Veejahbee

Veejahbee

Hi Traders, The EURNZD seems to have completed wave B of (B) which unfolded as a double zigzag pattern "w-x-y," after a strong sell-off in (A) from Oct-Dec 2018. . Wave c of (y) of B also unfolded as an ending diagonal pattern. Also, prices have made a triple bottom pattern on the chart with MACD indicator also flashing bullish divergence (Not on...

Veejahbee

Hi traders, The daily chart of NZDCHF shows that the uptrend from Sep. to Dec., 2018 is a textbook five-wave impulse pattern, labeled 1-2-3-4-5 of (A). According to Elliot Wave theory, a three-wave correction in the opposite direction follows every impulse. . So far, we have seen a five-wave impulse in A of (B) and double three combination (w-x-y) in B of (B)....

Veejahbee

Hi traders, The EURUSD seems to be in wave (b) of Y of a potential double zigzag pattern. . Price is currently retesting a key resistance that lined up with 61.8 FIb ratio, moving averages, and ascending trendline. . Considering that prices have made a double top pattern and bearish rejection candles at the confluence level, the odds strongly favored a sell-off...

Veejahbee

Hi Traders, The 4-hour chart of XAUUSD shows a bearish reversal from a key resistance level at 1346.80 that broke below a support zone. . Currently, the price is retesting the swing level that lined up with Fibonacci ratio and moving averages in wave (iv) of A. . Considering that the price has reached a critical confluence area and the corrective zigzag pattern...

Veejahbee

Hi traders, The 4-hour chart of AUDCHF shows that the breakout and retest of the Head & Shoulder pattern neckline is a complete 5-3 wave cycle. . The breakout shows a leading diagonal pattern in wave (i) and a zigzag pattern in wave (ii). . Considering that the corrective structure is completed and price also retested the broken neckline that lined up with...

Veejahbee

Hi Traders, The EURUSD broke a key support level with a text-book five-wave impulse in "i" with an extended wave (5). . A three-wave corrective chart pattern is expected after an impulse move, and the current retracement seems to be unfolding as a zigzag pattern which is most likely to terminate at the swing level that lined up with 38.2-50.0 Fib ratio and moving...

Veejahbee

Hey Traders, Hope you're having a great weekend! The 4-hour chart of ETHUSD shows that the rally from $102.78 to $170 can actually be seen as a textbook five-wave impulse in wave (i) "blue" of 3. . According to the Elliott Wave Principle, a three-wave correction in the opposite direction follows every impulse pattern. And indeed, the rest of the chart reveals...

Veejahbee

Hi Traders, The 4-hour chart of BTCUSD shows that the reversal from 78.6 Fib ratio and a sharp surge from $3412 to $4274 which broke out the descending trendline can actually be seen as a textbook five-wave impulse in wave (i). . According to the Elliott Wave theory, a three-wave correction in the opposite direction follows every impulse pattern. And indeed, the...

Veejahbee

Hi Traders, The 4-hour chart of EURCAD shows that the break out of descending wedge that lined up with a key resistance level is a five-wave impulse in wave (a). . According to Elliot Wave theory, a three-wave correction in the opposite direction follows every impulse pattern before a resumption in the direction of the trend. . We will wait for the completion of...

Veejahbee

Hi Traders, The 1-hour chart of EURGBP shows a broke out of a support level with a textbook five-wave impulse. . Currently, the price seems to be making a three-wave zigzag corrective pattern which is most likely to terminate around 38.2 and 50.0 Fib ratio that lined up with the broken support turn resistance and moving averages. . Given that the correction is...

Veejahbee

Hi Traders, The 4-hour chart of NZDCAD shows a bullish move from October 2018 as a classic five-wave impulse in wave (A) "black." According to the Elliott Wave theory, a three-wave correction in the opposite direction follows every impulse pattern. And indeed, the rest of the chart reveals an A-B-C zigzag correction in wave (B) that rejected the 38.2 Fib ratio...

Veejahbee

Hi Traders, The 4-hour chart of AUDCHF showed a reversal from a key resistance level and a broken H&S neckline. . As shown, the breakout impulse can be seen as a five-wave impulse pattern, labeled i-ii-iii-iv-v (blue). . The Elliott Wave theory states that a three-wave correction follows every impulse. That is exactly what we are looking for now in form of a-b-c...

Veejahbee

Hi traders, The EURUSD is retesting a broken ascending channel that lined up with 61.8 Fib ratio and moving averages. . This pair seems to have completed a three-wave correction that unfolds as a double zigzag pattern after a text-book five-wave impulse in wave (i) "red." . If this count is correct, the 5-3 wave cycle is almost complete, and a bearish reversal for...

Veejahbee

Hi Traders, The AUDCAD has been carving a potential double ZigZag with flat X-wave after a strong five-wave bullish impulse. . The price seems to be making a bearish impulse which is most likely wave (c) of Y and could signal the resumption of the bullish trend after the completion. . Considering, that the price has broken the corrective structure (b) of Y, the...

Veejahbee

Hi Traders, The AUDUSD seems to be completing a large three-wave ABC zigzag pattern labeled blue. . This pair reversed from a resistance level and broke out of ascending trendline that lined up with a key support level labeled wave (i). . Currently, the price has broken out of sub-wave (ii) corrective chart pattern (dotted channel) after retesting the swing...

Veejahbee

Hi Traders, The USDJPY reversed from a key support level that lined up with a daily ascending trendline then broke out of a resistance level. . The impulsive breakout labeled wave (i) blue is most likely to be part of wave 3 of larger degree. . Currently, the price seems to be building wave (ii) of 3, and it has the potential to move up towards wave (iii) target...

Veejahbee

Hi Traders, The USDNOK reversed from a weekly support level and broke out of descending trendline and resistance level. . Price seems to be making an ABC zigzag corrective pattern which is likely to attract buyers at the 38.2 Fib ratio that lined up with swing level and moving averages. . We will wait for the completion of the corrective structure and then look...

Veejahbee

Hi Traders, The EURGBP reversed from a resistance level and broke below a key support level with an impulsive move labeled wave A "blue." . The price has completed a bearish ABC zigzag corrective pattern which retested the broken support that lined up with 38.2 - 50.0 Fib ratio and moving averages, labeled wave B "blue." . Considering that price has broken out of...