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XAUUSD Short-term Sell-side Direction / Wave 5 Ending DiagonalXAUUSD is in a bullish sequence (impulse pattern) the pattern is valid as wave 3 is not the shortest wave and waves 1 and 4 not overlapped. Wave 5 is an Ending Contracting Diagonal pattern most likely we see a sell-off soon. Its gonna be hard to tell how deep the downside will last when considering trading the 1 and 4 hour but lower timeframe can offer good trading setup. Waves 2 are not reliable like a flat correction a better way would obviously waiting for a the pullback then look for the 3rd wave on the bullish side the downside do has some opportunities on the lower timeframes.
OANDA:XAUUSDShort
by Weshareio
2
CADJPY Wave 5 Completion / Elliott Wave AnalysisTechnical analysis is a useful tool to help us pre-determine market direction before hand. We are in a wave 5 phase of Elliott Wave Theory impulse move. Impulse moves are very easy to understand and are very basic if you talk about Elliott Wave people think of impulses, waves 1 and 4 never overlaps wave 3 never the shortest. To confirm this is an impulse move we have to see price complete the fifth wave, note there are cases where we have a wave 5 truncation ( wave 5 failure) not often but possible. We have to be watching the fifth wave structure we 1-2-3-4-5 sequence either impulse or diagonals.
Long
by Weshareio
S&P500 Bullish Impulse Pattern | Wave 4 PullbackSPX is trading in an impulse move similarly to the Nas100 on the 4 Hour timeframe. Things we know about an impulse move is that wave 1 and 4 never overlaps therefore we can use that idea as an invalidation level for the pattern. Trading the pullback can be tricky considering the timeframe we are at and also the phase but on a lower timeframe like 5 to 15 minutes can be decent personally I don't prefer trading the A wave waiting for a C wave is better, but note the main bias is bullish in general.
OANDA:SPX500USDLong
by Weshareio
CADCHF Bullish Direction BiasCADCHF has been in a Bearish sequence for a while now which is a corrective phase. As we know no trend lasts forever there is always an end to everything. Most likely we will trade in a bullish trend very soon considering the CAD strength from a fundamental-based analysis. By using correlation with related pairs the USDCHF can be a great case study as in unfolding in a Bullish impulse sequence. Considering the previous outlook we will make a new high.
Long
by Weshareio
DXY Where Are We Heading Next?The dollar index is critical from a technical analysis point of view. We have two possible directions as always from the market to pick from. Our systems are bout to help us predict the right direction. But there certain cases where we see both directions as valid based on our systems this case is not any different. Bullish Scenario We recently had an A-B-C correction down which could occur at any phase but either way that doesn't change the fact that corrections are always followed by a pullback to the opposite direction from the direction of the correction pattern itself. Bearish Scenario We have a possible leading diagonal pattern formation suggesting that we will still continue moving in the downside direction. This means we have to make a new low in this case. Which is Which, what's your take? Share Your Outlooks
TVC:DXY
by Weshareio
AUD|USD Multiple Timeframes AnalysisDaily Timeframe Analysis On the daily timeframe, AUDUSD has been trading in a downtrend. We have a double zig-zag correction pattern. Waves (W) and (Y) are zig-zag correction patterns, wave (X) flat correction wave (Y) is possibly over and we could be turning into a bullish trend. Price has broken through the channel in the bullish trend. Based on technical analysis AUDUSD is bullish. 4Hour Timeframe Analysis It’s interesting to see the trend ends with an Ending Diagonal pattern, more than likely we won’t break below the old low on the 5th wave. Recently price made a push-up as an impulse move, as we know price moves in impulse-correction-impulse sequence so now we have to expect a sell-off as a wave (2) before the next rally as an impulse move for the wave (3). 1Hour Timeframe Analysis On the 1hour timeframe, we can see a clear impulse move for a wave (1) on a higher degree. We need to see a pullback/correction. The correction can be any corrective pattern except a Triangle pattern. The Fibonacci retracement is not the focus but on how the correction pattern unfolds the deeper the pullback the higher the R/R and less risk in terms of pips.
Long
by Weshareio
XAU Trade IDEA 1:8 RR Hey Traders, In this Trade Idea We have our 1 hour POI Marked up at the 1823.75 Level Where you can either set an alert or use a BUY LIMIT for entry Stop loss is at 1820.95 for about 28 Pips and should be adjusted depending on your broker and spread, First Take profit will be at 1833.5 for about 100 pips this will also be our Break even point Second Take Profit Will be at 1846 for around 224 Pips and a total of a 1:8 risk to reward. Happy trading =D Please remember to Like Comment & Follow my Tradingview if you agree to my Analysis! ----------------------------------------------------------------------------------------------------------------------------------- Always remember to move your trade to break even when in profits, its better to be a break even trader than a losing trader. Disclaimer: The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions
FOREXCOM:XAUUSDLong
by limitlessal
2
US30 WYCKOFF DISTRIBUTION FIRST LONG AND THEN SHORT.Hello everyone, I am posting here my analysis about what could happen next on US30 and why. on 4 hour time frame we can see the PSY, BC , AR, ST , SOW and UT have already been formed. The price has shown indecision and hence gave a reversal after breaking the RETAIL support (Providing break of structure or activating pending stop orders), it can be seen that the price is deflecting after breaking the retail support and now reversing. To which I believe price will form a new weekly high this or next week where we could have a UTAD (Formation of Order Block) and on the restest of UTAD I would go short. On this analysis, there are few Liquidity lines marked up above UT, which means , the price might break any of these liquidity lines (Break Of Structure) and then form UTAD (Order Block). Please feel free to comment, like or share. Also, If you are against this idea, please raise a valid point. Thank you.. TheEdger.
U
by theEdger