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Kennedychanneling

Eur Usd trade shortThe analysis is as follows. If you have followed my past analysis, you would see that I have called the top for this being the 3.414-3.618 area which we have hit. My past idea that the wave 4 was what I had previously labeled is correct. Currently we are in a channel, meaning that the move downwards hasn't yet been confirmed, although I think the double top we have seen on the 15 and 16 confirm that this move is done. I am bit unsure about the wave 5 structure, since the wave 5 is not very distinct. I am going to look beyond this as an issue, since the wave 5 volume has been so low, it is possible that we have run out of bullish momentum. To bring credit to this count, I will show how it follows all of the impulse wave rules and guidlines. Wave 2 does not move beyond the wave 1. Wave 3 is not the shortest wave 1,3, and 5 aren't all extended Wave four doesn't move into the price territory of wave one There is alternation between the wave 2 and 4. Wave 5 has ended at the middleline of a channel created from the point 2-4 and wave 3 end. The target for this move is the wave 4 of the prior wave . 1.18930 to be exact, but I might take profit sooner, depending on the price action in the moment. I am proven wrong in this wavecount, if we end up moving beyond the 1.20000 mark. In this situation, wave 5 still has a far amount to travel.
Short
by Mika_k
CHFHKD ShortIn this analysis, I will be discussing the possible short opportunity in the CHFHKD Pair. It appears to me that the greater trend has been completed, and we an a,b,c correction take place. My first reason supporting this is that we have broken out of the trendline for the greater impulse structure and rejected it before sharply moving downwards. Similar to how the wave A was sharp, I anticipate a sharp wave B also. This is because there was a triangle in the wave B, and the retracement for the wave B wasn't much. (Max 0.382 of the waveA) In the wave principle book, the guidelines of the zigzag mention how the typical retracement for the wave B zigzag is somewhere between 0.382-0.5 of the wave A, and although we haven't hit the lower boundary exactly, I think we have came close enough to qualify this as a correct count. Since the wave B appears to be a triangle, and the triangle always appears at the end of a move, this move can not be labeled as the 1-2 of a zigzag. A break above the 8.4825 would discredit my wave count entirely. The target for the wavecount is the wave 4 of the larger impulse wave, which is anywhere from the 8.39456-8.38127. I am leaning more towards the 8.39 target since the wave C's are occasionally less quick and steep than the wave A. I am unsure of what to make of the Mika K time prediction technique for this zigzag. I have decided that the end of the wave B is .768 of the entire wave. I believe this because the wave B of a zigzag is typically the longest part of the zigzag. This is because the wave B is a corrective move, and corrective moves are defined by their choppy and time consuming characteristics. The wave A and C are both impulsive, meaning they are a lot quicker. I anticipate that the wave C takes a bit longer than the wave A to form, and that it'll be done by around 3 in the morning tomorrow.
Short
by Mika_k