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Medium-term

ETHUSD Short and Medium Term Outlook ETHUSD As ETH continues to consolidate it's started to form a new pair of parallels at a less acute angle but it's holding up and making higher intermediate highs as it does so. The medium term trend remains positive whilst it continues to hold up off the lower parallel on all retests (the recent low was off the previous rally high) But in the near term it's struggling under the 765 line after a high at 768. Without Bitcoin to give it a boost it can move sideways to down for awhile inside the two blue lines on the chart and towards the lower parallel given enough time. But so long as it continues to hold the medium term trend remains positive. ETH nevertheless remains tied to Bitcoin's boot-straps. In the nearer term Bitcoin needs to break above 9400 to help ETH power higher through 768. And on downside Bitcoin has to break below 9300 to send ETHlower towards the 741 line and another meeting with the parallel.
BITFINEX:ETHUSDLong
by sumastardon
XPTUSD Long Trade SetupHello, traders. I'm expecting very nice up move in platinum. You can see my higher degree expectation in the followed chart, but it is almost impossible to explain by drawing because there are a lot of options. So, if you want to see detailed analysis, please watch today's analysis video on Youtube. The last down move has 5 waves already and the 5th wave looks like a reversal pattern. That's why I have put an entry order as you can see. The stop-loss is not certain. If the price goes deeper levels I will rearrange the entry price, stop-loss and lot size according to new bottoms.
OANDA:XPTUSDLong
by WaveAnalysis
GBPCHF Short Trade SetupHello traders. Another GBP pair is forming a very promising short trade setup. I had an entry order, but now my trade is active. I hope it will keep going down. I have put that entry order because I want to be in the trade if it falls like a rock. But waiting for a small correction after breakout would be a safer entry. You can see my long-term expectation on the chart down below. Of course, I won't keep my trade open until it breaks weekly bottom, but this is the potential.
Short
by WaveAnalysis
USDCAD Short Trade SetupHello traders. I have placed 2 entry orders with the same stop-loss and without any target. The risk of the first order is 1% and it is 0.5% for the second one. The second orders entry price is 0.786 retracement of down move. I will remove one of them when the other becomes active. I'm taking short trades in USDCAD because of the daily structure. It looks like a pretty clear correction so far. There is still some room under trendline for bigger correction, buy in any case, I will take the trade, then I will move the stop-loss to breakeven then I will see the potential.
Short
by WaveAnalysis
4
Bitcoin Buy, But Don't Dream About 50K.Hello, traders. I was ready to buy more Bitcoin and I bought some already. There is still chance for more down move to create a regular flat. But cryptocurrencies love to make contracting flats. That's why I bought. We will see. Up move will be the 5th wave. Its potential will be limited, but it can also be an extended 5. You can see my long-term forecast for Bitcoin. Also, please check the related idea. If you want to see more details of my analysis you can watch today's video analysis on Youtube.
BITSTAMP:BTCUSDLong
by WaveAnalysis
WTI: US OIL Minimum Upside Target at 86.33WTI Crude Oil Minimum Medium Term Upside Target at 86.33 The Saudis are reported to need oil at $84 to balance their budget. By happy coincidence for them the minimum upside target created by the reverse head and shoulders is 86.33. In the nearer term WTI is flipping in a 300 pip range with support off the last highs at 66.48 and resistance at 69.48. It has to break below here by 10 pips or more to trigger further near term weakness and a short back to the 63.76 line where it should reverse higher again. Returning to the upside although WTI is likely to move sideways for a while longer as it unwinds the last 800 pip rally, whilst it holds up at 66.48 the trend remains positive overall. Once it breaks above 69.55 it should rally further to 71.14 and then, after consolidating some more at that point, to 75.28 and eventually to 86.33, the minimum target created by the RHS.
TVC:USOILLong
by sumastardon
NZDCAD Long Trade SetupHello traders. My forecast is the next up impulse after the weekly running flat. That's why I will take long trades. The last down move is too sharp to be the whole correction but it can be in some rare cases. I hope it will go up impulsive. Even if it makes a correction, it would be a good trade. The trade setup is sharp up move and very clear looking correction. Wait for the breakout and a small flag before taking any trade. I have put an entry order.
Long
by WaveAnalysis
2
EURGBP Long Trade SetupHello traders. EURGBP makes a correction after sharp up impulse. At least, it looks like a correction so far. My minimum target for any long trade is new daily top. I'm waiting for the breakout, then I will wait for a small correction, then I will take the trade. But if you look at the followed chart you can see that there is still a chance for one more down impulse. It's not clear where the end of daily correction. For more details, please watch the today's analysis video on Youtube.
Long
by WaveAnalysis
GBPAUD Short Trade SetupHello traders. Like all other GBP pairs, GBPAUD is making a weekly corrective structure. After correction, it will make its weekly down impulse. But I think there is a chance for one more up. As you can see inside of C wave we have 123 sofar, and I'm looking for short trade setups because my expectation is one more drop to the trend line. But 4th and 5th waves are optional, so it can just fall. Wait for a correction before taking any short trade.
Short
by WaveAnalysis
GBP/JPY Short IdeaI like to keep my charts simple with a few regions and/or support and resistance levels. As everyone can see on the daily timeframe GBP/JPY rose in waves but that last wave rose quite fast and fell lower even faster. This suggests, according to my opinion, that there is little interest in taking the pair higher at least in the medium-term. The area where I've marked "Sell Zone" appears to be a good area to enter shorts since there is a ton of confluence in that region. With stop loss placed far enough to give fakeouts enough room. The 1st take profit zone is an important zone to look at taking profits or at least some profits off the table since price had a sharp bounce from that area.
Short
by Zeddy
XAUUSD Both Direction PossibleHello traders. I like to share with you my gold analysis. Even if both directions are possible, we have a long trade setup. Let me explain. Yellow wave count is one option. Based on it, down move was the X wave and it will go up for Z. Minimum target is breaking the of Y. The structure between yellow lines looks like a flag for more upside. So, wait for the breakout, and take the long trade. The second option is blue wave counts. Based on it, last part was expanding wedge (abcde) and now it is making the next down impulse. Expanding wedges are extremely rare corrective patterns. That's why I don't think blue counts will be the case, but of course, they can be. So, wait for a correction, then wait for the breakout, and take the short trade. Trade with care, bye.
OANDA:XAUUSD
by WaveAnalysis