As we can see GJ has retested an area of support below and is starting to reject on the 1HR making higher Highs. We also have a breakout which failed above the higher high. I will be targeting the swing highs with a Long position.
As you can see we have reached an area of Demand on the lower time frames. We are looking for a entrancement into the area of discount pricing on the 5-15min timeframe. We will then look for a CHoCH to signify a possible push to the upside, once the we see a BOS on the 5min chart. Looking for longs to the next area of Supply.
CADJPY - Short @ Fib Level PRZ We can see that price has reached the begining of a 5th wave and has rejected the 6.18 Fib level twice. Lets see how we go!
As we can see we have completed an EW impulse, we are now in the corrective stage (pullback). We should see it hit between the Fib 0.5 & 61.8.
As we can see NAS100 has completed its Elliot Wave and is beginning it corrective ABC pattern. Refer to chart for further information.
Currently looking at GBPUSD for a LONG position if it retests the support of the intraday channel on the Daily. We can also see the the stochastic is indicating the pair is in "oversold state" On the 1HR we can see a strong upward movement toward the 800MA.
As we can see, EURCHF has broken out of its downward trend, by using the Elliot Wave Theory we can determine that a corrective Wave 2 is currently forming. Once we see this retracement hit FIB levels 0.5-0.618 we can then safely place a BUY TRADE between 1.60300-1.60250 to prep for the impulsive wave 3.
Trend Analysis - Long Idea We are in an UP on the Daily Chart, the trend is your friend. We will wait for a Long position as per chart.