VijaySanghishetty

VijaySanghishetty

Silver is still holding the downward channel. Breaking below the correction channel can create more downward pressure.

VijaySanghishetty

Though I have switched to alternate wave count on GBPUSD. My initial Idea published earlier is still valid and we can expect another push higher. Here is my initial wave count. Though the wave counts changed, the direction remains the same:

VijaySanghishetty

The pair has completed the move down as expected in my previous trade idea. if the pair breaks the upper trend line, we will see a final impulse wave up. if it breaks downward. then we need to wait and watch for the correction wave to play. Here is my initial trade idea for the downward movement which went as per the plan:

VijaySanghishetty

it already broke the trend line. Sell any pull back with good risk reward ratio

VijaySanghishetty

More downward pending..??

VijaySanghishetty

break of the trend line should resume Wave iii. Buy at the break out.

VijaySanghishetty

After the completion of Wave 5 of wave 3 (From my previous trade set up). Wave 4 correction is on it's way. Break of the trend line confirms the completion of Wave 4. Sell at the break out.

VijaySanghishetty

With the new impulse move. we switch to the alternate count posted in my previous idea With this new Impluse move we can expect a down ward correction. There is still a possibility of downward movement of wave c to complete Wave (b). so I keep another alternate count of wave 4 Zig Zag correction. In either of the wave counts: A correction and move up is a...

VijaySanghishetty

Break below the wedge confirms completion of Wave (A) (of larger Wave C from Weekly correction Pattern) This will start Wave (B)

VijaySanghishetty

Primary count is that wave (b) is yet to complete with one more five waves push lower. Alternate count if the price pushes high is: Wave (b) completed and wave (c) in progress with five waves push higher.

VijaySanghishetty

We are in the middle of a three wave correction. Wave B is completed with the Triangle correction. Expect a 5 Wave move upwards to complete Wave C.

VijaySanghishetty

Downward break of the triangle can start a Wave 5. Expected completion of Wave 5 can be around 191.1ish.

VijaySanghishetty

EURUSD is rejected at 1.1450 (Good round number). Stochastic turning downwards from over bought area. MACD showing downward momentum. Should be a good spot to cash in some downward moment.