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Wavetheory

USDCAD Long: Excellent Buying Opportunity To Take Now!USDCAD is giving us an awesome entry to go long. The trigger for this trade is an ending diagonal pattern (the wedge shape between the dotted lines). Why do we like this setup do much? A diagonal pattern is a sign of exhaustion. The choppy, shallow-sloped, overlapping price action is an excellent sign that price is weakening, and is due for a change in trend. Clear momentum divergences on the MACD and RSI support this idea as well. On top of this, the pattern comes at the very end of another pattern we love to see: an expanded flat (as outlined by the (A)(B)(C) labels). This gives even more confluence to our idea, as a flat pattern is one of the core corrective patterns we trade here at Parallax. Exactly how you enter is up to you. You can enter now, or wait for the highs around 1.2950 to be breached first. Regardless, the invalidation level for this trade is 1.2766; price must not move past that level for this wave count to remain valid. This trade setup was created using the rules and guidelines of the Elliott Wave principle. We love the Wave Principle: it's our #1 choice when it comes to forecasting and technical analysis. We strongly believe that no other trading system gives you the same level of confidence when trading. The wave principle provides a rules-based approach for trade entry and exit, as well as active position management. At Parallax, we focus on wave analysis and 1-on-1 education to build a foundation of skills that give our clients the edge. We trade Crypto, Forex (FX), and equities. We keep our analysis simple, clear, and easy to execute. Comment below if you would like to see more trade ideas, Elliott wave analysis, and market updates.
Long
by ImreSG
2
AUDNZD: A down wave will be coming soon...Hey Traders, FX:AUDNZD is almost ready for a down wave. Wait for market to give you reaction and look for sell setups, it's a medium term trade. We can see a 100 pips move minimum and if we get a correction, another drop will be coming to break previous lows as well. P.S. Do not think that market cannot go higher, wait for your sell setups before you jump in. If you want us to post more charts, setups and explain more about the next move, make sure to follow us, like and comment. What we are sharing here is only our point of view on what could be the next move in the market based on our wave analysis concept so this is a directional bias and not signals... DO NOT FORGET OUR 4 GOLDEN RULES: 1) Do not over-risk 2) Do not over-trade 3) Do not trade without stop loss 4) Never ever add to losing position Trade with care We Trade Waves Team
Short
by WeTradeWAVES
5
CADJPY Triangle Gives Us Clear Entry for a BuyTriangles are always a treat to find on the charts. This is because the pattern provides an entry signal that is clear and easy to execute. In Elliott Wave Theory, a triangle pattern consists of 5 internal subwaves, ABCDE. When those subwaves are complete, a break of the triangle is expected in the direction of the trend that occurred prior to the triangle. In this case, we are expecting a thrust to the upside, now that wave (e) is potentially complete. Triangles always come before the final move in the larger term wave sequence. In CADJPY, this means we are expecting one more wave to the upside before price corrects to the downside. The triangle pattern gives us everything we need to catch that final bull move. Price must remain above the invalidation level of 103.34 for this interpretation to remain valid. At minimum, we expect a move to the previous highs. We are targeting the 108.00 handle as our initial profit target. There is a good reason for this too... comment below if you want to learn how Elliott Wave Theory can help you find high probability targets as well. At Parallax, we focus on wave analysis and 1-on-1 education to build a foundation of skills that give our clients the edge. We trade Crypto, Forex (FX), and equities. We keep our analysis simple, clear, and easy to execute. Comment below if you would like to see more trade ideas, Elliott wave analysis, and market updates
Long
by ImreSG
6
XAU(GOLD) Longterm PredictionHi everyone hope you have good moments i have an longterm idea on GOLD according to price action levels and Elliot Wave Analyze. first lets look at Wave analysis. we can see above an impulsive wave that seems to be ending. and after that we expect a deep ABC correction for this compelete cycle. i show this ABC in my chart. there are another possible shapes for this ABC but i illustrate one of them above. after that lets go to keep an eye on price action. GOLD bounces from 1680 support strong with 2 candlestick patterns: 1)bullish engulfing 2)bullish harami so we expect to grow approch 1790 resistance first. probably after that we will see a correction again (WAVE B) and then break this level toward 1860 resistance. this level is the end of wave 4 from prior impulsive wave and the level 50% retracement of impulsive 5 wave too. with a deep look we see 200 day Moving Average around this level. so if something unnormal dont happen , we see this level soon. notice that interest rate set to 0.75 upper to 2.5 and the market price this rate before. and seems inflation peaks and will be go down in front months. dont forget to manage your risks. our first duty is protect our capital after that we think about profits. thank you all for reading my opinion. tell me your criticism in comments and i will be happy.
TVC:GOLDLong
by TraderAmin-KZ
EURAUDMany traders see a trend continuation here, I still have doubts so let's close our short positions when market opens and join the long-term reversal. There are several reasons that support this buying scenario ⠀1. strong support zone confirmed with candlestick pattern 2. bullish momentum and very strong demand area 3. a completion of a 3-3-5 flat correction But we do not rush to buy, we wait for a correction outside the channel and confirmation ⠀ Only after that we will make a decision about further moves. TAKE a long @ 1.4769 TP 1 @ 1.5050 TP 2 @ 1.5275 TP 3 @ 1.5534 Protective stop @ 1.4639
Long
by oxxygee