Here is my viewpoint on BTCUSD. I believe we have a bigger correction in development. Post correction, I expect there to be another bullish wave.
It seems AAPL has completed a 5-wave bullish pattern on the monthly chart. At present, we are at a critical Fib. level with stock overbought. Therefore, it won't be wise to neglect the possibility of at least a short term reversal. Long term investors must keep this in consideration. Will soon be updating a fundamental evaluation of the stock as well.
ACC Ltd. is currently in a weekly bullish impulse. Will look for a lower degree correction to buy. Final target can be placed around 1800.
It seems that EUR/JPY is about to break out for the next impulse to the upside. I have a placed a lit order at the 0.618 level. Let's see how the pattern develops.
Going short at the 61.8% fib should give a good trade. Nice Risk/Reward ratio trade
GBPUSD might give a very good risk reward ratio trade today. I have a pending order placed at 1.4900 and another at 1.4847. The stop loss is a slightly below the 21.46% fib level (1.4796). If I am taken out of these trades will look for a better entry to the upside.
The price is at the point of potential reversal. Risk of taking a short trade at this point is very less when compared to the potential reward. Divergence on chart makes the probability of trade success even better.
AUD/USD might be in an expanding wedge as shown. If this wave count is correct, we might have a good shorting opportunity at the moment. However, my longer time frame bias on AUD/USD is still bullish.
Possible expanding diagonal formation. Excellent risk reward ratio trade. However, the price might drop for a short while after hitting the 141.4% or 161.8% level.
The orange line indicated on the chart is the Daily trend line. The doji formation on the chart indicates indecision. Furthermore, the price is in the overbought zone. Therefore, in my opinion, we have an excellent short opportunity here with very good Risk-Reward Ratio.
On the weekly chart, we are in an uptrend. The yellow line indicated in the chart is an important monthly Support/Resistance Level. The candlestick formation at the level suggests the continuation of uptrend. I will be looking for a pullback on this pair and taking a long position when it does so. Please share your comments.
The 5 wave bullish pattern has been completed on the 240 minute chart. The bearish correction to this move should be at least 200 pips.
To generate this trade idea, I have analyzed this pair on the Daily and the 240 minute time frame using the Elliott Wave Principal and Fibonacci ratios . In my opinion, we are still left with 1 Bullish sub-wave of the larger bullish trend on the daily chart. The Friday close was at a critical Fibonacci ratio of the 5th bullish sub-wave and the channel, while the...
I believe we are moving towards the wave C of the correction pattern. Will be taking a very short term long trade with 139.00 as the profit target.
To come up with this trade idea, I have analysed the Daily, the 240 minute and the 60 minute GBP/USD Charts using the Elliott Wave analysis in conjunction with Fibonacci Ratios. Holding Period for this trade would be relatively moderate. Looking at the Daily Chart of the pair it is quite evident that the pair is retracing a previous strong bullish movement....
On a longer time frame, the pair is in consolidation. However, this might be a good 30-50 Pip long move. I will enter this trade if the price hit 138.40.
Going Short. Although, looking for the right level to make a long trade entry.