McCarteen

McCarteen

Price has been trading within a channel, initially I thought maybe we a re observing a bearish flag and I must see a strong bearish move away from the channel. But price was trading choppy taking a shape of a triangle, and no I am assuming that the wave B is yet to find resistance around the 78.6% level.

McCarteen

Regardless of wave 4 breaking into the price territory of wave 1 it is still valid to name this structure as a diagonal pattern. I am assuming that the current move price has just found support at the 50% fibonacci level and will be looking for new highs in the near future. I wish you all a profitable week/ God Bless You.

McCarteen

On the long term view this index has made a bearish rally from the early days of February and made a low mid March, and a rally which looked impulsive, therefore we can conclude that the main trend is down. According to the Elliot Wave Principle every motive rally has to be corrected to a specific fibonacci level, of which has been happening, price correcting in...

McCarteen

Going ahead of this week this pair is definitely a must watch for a couple of facts. As price moves directing its energy to one direction we know that it has to rest at some point to the opposite direction. Now we are observing price moving in respect of a channel shape. Well respecting the upper and lower boundary we can conclude that price is yet to respect or...

McCarteen

Currently we might be experiencing a wave 4 rally which might take a while. On my side I assume we are yet to see a complex wave 4 which might rally as low as the 38000.00 level. Alternatively price might be taking a triangle form which will not be deep but we know that it might take awhile to complete. A happy trading to you all. God Bless You.

McCarteen

Price rejected at a significant fibonacci level and I am interested to see what price is about to do next.

McCarteen

Price has been unfolding in form of channel from February and which looks like a bearish flag correction, correcting the bearish impluse. Price recently broke the trend line channel and might be offering an opportunity.

McCarteen

The sudden turn in price from the past month got me thinking that we might be observing a switch in trend and it might be for a while. The volume that price switched with it makes me assume that this is an impulse move and a correction can be expected before price continue to rally again. Price correction targets a significant level which I have made visible on...

McCarteen

Price formed a pin bar on the intraday, and this might be a signal that price might be taking a turn. What is so interesting is that price made this rejection along the level of fibonacci support, and this is a good opportunity to look up on to. More especially when price respect a level with such volume. I wish you all a happy week. God Bless You.

McCarteen

Price has been trading bearish for quite a while now. assuming the short term trend is down now I can position myself for a short in price on long term view. assuming the recent fall is a wave A it can be wave 1 but both scenarios indicate that price might continue falling. from now we can expect a correction to join the bears. Note that price might not unfold as...

McCarteen

looking at the move from the bottom to the top labelled intermediate wave (1), I view it as an impulse move and the current drop as a preceding correction move. Assuming Minor Wave A and B has finished forming then now we can expect a drop of motive Minor Wave C. Alternatively price can unfold as a three wave move signaling a complex correction is in form,...

McCarteen

The final wave five has finished well and the 50% fib extension level. interestingly the end wave formed an ending diagonal which signals a strong reversal of price if the appear on a particular trend. As from now we can expect a strong turn around in price. Alternatively price might be forming a different shape and might retrace to continue growing.

McCarteen

On the opening day of the week price has made an eye catching advance right at the 100% extension level of A through B. I labelled the advance move as wave 1 followed by a corrective move which I labelled wave 2 and now expecting price to for a wave 3 rally. I will be patient with price as it unfolds and reveal more about itself. As of now I will stick with this...

McCarteen

After price made a big rally to the top labelled wave 5, I have been expecting a turn around in price. The drop that we saw from last week might signal that the bears might be taking over. Now to join the force in control I am expecting a correction move in a form of a channel and then I can join the bears. I am expecting price to find support at around the 50%...

McCarteen

- After the huge drop of price from the past week I was forced to reconsider my long term forecast. - It looks like from the early months of 2020 price completed it's corrective move that began 2012. - Now price made an advance I labelled Minor wave 1 and from now on I am expecting price to correct to at least to the 0.6200. It might not necessarily get to...

McCarteen

Price has made a bullish advance for the past few days to what looks like an impulse move. A wave 3 of 5 to be specific, and buy the momentum which characterize a wave 3. So at the moment I will relax as price unfolds and hope to join the bullish trend at wave 4. A happy trading everyone. God Bless You.

McCarteen

from the previous analysis the long set-up was there but the buying pressure from the bulls looks weak. So I will look at the alternative way for this pair. Now I am suggesting price might be forming a complex correction to the upside. assuming price found support at the current level, then we can expect a drop in price soon. Alternatively price can continue to...

McCarteen

The dollar yen has reached a significant area of support where buyers might be looking to push the price higher. Yet not enough evidence that price is yet to change its trend, we become patient as we wait for an opportunity. Price breaks the recent low invalidates the analysis.