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CADJPY LONGTRADE TRIGGERED ENTRY ON FRIDAY........LOOKING FOR A BREAK OF TREND, NEW HIGH & CONTINUATION......
EURJPY 15 min Cypher setting upThere's a potential cypher looking to complete around132.34.
if it turns on a dime initial targets are:
TP1 around 132.170
TP2 around 132.065
Stops above X around 132.49
USDJPY: The rise has ended ? From the 5th of December 2014 this pair did a long consolidation until the 30th on April of 2015. This consolidation was a triangle pattern in wave ((iv)) . A Triangle always occur in a position prior to the final movement wave. In this case sequent rise from at 118.4 was a last impulse wave (v) of ((v)) of 5 .
Action from 125.7 looks like a impulse wave (i) and extended flat correction (ii) . Now USDJPY has been falling in wave (iii) with possible target at 118.5 = wave (i) x 2 and next target at 116.3 = wave (i) x 2.618
GBPUSD: Elliot Wave CountContinuos consolidation at currencies market will be ended soon. But this pair still have a few possible counts.
Main scenario:
The pair are doing a triangle patter in wave x of wave y of wave ((2)) . This triangle may last few weeks. After this the pair should bring an excellent opportunities to falling down in wave ((3)) with first target at 1.155 = wave ((1)) x 1.618.
Alt scenarios:
Wave ((2)) already has ended the 18th of June. It means that this pair did wave (1), wave(2) and now ready to fall in wave (3) with good acceleration. This movement should start in couple days.
Next one possible Alt scenario is wave x still are creating from the 14th of May. If so, GBPUSD may significant rise and break the June extremums. The level which will cancel this count at 1.516
DXY: LongTermDollar Index has a long fall from 121 the Jule of 2001 until to the Match of 2008 at 70.03. There was ended some impulse wave - presumably wave I or c. From the March of 2008 US Dollar Index are still working on two scenario:
- Motive movement
- Correction movement (Note: not all correction counts show at this chart)
This both scenario have a same sub-wave count now. Wave ((3)) still progress, where wave (4) have not ended yet. Wave 5 of wave (3) is extended wave. Usually correction should reaches a price territory of wave two in previous dimension or wave fourth in same dimension. Because wave 4 of wave (3) cross price territory wave (1) I think wave (4) will end at area 85.5-87.5.
After this fall US Index should rise in wave (5) with next targets: 109 = 2.168 x wave (1) and next one 113.7 = 3 x wave (1)
This scenario also explains how will behave EURUSD: Fall and subsequent grow.
GBPUSD: Wave countThe last few weeks have broken my main idea and was need a time for understand what are happening and what will next.
Anyway, now wave count are looking more clearly than before, although I miss a good trend.
I remarked waves and now I think this pair are doing wave (c) of ((2)) .
There wave 3 looks almost end and I wait a small decline to wave 4 which should continue to the 29 of June and next go up again to wave 5 with targets:
at 1.615 = 0.618 of retracement of wave ((1))
at 1.642 = wave (a) = wave (c)
When wave ((2)) will the end this pair will give a greatest opportunities for fall to wave ((3)) with target at 1.22-1.20
USDJPY: Ready to 119?In my previous Idea I wrote about rise this pair and possible target. The target did not do and now wave count looking like a sequence of one-two-one-two. If so, this pair will fall down in three of three wave with acceleration, break bottom line of parallel channel and must achieve at 119 = wave (i) x 1.618. This movement have a good correlation with EURUSD, which should rise next days.
Also, this pair have the ALT count.
Probably the movement from at 118.48 the 30th of April probably was as impulse wave. It mean, that the 05 of June the pair did just wave (iii) and now are doing wave (iv) This scenario may be cancel when level 120.496 will break.
I think the next couple of days will show what exactly are happening here.
EURUSD: FED Tomorrow. Above 1.15 ? How we have been seen during last days the pair doing a long consolidation. This consolidation due to waiting of decision interest rate. Tomorrow to expect a hight volatility and probably a strong movement.
Using Elliot Wave analysis, I may suggest that the out from consolidation will up and will break 1.138 with targets until 1.176.
This is my main idea at this moment. The fall from 1.1465 looks as three wave movement and marked as wave X .
Subsequent rise is is 5 wave movement, which probably was a wave (A) and next consolidation looks a clearly triangle wave (B) . Out from this triangle must be upward fifth wave structure as wave (C) with first target at 1.155 = wave (A) x 0.618
GBPUSD: What next and where is trade setup?In Previous idea I wrote that I waited the end of correction to the fall from 1.719. The pair did good correction wave ((2)) with clearly structure. After market fell down again. I did short, which have closed vis wave ((ii)) and after I missed a short opportunities.
So. What next?
There wave count have been getting not clearly last week. But now this pair comes to point, which will determine what market will do next. Two main scenario:
1. The best way if this pair ready to fall into wave iii of (iii) . Wave count maybe adapted for this scenario very clear. But... I'm not happy to see strong RSI and MACD divergence. Because of this I have an ALT count with opposite movement.
2. Second way is that the pair already /or almost/ completed a wave 1 . It is mean that in next time may be expected a rise up to 1.55-1.56.
How determine trade setup:
For the first scenario is open short now with close SL (I did so) and hope that the market will fall down with significant decline.
For the second scenario. Second scenario will possible when a price will brake 1.53 lvl. I this level will indicate that a wave 1 complete.
EURUSD: Keep on eye on...A current wave count this pair and DXY show that the market will have a significant decline. The 15th on May EURUSD did a wave (4) at1.1465 and after that have fallen down in wave (5) with first target at 0.94
Current wave count looks like a sequence one-two waves. It is meant that the market will down to wave three (Wave ((iii)) ) with significant acceleration and break bottom of channel. A first target for wave ((iii)) = 1.618 x wave ((i)) = 1.037.
I think this pair ready for down now or will be soon: RSI divergence and wave count in wave ((ii)) looks ended.
Also, I wait this scenario because this pair must show a next bottom of H4 cycle, which will be near the 03th on June or couple next day.
I ready for open short when pair will break at 1.0925 with SL at 1.10.
EURUSD: Sale in May and Go Away?In previous idea I in details showed why this pair will fall down.
What next? I think this pair have bearish trend with targets until to 0.95
Now this pair have a two count.
My main scenario is that have ended wave 1 and will do a wave 2 in next several days to area 1.12-1.127 (50-61% of Fibo) with subsequent fall in wave 3 with a first target area nearly 1.05 (wave 3 = 1.618 x wave 1 )
Also, Alt count: wave 1 was anded at 1.1061, wave 2 completed at 1.1207 and now this pair already falling in wave 3 . If it so, than the pair must have a little rise, may be until to 1.105-1.107 with subsequent fall with good acceleration.
For both scenario this pair could fall to 2-4th of June (H4 cycle = about 36 bars between lows)
DXY I am expecting one more up impulse in the DXY and if it makes Divergence will signal the start of a down trend. I will follow up on lower time frame for the end of this up move and the start of the down move.
Remember we are still in a corrective structure on the Daily time frame which could make one more down leg before the up impulse starts.
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USDJPY: The Last Sigh And RiseThe consolidation, which continue almost 6 month ready to end. In previous I have reviewed triangle patterns, but a little bit wrong. Current marking looks more clear and fine. This pair left to do a wave e of wave (e) .
If this count right this pair will have a good rise again, at least at 124.130 - there the leading diagonal has started in 2007. Usually, the following correction retracing length of leading diagonal.
The next target in area 128-130.5. That is a Fibo proportions in wave ((v))
Good price, which will indicate that triangle ended is the extreme of wave (d) = 120.834. I will try pick up this chance for long position.
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Long term: This rise will the last rise for this pair wave 5 , after that I will wait a significant decline to 95-100 and low.
EURUSD: Trade setup for shortIn the previous idea I set a target price in diapason 1.148-1.15. On Friday the pair did a1.1465 , but wave count inside fifth wave looks ended, the pair has touched support blue line, also significant H4 MACD divergence, Fibo proportions (wave (C) = wave (A) x 1.618) indicate, that the pair already have a new hight or nearly the top .
The best way for say, that the wave fifth of 5 ended when price will break a wave fourth of 5 at 1.13225.
When the pair, will break a wave 4 of (C) at price 1.11297 it will indicate that the wave (C) has ended and pair will going down.
Also, I look at DXY index. There the wave count of correction are looking ended too and index ready to rise. It means, that this pair will going down and take a new LOW (at least a parity) and DXY will going up and take a new HIGHT .
So, what next?
Aiming, Aiming... and short. I will wait when the pair will break 1.1325 - good signal for short with SL 1.1465. It is aggressive short, but it may give an amazing trade if wave (4) end.
ALT COUNT also possible here. It means, that after a small down this pair rise again and will try do a new top. This count will cancel after brake at 1.1119.
