Theto_Morifi

Theto_Morifi Updated 

CJ is currently traveling in a beautiful descending channel and at the very same time creating a 5 wave impulse move. Waves 1-3 have been completed, and I am currently awaiting the end of wave 4. The law of tendency is at play here as waves 2 and 4 are forming two different corrective patterns. Multiple targets for the fifth wave as there is always more than one...

Theto_Morifi Updated 

Simple setup with GJ in a very good place currently. There is so much confluence going down in this are that it's almost too good to be true. A 5 wave impulse complete, price meandering on a minor support level, Divergence with the RSI, a cross- over of the EMA and the RSI signalling momentum handing over. Quite the handful of bullish pointers. Let us observe this...

Theto_Morifi Updated 

Lovely opportunity to capitalize on the pullback move by AJ. A complete 5 wave impulse, and price forming a possible double bottom pattern on the smaller timeframe is a good indication for us to expect a corrective move in the near future. We have a cross-over of the EMA and the RSI signaling a a change in market momentum. Good sense of confluence. More than one...

Theto_Morifi Updated 

5 wave impulse completed by EU with a lovely extended 5th wave to end the impulse. This means that a lot of energy was expelled in the creation of that wave hence the expected consolidation that followed suit. A consolidation is good, because it gives us time to prepare and catch up on our notes and observe past behavior. I am therefore expecting a deep A leg...

Theto_Morifi Updated 

Lovely opportunity to tackle yet another downward surge in Oil for the day ahead. Today the markets opened up in a beautiful sell off across many currency pairs as well as commodities. I do believe that that sentiment is not yet over for Oil and one could expect, according to this minor degree 5 wave count, a fifth wave completion. This 5th wave will serve to...

Theto_Morifi

The past two weeks have been really choppy and unclear with EU. With many traders (including myself) anticipating a momentum based move from the pair after a rather dummy double top formation between the 31st of July and the 6th of August to try and catch out early sellers. I have since been waiting in observation as the expanded flat correction tends to develop...

Theto_Morifi Updated 

Keeping it ultra simple with the UCHF setup. We have a lovely ending diagonal to finish off the 5 wave impulse move to the downside. One could even arguably call the formed pattern a classic three-drives patterns which is in fact a skew triple bottom. I have made reference to this pattern before and it appears it is starting to be more and more evident in the...

Theto_Morifi Updated 

Lovely 5 wave impulse setup by AN. Looking to trade the completion of the 5th wave of the setup. Momentum is currently still bouncing well from the oversold level for the RSI and converging with the EMA. Lovely indication that we may be arriving at the pinnacle of the uptrend. This only serves to improve the amount of confluence suggesting a short term upward...

02:36

Theto_Morifi Updated 

It has certainly been quite a while since I last spoke of or posted a USDCNH setup and this has been the primary reason. The trade has been playing out for just over a month now and TP 1 has just been hit. I haven't always been one to have medium to long term trades, a week and a half (max) is usually enough for my setups to play out. I did, however, enjoy the...

Theto_Morifi Updated 

Lovely setup provided by EJ at this point in time. It is very clear about being in the corrective phase of a major 5 wave impulse structure. I am expecting a zig zag ABC correction structure as confluence is pointing into the direction of a possible head and shoulders pattern in the making. Now trading is reactive and not predictive, so in order to maximize the...

Theto_Morifi Updated 

Very clear and straight forward 5 wave impulse developed by GJ for the week ahead. All the guidelines have been ticked in this case for example the guide that states that wave 2 and wave 4 are almost always different corrective structures. Looking to trade it within the channel parallel channel. Targets: -141.400 -142.400 -143.400 If you like this setup do...

Theto_Morifi Updated 

CJ had a very impressive run the previous week and has built up a lot of momentum. A five wave impulse move is currently in play. Identifying a base channel helps one understand where the possible reversal levels for the 4th can be. In this case we have quite the confluence zone upon where the end of the 4th wave appears to be. A base channel retest, previous...

Theto_Morifi Updated 

An interesting formation by GU, we may just be right in the center if an extended 3rd wave. Price is currently forming or has just formed the 4th wave of the 5 wave motive move. Looking to trade the 5th wave. It will be interesting to see how price behaves upon the market opening, however if price moves beyond wave C of the running flat structure, the setup will...

Theto_Morifi Updated 

Perhaps the rally is not at all over, with the Euro appearing to be apologetically resilient during such a time we might just see lovely highs being reached. There was some uncertainty last week as to whether or not EU would tank, however it just seems clear now that it was creating a corrective structure. A running flat structure. These types of structures often...

Theto_Morifi Updated 

Large double top pattern spotted on the NJ higher timeframes spelling out some strong bearish sentiment for the technical heads. As we know this to be a trend reversal pattern, it's quite a good indication that perhaps we are in the early stages of the new trend. Price is currently in a corrective structure after a previous impulse-major degree in blue. In the...

Theto_Morifi Updated 

It appears the bears may not be done just yet...With the US economy strengthening despite all that is going on, this may raise questions on whether gold may be tentatively losing it's safe haven qualities. Quite the interesting topic. However in this technical aspect, the waves are siding with the rather unfortunate side of the coin for gold. The base channel...

Theto_Morifi Updated 

Lovely trade opportunity presented by CJ for the upcoming week or two. Price has broken above a resistance zone and seems to be creating a complex corrective structure to make it to a possible 61.8% fib retracement of the previous bearish impulse. The interesting aspect of this analysis for me is the 5th wave truncation of the 5 wave impulse before the...

Theto_Morifi Updated 

Lovely 5 wave setup presented by AN. It's lovely because it's simple. Looking at the blue colored letters we've got a 5 wave motive impulse followed by a zig zag ABC corrective structure. Now the question is, should we expect a same scale 5 wave impulse continuation? Most probably, however it appears price might also be consolidating in between two major zones...