It looks like USOIL is preparing to complete it's two month long correction phase. The pattern in question seems to be a zig-zag correction pattern tha consists of a 5 wave to form (a), 3 waves to form (b), and 5 final waves to complete (c). I will be looking to ride wave 5 that will complete wave (c) and then start looking for longer term short opportunities....
GJ is still looking bearish, Last week gave us a lovely WXY correction which formed the structure to create wave 4. I am now looking to ride wave 5 down to complete the impulse structure of wave C. Target: 153.000
GJ seems to be nearing the end of a complete 8 wave cycle- 5 impulse waves and 3 correction waves - Our current position in this wave cycle is in the correction phase. However, it seems to be coming to an end. I am expecting the completion of a final wave to price level 153.000. This is a confluential zone where we have: -Support Zone - 78.6% fib retracement...
It seems like we might have a textbook style 5 wave impulse move to the downside provided by UJ. Wave 5's target is extracted from the fibonacci extension of waves 1-4. Target: 125:500
The 4HR timeframe is providing a good perspective of gold for me currently. It appears that a bearish impulse wave cycle has run its course followed by its subsequent correction cycle. I am now looking for short opportunities as the momentum shifts from bullish to bearish. Confluence points: - Impulse wave complete ...
Beautiful leading expanding diagonal having formed by UCAD over the past few weeks. I must say it has been a while since I've seen one of these in this magnitude. Getting right to it, I am expecting a wave (C) impulse to the downside to complete the major ABC correction. Wave A consists of a 3 wave structure, and so does wave B, this then provides the possibility...
Amazing structure formed by GU. Clean 5 wave impulse followed by a complex corrective structure. Price has bounced off of the 61.8% fib retracement level of the impulse which also happens to be confluent with a support level. On the m15 timeframe, price has broken out of a descending trendline and has just retested it. This is quite the concoction of a long bias...
What a lovely 5 wave impulse move provided by GJ. Wave iii was quite extensive, but regardless of that, wave 4 has respected the channeling principle and has validated the base channel that creates a support area projected from waves 1 and 2. I am looking to capitalize on the 5th wave impulse that is needed to end this subwave impulse move for the major degree...
EU has been moving in a very strong uptrend since last year and has provided a beautiful and clear 5 wave motive structure. We are currently in the final stages (until proven otherwise) of the corrective strcture which usually comprises of 3 waves. I am looking to capitalize on these dying stages of the correction whilst waiting for a clear structural indication...
The past two weeks have provided a lovely ABC correction pattern for UCHF. I had been monitoring it all the way through. Post correction, it is very likely to expect an impulse structure. We may find ourselves in the beginning stages of a powerful impulse wave. Now, because we are still in the first two waves of this structure, the possibility of the entire...
A king-sized opportunity seems to have presented itself with gold. Looking absolutely textbook as it appears price is gearing up for a bullish impulse after having corrected with a lengthy structure. Personally I am not a long term trader but for this one I may make the exception of digging deep in my patience bag. 2120? New high possibility? Well I suppose time...
Looks like a lovely opportunity has presented itself with GU. A complete 5 wave impulse move to the downside, set to be followed by a corrective structure. Waves A and B have been completed and we are now starting a wave C impulse to the upside. This long setup is only short term as there is a great possibility for GU to fall long term. This we will be unpacking...
Absolutely amazing and quick correction move by GJ to the 50% fib and 61.8% fib bubble that has been analysed previously. I will be looking to enter the beginning of the third wave or C wave down. Let us see how it plays out. Please do let me know what your thoughts are on this pair for the upcoming week. TARGETS: -151.350 -149.600 -146.650
Last week was a very slow week for EU, it has been in a shallow and ranging structure. Again, this for me says that potential energy is being gathered up and price is gearing up for a big move in either direction of course. For now, using the Elliott wave theory, we may be expecting another thrust to the upside. I will be putting the main emphasis of my targets...
USDZAR has been following the correction dtructure very well since the week began. As usual the correction structure consists of an ABC wave count of which the C wave subwaves are always 5 waves. This represents a final bullish or bearish impulse in the opposite direction before the overall trend momentum takes over and continues its course. I am currently...
Absolutely stunning run by USDZAR last week, giving off a strong third wave bullish impulse. The impulse move also happened to break the pair out of a daily descending channel, looks like this may be the beginning of a strong uptrend. At this point it is merely speculation based on the technical data provided by the wave theory confluent with a few support and...
Whenever multiple styles of trading come together to give off a harmonious (excuse the pun) setup, I always gear up for a big move. UJ has provided a clean 5 wave impulse move to the upside and therefore breaking out of an ending diagonal (that can be seen on the daily or weekly timeframes). We find ourselves in a lengthy correction/consolidation. We may be in...
Ending the week very well with a strong impulsive move down to complete a verypowerful C leg wave, we can now expect a correction wave structure. On the Weekly Timeframe analysis (which I will post below), GJ is long term short. Therefore we may be seeing the first two wave developments of a large degree bearish impulse move. Ideally we'd want to catch the third...