TheAlaskanTrader

TheAlaskanTrader

I'm thinking we will be dropping one more time. Looking at the $7700-$8000 area.

TheAlaskanTrader

Here is my analysis AJ using Elliot Wave. Also I have added a price channel on the weekly. I think we will see a pullback soon then a drop finishing out 5th wave. Overall I see AJ as bearish into the near future, at least until we know the full effects the virus had on China's economy. Check out the chart and share your idea in the comments.

TheAlaskanTrader

Any bullish hopes seem to be gone for now with bad news coming out China. So i'm looking for this possible move lower. Check out the chart!

TheAlaskanTrader

May have a Head and Shoulders pattern forming on AUDUSD. Look for a break out. I would use a small position on any longs though, any bad news on corona virus will cause further drop on this pair.

TheAlaskanTrader

If my Elliot Wave is correct we could be approaching the end of B leg and now price may drop from here. Just and idea, check out the chart.

TheAlaskanTrader

Short time frame Elliot Wave Idea. Looking for bounce then a test of the $9K level.

TheAlaskanTrader

If my count is right then I believe AU is in Wave 4 currently, so we should see one more push higher to the .707-.708 area. Wave three appears the ended at the 200% Fib level, my priori short idea missed by some, I thought the pair would reverse around the 168% area. Also I Believe this pair is stil in Wave 3 on a larger cycle, I think when wave 5 completes it...

TheAlaskanTrader

It seems wave 3 should be coming to an end. There may be a possible sell around .697XX. If wave 3 ends there, it could pullback as far as the .686 area. Let me know what you think.

TheAlaskanTrader

Price may consolidate here some before moving up. According to my Elliot Wave count we should still be in wave three. I'm targeting .6872 as the end of this wave. Also AUD has broken the major multi month bearish trendline. The price channel I drew may not be accurate. I've been following this pair for awhile now, trying to break it down with Elliot Wave, check my...

TheAlaskanTrader

I think its possible GBPJPY may be in a third wave extension. Price moved above the 1.618 fib extension and may now go for the 2.618 fib level (154.00).

TheAlaskanTrader

Wave 2 has completed and price is moving north now. Targeting Wave 3 end at the 1.618 Fib Extension, .696 price area. I will look at adding long positions at price dips. See chart.

TheAlaskanTrader

Watch for breakout. Bullish Pennant. Price should move north from here.

TheAlaskanTrader

From what I see, GJ is in its 3 Wave. It could reverse at the 1.1618 Fib Extension and retrace down to the price area of Wave 1. Overall this pair is bullish, but some pips can be made on the downside if you are ok with the risk. Check out the chart. Let me know what you think.

TheAlaskanTrader

Nice breakout on AU. C wave appears completde at the .618 level and now price has already moved up past the .50 fib level. Price should reach the .382 level, look for reversal there and a pullback to the .50 fib area, that would be a good spot to buy in.

TheAlaskanTrader

AUDUSD is near 61.8 support. We may see a double bottom here or the creation of a Harmonic Bat pattern. If it drops below the 61.8 support I will begin to look at shorting this pair, but for now I'm still bullish. Check the chart. As always I appreciate constructive criticism and other ideas.

TheAlaskanTrader

My prior idea of AU reversing at the 50% retracement level did not happen. That being said, price is now at the 61.8% retracement level and it appears to still have valid AB=CD pattern. So if you are looking to go Long, as I am, this may be a good place to buy with proper confirmation such as a double bottom. Any thoughts?

TheAlaskanTrader

Possible Bullish Bat forming on GBPAUD. Maybe something to keep an eye on.

TheAlaskanTrader

I've been following this pair and trying to break it down using Elliot Wave. Based on what I see I believe AU is in a retracement and will head higher once it hits the buy zone I have marked in the chart. That being said it could be a higher risk trade since AU is in an overall downtrend on larger timeframes. But this is just my idea and I'm just posting it for my...