We are in the fifth subwave of the fifth Major wave in the Elliott Wave Cycle. Take all opportunities to sell this currency pair. Maintain a bearish and negative outlook on USDNOK till the 14th of this month. Cheers.
The minor Fifth wave of the Major Fifth wave on the 4H chart is showing clear patterns of bearishness. Have a negative attitude on the pair at least till the 14th of this month. Take all opportunities to go short on this pair. Cheers.
The Graph speaks for itself. Expect extreme bearish movement as the fifth wave has begun on the downside. The RSI is also sloping downwards, supporting the bearish movement! Happy Trading. Cheers.
It is in the fifth wave cycle and has bounced off at two major fib levels (0.618 and 0.764). The RSI level is rising showing increasing volume support. Go long. Cheers.
REASONS why this trade could work out: The Risk to Reward ratio is (1 : 1.8). The direction of trade is in the direction of the current trend. RSI is sloping downwards. The wave being traded is wave 3 which is the longest wave.
i) Risk:Reward ratio is (1 : 1.5) ii) Stock Accumulation is slowly going up. Look at market sentiments before Trading. Cheers.
Go long. Risk reward ratio is good.
High probability bearish signal. The 'fifth' subwave of wave C has begun which is very profitable generally. Go short with a TP and SL as shown. The Risk:Reward ratio is (1 : 2.5) . Feel free to comment. Cheers and Good Luck.
The wave C is likely to begin right now. In support, we can see that accumulation has also begun for the stock. Additionally, RSI is bouncing from the oversold levels. This is a good time to trade FB on an Intraday basis. Look for pre-market sentiments before trading. Cheers and Good Luck!
Go short on Microsoft.
Go long on Gold. The C wave is likely to begin now. The fib 0.318 level is acting as a major support.
4th subwave of Third wave.
Use Trend Following to short on 5M charts. We are in Subwave 3 of Major wave 3 and this is the best possible wave to trade. RSI is supporting the Bearishness. Happy Trading. Cheers.
The EW is currently in the fourth major wave and the upside potential is till 0.9318. Use trend following tactics to enter long positions. Do NOT use oscillators or RSI to get into positions. Since this is a DAILY chart, my suggestion is to switch to 15M chart and look for buying opportunities. Always look for buying once the uptrend has started on the 15M chart. Cheers.
The fourth wave has begun and the target for the end of the month is 30.50 .. Get ready to short sell based on price action. Do NOT look at RSI levels to find shorting opportunities. Just flow with the trend. Price Action always wins :)
Fifth subwave on the third wave. Expect price to touch 1.5140 soon.