TimStuyts

TimStuyts Updated 

10 days ago I presented two scenario's for GBPUSD and it seems that the bearish outlook is leading at the moment. Although the recent bearish move suggests a triangle correction for wave 4 to be in place, we need to wait for a consolidation if you are not already in the short. I didn't trade GBPUSD but traded EURGBP instead. The fact that we are testing the low...

TimStuyts Updated 

I still think we need at least one more leg down to complete the correction of the last bullish impulse. Therefore I'm looking for a bearish break for wave C lower. I will be looking for a consolidation on lower time frames and sell the continuation once we see that happen. As long as we don't see a bearish impulse followed by a consolidation (15 min tf for...

TimStuyts Updated 

The dollar index seems to be in a wave 4 correction. Price consolidates sideways and we see three legs lower. This correction might be over by means of a shallow correction. However we have to keep in mind that we might see another leg lower towards the 38.2% Fibonacci ratio as well as the wave 1-2 channel zone. If we see a break lower I will be shorting the...

TimStuyts Updated 

I believe the AUDCAD to be in its final stages of this corrective bullish move. It seems like wave B is close to completion and the lower time frames start presenting some interesting trade opportunities. 1 hour time frame: Although I think that we might see a slightly higher high for AUDCAD, this pair showed a bearish impulse today in the shape of what seems to...

TimStuyts

The USDCAD is the final stages of a major consolidation on the daily time frame. However I think we will see another test of 1.33 and likely a break. Short term I will be looking for the end of this bullish impulse of lesser degree. If that turns out to be a consolidation I will look for a buy once that consolidation is over. However be careful and wait for a...

TimStuyts Updated 

Silver is correcting in what I expect to be the wave C of the correction. This tends to be the strongest wave of a correction and I like to see a last leg lower towards 16.500 ish. The higher time frames show the minimum target for the Silver bulls to be 25.00 So there is a lot of potential and I will be looking for the reversal. Updates will follow

TimStuyts Updated 

Natural Gas got my attention because I believe we might see a wave 2 correction soon (or wave B for that matter). Once that correction has ended I would like to buy Natural Gas because the weekly time frame shows us an incredible potential. Keep in mind that price can't go below zero and long term buying would be a great investment opportunity. Updates will...

TimStuyts Updated 

AUDNZD made a strong reversal and this suggests that the Flat correction on the higher time frame has ended. I believe that the structure of lesser degree shows us a possible wave 2 correction to be next. A wave 2 tends to retrace sharp, however we have to keep in mind that we might be dealing with a wave 3 of larger degree (daily chart). In a wave 3 we often deal...

TimStuyts Updated 

I expect another leg higher for wave 4 in the EURJPY before it will be ready to finish the correction on the weekly time frame. The daily time frame shows my preferred wave count where I expect another corrective leg higher. However we have to keep in mind that wave C might already be in place. In that case we will see more bearish price action to be next. If...

TimStuyts Updated 

EURUSD seems on it way for a new low after a triangle correction. It seems like wave 5 of wave 1 is in progress and price is about to test a confluence zone around 1.094. However this is only a scenario that I'm following so I can trade the correction. More importantly the expected wave 3 of larger degree lower that should follow will be strong. We can sell that...

TimStuyts Updated 

I see two likely scenario's for next week where my bullish count for wave 3 is my preferred scenario for the moment. I will be looking for the bullish break and continuation higher. If however this turns out to be a triangle I will let price settle after the first bearish impulse and sell the continuation. A triangle almost always occurs prior to the final move...

TimStuyts

This trade is an absolute winner with three positions in a nice profit. I have said it before pips are for marketing purposes. Risk/reward is for traders. Based on my current stop loss: risk reward for position 1 = 8.5/1 risk reward for position 2 = 5.8/1 risk reward for position 3 = 5.9/1 if we extend higher I will adjust stop loss to an even better risk...

TimStuyts Updated 

In my previous post I mentioned that I favored a bearish move for EURAUD and although we saw a perfect bearish impulse I didn't see the consolidation I was looking for to sell the continuation. This is not a big deal because now we have another trade opportunity that might present an even better trade. I believe we saw a 5 wave impulse lower and I like to see a 3...

TimStuyts

The dollar index showed a somewhat complex structure lately and therefore I posted both long and short scenario's. Let's get back to my post of 4 months ago. In the above post I explained how I counted the wave structure by means of counting all inner waves. So far we saw a low after wave 15 which is an extension of 3. This in combination with the recent bullish...

TimStuyts Updated 

EURGBP might present a nice trade for the day by means of a short once this current consolidation ends. It might even be the start of a deeper correction but that is too soon to tell. When trading this short the stop should be above the consolidation. Safe trades!

TimStuyts Updated 

NZDUSD is moving in what seems like an ending diagonal for a bullish reversal. Nevertheless it moved down relative fast this week so it can as easily break lower once again. Therefore my plan is relatively simple as always. Price is closing in on a crucial structure zone. We either see a reversal which will provide several impulses and consolidations, in this...

TimStuyts Updated 

GBPUSD and the Pound in general suffered a lot lately. Nevertheless nothing moves in a straight line and I believe that the Pound pairs need to correct before anything else. But in the end we don't trade what we think but what we see. I see a possible A-B pattern for a wave C higher. I will be looking on the lower time frames for 1-2-3 reversal buy patterns. Keep...

TimStuyts Updated 

For my previous posts see link below: I can't ignore what's going on but will try to explain why I have the bias I mentioned before and why I still see the downside to be limited. Fundamentally we can talk about the Brexit (in the end this most likely only turns out to be a technical leave and nothing really changes between EU and UK) but let's not forget the...