The_Traders_Memoirs

The_Traders_Memoirs

For GBPUSD, I assume that after completing a correction on the hourly chart, which paused at the key 61.8% Fibonacci retracement level, we have formed wave 1 of a new upward movement. Currently, we are finalizing wave 2, setting up a classic 1-2 structure, which often precedes a strong impulsive rally. A confirmed breakout above 1.24286 will validate this setup,...

The_Traders_Memoirs

GBPUSD has developed a five-wave structure to the upside, which I interpret as a potential wave A of a larger-degree Zigzag (ABC) correction on the higher timeframe. This suggests that the pair is in the midst of a corrective phase (wave B) before resuming its upward trajectory. Currently, we are seeing a retracement, which aligns with typical Elliott Wave...

The_Traders_Memoirs

USDCHF appears to have completed a five-wave decline, followed by a three-wave corrective structure in the form of a Zigzag (ABC) upward. This pattern aligns with Elliott Wave principles, suggesting that the correction may be coming to an end, paving the way for the next downward movement. Key confirmation for further decline will come if the price fails to break...

The_Traders_Memoirs

WTI OIL: Bearish Channel with a Potential Upside Breakout WTI CRUDE OIL continues to trade within a well-defined downward price channel , with minor breakouts failing to gain traction due to the lack of consolidation. This price action suggests that the market remains under bearish pressure, but the structure itself hints at a possible reversal. According to...

The_Traders_Memoirs

EURUSD has completed a clear five-wave structure to the downside, signaling the end of a dominant bearish phase. Following this, the pair has entered a corrective phase, which currently appears to be forming a double Zigzag pattern. To confirm a resumption of the bearish trend, we need a decisive break below the key level of 1.03356, which would validate the...

The_Traders_Memoirs

AUDCAD has been consolidating within a well-defined bearish flag formation for the past two weeks, marked by small breakouts of key levels—a typical characteristic of this pattern. This type of consolidation often acts as a continuation structure in a downtrend. I anticipate that once the price breaks below the lower boundary of the flag and confirms the...

The_Traders_Memoirs

US 500: Poised for Growth After Minor Correction US500, following its recent correction, has formed—or is in the final stages of forming—a five-wave structure to the upside. Next, I anticipate a minor corrective pullback (3 waves down), likely aligning with key Fibonacci retracement levels. Once the correction completes, I expect the upward trend to resume.

The_Traders_Memoirs

The recent upward movement in Bitcoin strongly resembles an initial diagonal pattern, characterized by a series of three-wave structures. Such a pattern is often followed by a sharp correction, which aligns with the pullback we have just observed. I expect the correction to complete soon, paving the way for the upward movement to resume. However, the outlook...

The_Traders_Memoirs

In US100, it seems we have completed a correction in the form of an upward Zigzag. This was followed by a five-wave structure to the downside, signaling a shift back to bearish momentum. I anticipate a brief corrective move upward, likely forming a three-wave structure, before the market continues its decline. This setup aligns with the broader downtrend, and...

The_Traders_Memoirs

In GBPNZD, it appears we have completed a five-wave structure to the downside. Following the current correction, likely taking the form of a three-wave structure, I anticipate the market will resume its decline, continuing the broader bearish trend. Traders should watch for the correction to complete before considering short positions.

The_Traders_Memoirs

USDCAD appears to be consolidating in the form of a triangle pattern. Based on my wave count, the pair is currently completing Wave D within the structure. And, after Wave E concludes and there is a confirmed break above Wave B, I anticipate further upward movement. Triangles often signal a pause in the market before a continuation of the prevailing trend. In...

The_Traders_Memoirs

Staring at charts all day doesn’t make you a better trader, it just makes your eyes tired and your nerves fried. That’s why I rely on alerts—signal lines at key levels in both directions. They’re like my personal assistants, letting me know when the market needs my attention, so I don’t have to babysit the screen. It gives me time to focus on other...

The_Traders_Memoirs

Currently, I am marking Bitcoin’s movement as a correction in the form of a double Zigzag (WXY). However, Bitcoin often exhibits the ability to extend waves without altering the broader structure...and we can fall further down. The bullish scenario will take precedence if the price breaks above Wave X at 102,740. That is, of course, unless the market transitions...

The_Traders_Memoirs

The current upward movement in EURCHF lacks the characteristics of a strong impulse, leading me to assume it is part of a corrective structure within the fourth wave. I expect the pair is beginning to form the fifth wave of the larger 1st wave down. However, an alternative scenario comes into play if the price breaks above the 0.93894 level, which could...

The_Traders_Memoirs

Bitcoin has completed a five-wave structure to the upside, showcasing bullish momentum. Currently, the market is in a corrective phase. However, this correction appears too shallow to me. Ideally, I expect the price to retrace further to key levels around 98,500 or 97,500 before resuming its upward trajectory. These levels align with deeper Fibonacci...

The_Traders_Memoirs

It seems the correction in EURUSD has concluded, taking the form of an ABC Zigzag. The pair has likely formed or is in the final stages of forming the first wave of a new downward impulse. After a brief corrective pullback (Wave 2), I anticipate further declines as the market continues its downtrend.

The_Traders_Memoirs

Soybean prices are currently consolidating within a bear flag pattern, characterized by minor breakouts of key levels. I anticipate that once the lower boundary of the flag is broken, the market will continue its descent, confirming the bearish scenario. Should monitor for a strong breakout below the flag’s support to validate short positions.

The_Traders_Memoirs

In USDCHF, it appears that a five-wave structure has completed to the upside, breaking above the corrective Wave B of the prior Zigzag. I anticipate a minor correction in the near term, followed by a resumption of the upward trend.