WaveTalks

WaveTalks

Trading@103.57 Getting it right at the top@104.15- It's a feeling of nirvana-vow. As per previous update mentioned below-I suggested in trading strategy that UJ can look for a similar high or new high post it formed a high@104.15. Only thing which has not turned in favour was -I expected this with NFP Data- well that much leeway should be allowed. Already -1st...

WaveTalks

Its very important to understand where you are wrong so that you can minimise your risk. As per previous update- we took short assuming that 5th circled wave is done from 102.72 when UJ made high@103.74 & as soon as it started moving above the swing high 103.69 after a fall@103.45's - I knew this 5th wave is extending so I was out of short call & we have just seen...

WaveTalks

Updated 

USDJPY- Falling in 4th Wave -expected 102.72 - Rising Trendline broken confirms that retracement has started from highs of 103.74 This move likely happens to A-B-C corrective move so Stops have to be strictly above 103.75 for targets 102.75

WaveTalks

Trading@103.60 UJ -as expected overnight going below 103.50 post making a high@103.66 - I expected to pick it in the bottom zone of 103.30-103.35 where -iv th wave retraces 38.2% Regards, Abhishek H. Singh, CMT Expected Overnight Achieved this morning as per IST(Indian Standard Time) Heading Upside for target zone 103.75-103.80 once it crosses 103.65...

WaveTalks

Looking for e-wave down

WaveTalks

Once trendline breaks & UJ sustains below the line then we will have UJ down in the zone 102.00-102.10 zone

WaveTalks

Updated 

From lows@1.2501 -it is blue wave A-B(Triangle)-C wave which could finish at an equality distance of A-wave@1.3540. Within C-Wave which is further tracing as Red Wave sequence A-B(Triangle) -C wave & we are in C-wave (Red) within Blue C-Wave. Likely, we are close to a thrust upside with very important support@1.3000 Red C-wave also has equality distance in the...

WaveTalks

Updated 

d-wave kisses the top of resistance line in triangle@1.3215 -shall be looking for e-wave & then push higher Previous Update

WaveTalks

d-wave almost done at 1.3215-1.3220 within larger C-Wave. If falls from resistance line, then shall look for e-wave or then push higher or if breaks falling trendline then we continue upside. Previous Update USDCAD- Triangle & Traingle= Bullish Opportunity

WaveTalks

Updated 

Changed my counts, but was on top of the fall- from 1.3160's - yes, I expected 1.3114 should hold- not holding suggests that we had completed 1st leg at tops@1.3194 & retraced by 61.8% so I shall be looking for an advance till 1.3048 is intact Crucial Support- 1.3048 Move get firm footing above 1.3177-1.3180 zone Recent Low@1.3086 has retraced 61.8% of the...

WaveTalks

Updated 

From 1.3048- iii-wave completed at 1.3184 since then iv-wave is shaping out as A-B-C. Trading Opportunity Going longs close to 1.3114-1.3125 zone where C-leg will completes & starts the "(v)" th wave with critical stop of 1.3114 & below. or Going Above 1.3194 -definitely it is upside.

WaveTalks

Trading@1.3156 USDCAD is early in 3rd wave advance- once it starts moving above 1.3184- it will have firm footing, but also take care post creating a new high -it will retrace in corrective fashion- critical level@1.3048 should not be breached on the downside. Taking that as strong support- I shall be looking forward for an advance. Critical Support-...

WaveTalks

(( )) - Means circled alphabet Note- if UCAD does not move above 1.3125 & sustains above that zone & moves below 1.3000- which is critical level then this complete sequence gets changed. I was very clear in my earlier updates that we should look for long only above 1.3280 This fall from close to 1.3280 to current lows@1.3048 still looks to be part of ((y))-wave...

WaveTalks

Trading@1.3217 Falling from 1.3280 looks very much corrective & if 1.3164 is intact -this will suggest that the III - wave itself is subdivided & going above 1.3280- it will likely push upside suggesting that there is demand for dollars.

WaveTalks

USDCAD pushed up in a B - wave from lows@1. 3170's to current High@1. 3230. We are likely to finish B-Wave Upside & Shall look for a retracement in C-Wave -which will be confirmed once UCAD starts moving below 1.3210 & sustains below that level. C-Wave measures equality in the zone 1.3125-1.3135 which is also confluenced by 50% retracement -likely suggesting that...

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5th wave was sub-divided & made a high@1.3275 - Now we shall look for A-B-C. Out of which A -Move which has already started from 1.3275 highs should move in down -up & down to halt in the zone 1.3135-1.3145 where it completes 50% of the retracement.

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The fall of 1.3200 handle likely suggested below 1.3164 did shallow retracement till 1.3136 could be A- wave & Bounce was seen as a B - wave so likely we could have a C - wave completing either at 1.3123 (38.2% -retracement) or at 1.3075 (61.8% retracement) Kindly do your due diligence as well

WaveTalks

Already UCAD has bounced back from 1.3000 lows & has started 1st leg up. We shall look for some retracement going below 1.3164. Retracement zones could be 1.3110-1.3125 where it completes 38.2% retracement -which is the pullback looking at the moment. Kindly be careful of doing your own due diligence. Regards, Abhishek