GBPUSD Short Trade SetupIt looks like a running flat is in the making between the green lines, and we have a very nice Fib confluence around 1.34950 for the completion of the wave B. That's why I want to take a short trade, and it seems like we have a complete correction (the blue B), reversal impulse, and break-out. Now, I need another correction and a lower degree trade setup to place a pending order.
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SPX500 Short Trade SetupIt isn't one of the best shaped and clear one, but what we have here might be an ending diagonal after an upward impulse for a decade. If this is the case, we should see a downward impulse as the wave A of a yearly corrective structure. So, we can assume that the next wave will be pretty big and fast. That's why I keep looking for short trade setups. If the last top is the end of 5, we should have a valid reversal pattern. I can place a pending order under the last low, but I want to move SL to BE when that low is broken. That's why I'm waiting for a small trade setup after the correction, which is between the yellow lines, to place a pending order. I'll set my SL over the all-time high. If the price starts falling without any trade setup, I'll place an order under the last low.
CHFJPY Short Trade SetupAfter the expanding flat, which ended at blue C, a reversal impulse and correction between the blue lines have come. After the last top, we got a lower degree impulse and a correction between the yellow lines, which seems like a complete one. Then another reversal impulse and correction between the purple lines. The issue is that correction because it seems odd. I think we have two options here. First, we may see a wave up until the yellow trendline for a nicer correction. In this case, I'll wait for a reversal pattern to place a pending order. Second, a correction and more downside. In this case, I'll set an order under the last low.
EURUSD Short Trade SetupIt seems like a correction is in the making between the orange lines after the daily upward impulse from 1.063. Currently, the B wave should be in the making. So, my expectation is the C wave for a complete running flat. But, before that impulse, it looks like more downside is more likely. That's why I want to take a short trade to hedge it at 1.16200 where we have a nice Fib confluence. I think we have a complete expanding flat under the blue trendline. If I'see a valid reversal structure, I'll place a sell stop order. That being said, I'll take a long trade if I see a correction for more upside.
CADJPY Short Trade SetupMy main forecast is the blue C wave for the completion of the correction. But there is another option too. Based on that wave count, the yellow B can be the end of the correction, and what we see after that can be a reversal structure. So, in both cases, we should see more downside. That's why I want to take a short trade. To do so, I'm waiting for a small correction under the trendline. Then I'll move SL to BE and see the next wave.
SPX500 Short Trade SetupIt looks like a channel is in the making at the end of the upward impulse. The last top can be the end, or we may see more upside inside the channel. For now, that part is not clear, but it is that the channel is one of the strongest reversal patterns. That's why I will take a short trade if I see a correction after the potential reversal impulse.
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USDJPY Short Trade SetupWe may have a complete running flat. The C wave seems to have 5 sub-waves, and the last top might be the end of the 5. That being said, it's still over the trendline. So, there is chance for more upside after a small correction. That's why I set my entry price under the trendline. My target is 108.200 for a complete daily correction.
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GER30 Short Trade SetupThe blue ABC can be a complete correction, and if so, we may have a complete reversal structure as well as a trade setup. That's why I placed a pending order under the last low. If it makes a proper correction and a small trade setup, I'll update my entry price and lot size accordingly. Based on the bigger picture, the other scenario is a correction, which will be larger than the blue B, and more upside to make a new all-time high. But this is not a problem because the current structure will be to the downside. If it drops fast, my minimum target will be 15000, if it makes a correction for more upside, I'll hedge my trade.
EURUSD Short Trade SetupMy expectation is a downward impulse after the correction. The last top can be the end of the running flat, and if so, a reversal structure should be in the making. I'm waiting for a correction after the reversal impulse. We could have placed a pending order under the last low, but I don't want to do that because it can go up more after a correction. That's why I'll wait for a small trade setup and place my entry order.
GBPNZD Short Trade SetupI think a big running flat is in the making on daily scale and the last top can be the end of the wave B. If so, we should have a reversal impulse. My expectation is the purple C for a complete correction. Then I'll wait for a trade setup to place a pending order. That being said, the purple A can be the whole correction. In this case, I'll need more downside and another correction to take a trade.
EURAUD Short Trade SetupMy expectation is a big downward impulse as the wave C to complete a running flat. The last top can be the end of B, and the drop can be a reversal impulse. That's why I'll take a short trade if it makes a correction. The other option is an expanding flat between the yellow lines. In this case, I'll sell it after a new high and reversal structure.
AUDUSD Short Trade SetupAs you can see, my wave count consists of 4 degree of 12345 structures. It seems a bit optimistic, but there is definitely a chance for such downward impulse. That's why I want to take a short trade. To do that, I need a complete 2nd wave and a reversal pattern under the blue trendline.
SPX500 Short Trade SetupMy forecast is the C wave inside a correction and more upside. That's why I want to take a long trade. As you can see, we have a potential reversal structure after the last top, and it's a valid trade setup. That's why I placed a pending order, and I'm in the trade now. My risk is 0.5% since another upward impulse after a small correction is also possible, and in this case, my trade will stop out. If it drops and makes a bigger correction, I'll it more.
USOIL Short Trade SetupI've been waiting for the completion of the wave B for a while, and the last top can be its end. If this is the case, we should have a reversal impulse and correction. Now, I'm waiting for a small correction to place a pending order by risking 0.5%. I don't want to place my order under the reversal impulse because my plan is to move SL to BE when it breaks that low.
Bitcoin Head and Sholders PatternBitcoin seems to be forming a major Head and Sholders Pattern. Top of right shoulder seems to be completing at almost the exact height of the left shoulder at the $42,000 range. A break below the bottom of the right shoulder may bring in more selling pressure. As well we have a "Death Cross" (50 period moving average crossing below the 200 period moving average) completing in the next week on the daily chart. If the head and shoulers pattern completes I would be looking at the 200 Moving Average on the weekly chart around the $13,00 range for support.
Diamond Top forming on KSM Weekly/Daily. I am seeing a potential Diamond Top forming on both weekly and daily charts for KSM, as well as overall exhaustion in the price action in comparison to BTC and ETH.
I plan to scale in slowly into a short position while being mindful of taking some off the table and re-adding as there may be some more upside with the current BTC volatility.