The_Traders_Memoirs

The_Traders_Memoirs

It looks like EUR/NZD has potentially completed a five-wave structure downward, which could set the stage for short positions if the following conditions are met: 1️⃣ A corrective three-wave structure forms, ideally reaching around 1.89960, aligning with the 61.8% Fibonacci retracement. 2️⃣ A downward move follows, breaking below 1.88014, confirming a potential...

The_Traders_Memoirs

For the EUR/CHF pair, it appears that we have completed (or almost completed) the fourth-wave correction in the form of a Zigzag. Several factors support this assumption: • The price bounced off the price channel, signaling a potential continuation of the trend. • Wave 2 retraced to the 61.8% Fibonacci level, suggesting that Wave 4 was likely to correct to...

The_Traders_Memoirs

On the 15-minute chart, it looks like we have completed the first wave, and we are now in a corrective phase. However, this correction, despite reaching the level of the previous 4th wave, has not yet retraced 38.2% on the Fibonacci scale. For an optimal entry, it would be preferable for the correction to extend slightly deeper, ideally reaching the 50-61.8%...

The_Traders_Memoirs

It looks like we have completed or are close to completing wave 4 for EURCAD. Since wave 2 retraced to the 61.8% Fibonacci level, the fourth wave should be shallower, with a likely completion around the 38.2% Fibonacci retracement level. Additionally, the formation of wave 4 aligns with a price channel connecting the first three waves, reinforcing the overall...

The_Traders_Memoirs

I assume that Bitcoin’s correction has ended, and we are now forming the first five-wave structure as an upward impulse. Currently, we are in the third wave on a lower timeframe, which suggests strong bullish momentum. A breakout and consolidation above wave B will serve as confirmation for the bullish scenario, potentially paving the way for a new all-time high (ATH).

The_Traders_Memoirs

On the daily chart, GBPUSD appears to have completed an upward correction in the form of a Zigzag (Wave A equals wave C). Now, we seem to have either completed or are finalizing the first five-wave structure downward (1H), signaling a potential trend shift. After a short-term corrective retracement, I anticipate a continuation of the decline, confirming the...

The_Traders_Memoirs

Bitcoin remains in a correction phase, but I do not believe the broader uptrend is over or that we have shifted into a sustained downtrend. Looking at the hourly chart, the сurrent upward movement appears weak and lacks impulsive characteristics, suggesting that the correction is not yet complete. A potential dip toward the $75,000 zone remains a possibility...

The_Traders_Memoirs

The EURUSD pair continues its upward movement, which I identify as wave C of a higher degree. This suggests that the market is currently completing a corrective Zigzag or Flat pattern, with further upside potential before a possible reversal. If this scenario holds, we should expect price expansion toward key Fibonacci extension levels, confirming the completion...

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.