DavoodWadi

DavoodWadi

Hi, As you know, EURUSD has been bearish for quite some time but after the NFP release today it has shown bullish reaction to the news. It could be for the end of the week and profit taking. Technically speaking we are at 0.887 retracement ratio right now both in Time and Price. I personally took this trade because such a balance doesn't happen often and when...

DavoodWadi

The current price action shows corrective movement, lack of interest in the downside and thus a bullish sentiment. FibTime has already shown a confluence of ratios in the big bearish candle, indicating a reversal to the upside. I'm going long after the break and close above the trendline only if no new low is made.

DavoodWadi

Whenever I see a giant candle, I see weakness. Aside from that, AB=CD and BC extensions and 61.8% of the down swing coming together in a tight spot is another reason for shorting this pair right now.

DavoodWadi

It's often hard to find harmony between BC legs in the Gartleys and the XA legs. They usually don't match up. This is a different case in EURUSD. As you can see, the 1.272 extension of BC leg lies perfectly on the 78.6% retracement of the XA leg and also the 1.618 extension of the BC legs lies perfectly on the 88.6% retracement of the XA leg. Beautiful...

DavoodWadi

Hello guys, A deep Gartley Pattern is identified in the chart. The ratio confluences are shown. Happy trading.

DavoodWadi

As an update to the previous post, 1201$ did act as a short term resistance, pushing the price back down to 1142 in a few days. Now, I have marked the low at 1131$ as a Major Low for various reasons: 1st, because it has shown impulsive price action which we have not already seen since the Major Top at 10th of July. 2nd, because We've counted the Elliott Waves and...

DavoodWadi

Ratio Confluence in the 78.6 retracement of the bearish move. Plus the long term trend is bearish so we wouldn't be surprised to see the lows again. Let's see how it turns out.

DavoodWadi

So you've done your wave counts. You are in Wave 4 retracing a portion of Wave 3. Now you grab a Fibonacci retracement tool and drag it all the way along Wave 3. You have 3 important numbers to look for: 38.2%, 50% and 61.8%. A lot of you might say, "Well, it's wave 4, so it's gonna retrace 38.2% of Wave 3 most of the time". Now if you buy on 38.2 where would...

DavoodWadi

The recent down move in the Aussie has been crawling and creeping and not powerful at all. The reason might be because of the holidays and inadequate fundamental news but the result of all has formed a Diagonal. Depending on different counts we might consider it a leading diagonal or an ending diagonal, but it doesn't matter for now which one it is, as we're...

DavoodWadi

We've all been bearish on NZDUSD and the Trade Balance came out negative today. It's especially a bad news for New Zealand which it's economy is based on exports. The price seemed to ignore the bad news and correct its way higher. And now it's came to a resistant area which forms a Cypher Pattern. I usually don't trade this pattern because I doubt its technical...

DavoodWadi

The major top and the start of a trending down-move was the Top at 1345$. I took it and subtracted the Fibonacci numbers from it to find nearly exact Support/Resistance points. The question is, Will the 1201$ which is 1345 - 144 (A really important Fib Number ) provide resistance for the current rally? Or has the validity of the 1345$ top failed? A couple of...

DavoodWadi

Hello everyone, I've already had couple of Trade Ideas during the formation of the Triangle. Now it has broken to the upside as expected and is going to act as the "C" wave of the huge corrective wave in the weekly time frame. It has a high probability to be the "C" wave especially because it is followed by a Triangle and as you know, the Triangle comes before...

DavoodWadi

This is really exciting. I've never seen this amount of numbers sitting on top of each other. You see the count and for the longer term I believe we are sitting in the C wave of a correction which would be a five wave move. It's already forming its 4th Wave. Now as Elliott Guidelines suggest, because the 2nd Wave was a Flat, the 4th Wave would probably be a...

DavoodWadi

The triangle on CADCHF is going near its end and a Gartley pattern with pretty good ratio converges have made a tight area for a long entry.

DavoodWadi

EURAUD has been falling last weeks in its 5th wave down-move and after resting for some time it tried to get to the 38.2 retracement of the previous down swing but failed. Marking this failed attempt as the Wave "a", it went down a little bit to summon all its power for a second attempt to get higher but as you can see a nice pin-bar has formed, showing its...

DavoodWadi

Hello everyone, Another perfect ABCD formation has completed and I'm putting my order as soon as the market opens. The latest top, with a huge wick on, before the market closed sat on the 1.618 extension of the A leg which also was exactly on the 61.8 retracement of the down move from late October. As you can see from RSI, there is a big divergence between the...

DavoodWadi

From the last week AMZN seemed to have ended its long lasting bearish move which started with a sharp decline from the start of 2014. Let's start the analysis from the Weekly timeframe (the left chart): - It had a sharp decline towards the 50% retracement of the previous bullish move in Primary degree. Many thought of it as the end of the retracement and...

DavoodWadi

Today EURUSD blew away the triangle in both directions to make it merely a flat. Hopefully our stops weren't so big so the loss was bearable. Now it's heading towards our Wolfe Wave target from last week. The interesting fact is that as you can see the Wolfe Wave target has made a tight zone with 38.2% retracement line for the whole leading diagonal that I...