Theto_Morifi

Theto_Morifi Updated 

A very interesting place EU finds itself in...a perfect place I must say. The previous analysis I posted showed a temporary bearish move for EU, and it has finally arrived at a pivotal zone marked by the bubble. Pivotal because there is so much confluence around this area. The ABC correction happened within a channel out of which price has just broken out of. As...

Theto_Morifi Updated 

The South African Rand has been performing beautifully against the Dollar in the past few months. However it seems that the time for tables to turn is imminent. On the daily timeframe we have a 5 wave impulse move to the downside that has just been completed. Therefore, a correction move is to be expected (ABC). The change in direction is supported by a lovely...

Theto_Morifi Updated 

Gold has broken out of a daily descending trendline and also what seems to be a bullish flag. I have since been waiting for a retest of that descending trendline and have been observing its behavior since. Naturally, the breakout leg provides an impulse move which consists of 5 waves. On the smaller timeframes, this is evident. We then expect a corrective...

Theto_Morifi Updated 

EU has broken out of a beautiful impulse channel and has provided a clear retest Apart from the elliott wave theory principles, basic trendline and support and resistance rules have been ticked off. It also does look like a head and shoulders pattern has formed (indicated by the red arrow symbols) and this is really a good confirmation of the change in direction....

Theto_Morifi Updated 

GJ has followed the ideal wave projection from the weekend and has approached the entry bubble that completes the B leg to and ABC Zig Zag pattern. On higher timeframes, GJ has respected a major resistance level and we may be looking at the start of a medium to long term bearish trend for the Sterling vs Yen couple. I will be placing my positions in the bubble....

Theto_Morifi Updated 

Gold has been performing amazingly on the short front for the past two weeks, what could be next on its agenda list for the new month? Well it appears the WXYXZ correction structure has just been completed while adhering to the channeling principle at the same time. Looks like the longs are gearing up to take over and I want to be a part of them that do. I will...

Theto_Morifi Updated 

Interesting structure displayed by GJ. A clean wave 1-2-3 structure formed, with wave 3 having a rare expanding ending diagonal patterns. Whew quite a mouthful. Nonetheless, I will looking for a short entry opportunity on the lower timeframes. This should be a very long and profitable trade. Have a blessed and profitable trading week ahead. Targets:...

Theto_Morifi Updated 

Could it be possible for ZAR to keep growing stronger against the Dollar? definitely looks like it. Looks like a lovely zig zag corrective structure is well in heading towards its completion after a major bullish impulse move. I will be looking to capitalize on the final push towards the end of the fifth wave. Then eventually look for long positions to catch the...

Theto_Morifi Updated 

Development from the earlier EURUSD analysis I posted at the the beginning of this week has provided us with a beautiful corrective move to the downside to create a possible 2nd wave. The ABC pattern created by wave two in this case is an expanded flat. I will be looking for entry confirmation on the lower timeframes. The confluence bubble is made up of a 50%...

Theto_Morifi Updated 

Amazing structure in the making with gold. It has been a while since I have seen such a lengthy correction. Nonetheless, it only means one great thing, that the market is gearing up for a strong move sometime in the near future. I hope we will all be ready for it. WXYXZ correction structure forming. I am lookign to capitalise on the C leg that'll give the end to...

Theto_Morifi Updated 

One thing I love about the wave principle is its clarity in structure. Following a medium degree five wave impulse move ( black waves ) the market gave a corrective ( ABC ) move. Wave C has just been completed and we're now looking for a follow up impulse. The main trade anticipated is the long trade after wave 2 has been completed. Hope you have a lovely and...

Theto_Morifi Updated 

Last week's UZAR post was long biased, however as the week went on, the trade got stopped out at break even and a new setup emerged from the trade's progression. It appears the wave structure is still in the corrective phase of the 2nd wave. Structure may be forming a regular flat, with wave C creating an ending wedge pattern. Expecting a 5th and final wave...

Theto_Morifi Updated 

Following the previous week's 3rd wave impulse move by UJ, this is the update on the end of the third wave and the possible beginning of the 4th wave pullback. At the very same time, it appears that a cypher harmonic pattern is underway. I am looking to capitalise of the CD leg of the harmonic pattern and then later take on the 5th wave to complete the impulse...

Theto_Morifi Updated 

One thing I absolutely love about waves is that they always provide you with a clear understanding of where you are in a trend. Lovely 5 wave impulse move being created by CJ at the moment. Waves 1-4 have been completed, looking to capitalise on the two possible wave 5 targets. 100% of wave 1 and 161.8% of wave 1. Target 1 is more likely to be respected but...

Theto_Morifi Updated 

Beautiful Bat harmonic provided by silver. The CD leg also happens to be traveling within a descending channel. This only improves the confluence of the analysis. No waves incorporated in this setup, still need some pattern clarity on that front. Looking forward to seeing this one play off nonetheless. Targets: - 24.62800 - 24.30350 If you enjoy this post...

Theto_Morifi Updated 

Interesting foramtion provided by CJ. It seems to be forming an expanding ending diagonal to complete the major degree's wave C. The confluence in this trade idea is driven by the 5 wave impulse structure for an ordinary wave C and the diagonal pattern which also consists of 5 waves. The reason my target is so far down is that in an expanding wedge, the 5th wave...

Theto_Morifi Updated 

Lovely confluence formation between the Eliott wave principle and the harmonic principle. Looking for a lovely third wave move to be completed and at the same time a beautiful Gartley CD leg is to be completed. Looking forward to seeing this one play out. If you have any views on USDZAR, do shoot in the comments below, I would highly appreciate it. If you...

Theto_Morifi Updated 

On the Daily timeframe, UJ has graced us with a beautiful break to the upside out of a long lived falling wedge. On this scaled-in view of the breakout leg, I am looking for follow up momentum provided by the breakout leg. It ( the breakout leg ) is naturally an impulse type of wave and must therefore be followed by a correction wave which in some cases...