TradingEW

TradingEW

Now Wave iv overlap ii, forming an ending diagonal wave y, Setting up a zigzag wave v of ED, towards y = w. SL @ invalidation of ED count.

TradingEW

Wave {ii} correction retraced well over 61%, now poised to decline on wave {iii} . Setting up short on a medium term impulse down towards target 1.6182 x {i}. Requires patience to hold, with opportunities to add on highs. Potential Trade of the Week ?

TradingEW

FTSE wave count seems cleaner than that of DJI and S&P500, now on wave (5) of an expanding ending diagonal {5}, poised to go up on a corrective advance. If a medium term buy limit @ 6527, with tight SL set at invalidation of wave count - if it breaks lower channel line or the next lower channel line. It's so tight, R/R =11.70

TradingEW

Gold plunged right down to an invalidation level for an expanded flat correction. Whether this correction wave count has been invalidated or it still holds, the PA since August 2013 top has been corrective and reasonably complete as a wave (b), waiting to be retraced by the next impulse wave (c).

TradingEW

The overall view is set for reversal. While looking at 5 min. chart, last 6 hours PA has been corrective, which will be retraced and find new low, before reversal.

TradingEW

Wave count on 4hr. seems intact & set to go lower on the impulse (v)th leg. Longer term Daily chart:

TradingEW

More upside before a wave (c) plunge.

TradingEW

selling on 3 of 3

TradingEW

Experimental trade with small position size, between Fibonacci ratios, allowing tight initial SL and maximizing R/R. Keeping a running trade journal in following comments:

TradingEW

A correction within a correction sometimes called the 'x' wave { here wave (b) of correction ii} can be so unpredictable, time consuming, whipsaw within short ranges and not going anywhere; even if it's a minor c wave it can turn out to be an ending diagonal of deminishing ranges. It's a pain to be in. Therefore, while there are better R/R elsewhere, tracking this...

TradingEW

A delay of an extended wave (c). Now poise for 1st wave down.

TradingEW

Moving lower to complete last leg of zigzag wave (x).

TradingEW

Almost ready for resuming uptrend on wave (v).

TradingEW

Working on 5min chart for a completion of wave iv. Minor wave count reveals it's on minor wave (v) of (c). May have completed or nearly complete (c). Setting up for an impulse wave v target at least new low.

TradingEW

A possible reversal point after completion of 4th wave correction and starting down on minor (iii). Target 1.6182 x (i) @ 1.0710 with tight SL 1.1406 @ invalidation of wave count where it breaks upper channel line. Now R/R is about 7.0.

TradingEW

Waves can be counted this way as well. While watching XAUUSD at the same time, just wondering which way will USDCAD go??

TradingEW

Wave (4) retraced a few points above 0.6182 x wave (3) { see link below EURUSD - long term EW } and resumed down trend on 18 June, on wave (5). Now forming a wave ii correction, setting up for a medium term 3rd wave down ........... soon. It's only an alternate wave count, anything can happen.

TradingEW

From major 24 July 2012 low, this pair has been advancing in an impulse wave with a typical extended wave (3). Now, moving towards completion of a complex wave (4) which alternates with the simple (2). Last 3 weeks decline is just the 5th wave of (c), before resuming uptrend. See attached link for short setup.