Theto_Morifi

Theto_Morifi Updated 

Looks like UJ's intentions are being made clear as the major descending channel has only just been strengthened by the previous dip that created yet another major Lower Low and the bottom end of the channel. Price is currently at a very crucial price area as it happens to be lingering on a very strong zone which was once supporting price. Is it going to break...

Theto_Morifi Updated 

This setup might look familiar yes, AXY served to inform and as a reference basis for this pair. This is because AUD is the base currency and so it is affected directly by the Australian index and how it performs. Wave B has closed above wave 5, this is absolutely normal provided it adheres to the Fibonacci rules and so it does. This form of correction is known as...

Theto_Morifi

Lovely and pure setup by the Australian index. It is currently looking like it is forming a head and shoulders pattern within a smaller degree as a corrective structure. Wave 1 of the red count is an extended wave formed by a leading diagonal pattern and it is slightly longer than wave 3. This is normal provided wave 3 is not the shortest of all the three waves....

Theto_Morifi Updated 

Last week we caught the amazing bullish spike that GN provided. It has now since unraveled a possibility of a corrective structure considering that we have just experienced an overall 5 wave impulse to the downside. The B leg of the structure is well overdo, this is because in usual instances, a corrective structure following an impulse almost always retraces a...

Theto_Morifi Updated 

This past week has been quite interesting with regards to how the yen ended off the week. Most XXXJPY pairs really soared during the last quarter of the week. Here we have CJ which has been trapped in an extra extended corrective structure following a bearish impulse in June. I will be looking for short opportunities comes Monday morning. The corrective...

Theto_Morifi Updated 

Could it be high time EU provides a corrective move? Interesting question as it has been performing beautifully over the past few months. If there is a corrective move to come into play I do believe it may be short lived as the Euro is steadily regaining its footing while on the other hand the Dollar is constantly slipping week in and week out. It will be an...

Theto_Morifi Updated 

Talks of rising US-China tensions has given some light with regards to what one can expect in the market within USDCNH with the month to come. Things are of course stilll uncertain, however the wave count seems to be corresponding with fundamental speculations. A break out of the guideline would signal a change in trade bias. A rare pattern called an expanding...

Theto_Morifi Updated 

I have been watching AU for a while now and things had been a bit unclear. However AU is showing a promising move to the upside in target of the 0.7500. There is a confluence level of more than one degree of waves. Confirmation is also provided by the base channel that is supporting the current wave 4 leg. I will be looking to trade the fifth wave of this setup....

Theto_Morifi Updated 

GN has provided a very beautiful 5 wave bearish move within a set of guidelines. Price has just broken out of this parallel channel and should be looking to create a corrective structure. I am anticipating a retest of the trendline along with the confluence of the 61.8% fibonacci retracement level. As shown, I may trade the retest leg as well, as I wait for my...

Theto_Morifi

Looking at CXY medium to long term, it has been in a hectic downtrend since 2011 mid-year. This tells me that there is a lot of underlying bearish momentum even though the 5 wave motive move has been completed as well as it's subsequent ABC corrective structure. Therefore, on this note, Could we possible expect a continuation of the preceding downtrend and a...

Theto_Morifi Updated 

UJ is looking quite interesting and could most likely be forming an extended correction of that rigorous impulse move in March. It is currently within a triangle pattern with a preceding bearish impulse. I am expecting a 5 wave impulse to the downside to complete a possible Zig zag pattern that would fulfill the Y leg of the major corrective structure. I hope...

Theto_Morifi Updated 

Silver performed very well towards the end of the previous week, closing after hitting first target of the previous analysis posted two weeks ago. I cleaned the chart up and revamped it to prepare it for this coming week. I am expecting a short pullback upon market opening caused by a rejection of level 18.100 as price failed to close above it on Friday. The...

Theto_Morifi Updated 

Earlier this week I posted the GU short term short trade idea for the corrective move after last week's 5 wave leading diagonal impulse move. With the fail to successfully retest the neckline of the double top formed within the leading diagonal, this is a confirmation signal to me that the correction has been completed and now a continuation of the uptrend is...

Theto_Morifi

RSI has just broken below EMA as a short signal confirmation. Price has formed head and shoulders pattern on the M30 timeframe and has respected top trend line of the bullish channel it is currently in. Wave pattern formed is a three wave leading diagonal forming a WXY corrective structure as the ABC structure has been completed to scale. Now the Y leg is...

Theto_Morifi Updated 

Looking at the 4 hour timeframe we can see a corrective ABC structure formed. With wave C complete we can expect a surge to the upside to continue the once bullish trend before the correction. On the H1 timeframe we have a complete inverse head and shoulders pattern. I must admit this is a weird looking neckline but it'll serve its purpose. I expect a break...

Theto_Morifi Updated 

After the events of the past two weeks where GU has had and completed a 5 wave motive impulse to the upside, it has then landed us an opportunity to trade the corrective ABC structure. This structure inn particular contains many confluence points which is a good trade indication. Price has broken below the neckline but has not retested it yet. I will wait for...

Theto_Morifi Updated 

Lovely bearish flag setup provided by EJ confluent with a double top within the flag. The week ended with a beautiful breakout leg to the bottom therefore giving us an opportunity to anticipate a clear retest and lovely entry. I've set a possible entry point at 121.150 price level which is also the 61.8% fib retracement level. 121.450 is a strong weekly...

Theto_Morifi Updated 

GU has broken out of a corrective descending channel. This gives light to a possible bullish momentum build up. We have 4 complete waves of the 5 wave breakout leg, this is more than enough information to plan to enter the trend for the final wave. Quite a simple but interesting setup, I hope you enjoy it. Target: 1.26200