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Weshareio

We have been trading bearish for a while now, I expect the bearish direction continues to complete the (Y) of the double correction pattern. We have already formed the (W)-(X) leg.

09:34

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Weekly analysis video for AUDUSD, XAUUSD, USDCAD,EURUSD and GBPUSD.

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Price has been trading in an impulse phase only now we are starting to trade bearish as a potential A-B-C Zig-Zag correction pattern. We are now at a wave (C) phase, we will see a potential strong sell-off from price. We know that wave (A) and (C) are often equal so we can use that idea to set target profits for a wave (C). The corrective phase for a wave (B)...

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Previously we talked about Gold selling-off as we saw wave (C) form an Ending Diagonal Pattern which in this was a contracting diagonal. It seems like price continued to rise and that doesn't really invalidate the idea of an Ending Diagonal Pattern, but we have to see a short term buy before seeing the next drop on the XAUUSD chart. The pattern is still occurring...

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We have been in a bullish trend a little while ago as an impulse pattern, then is now followed by a corrective pattern in the bearish direction. The correction move is a potential zigzag correction. On the correction aspect we already had wave A and now wave B is forming so most likely we will start seeing the price starts trading bearish soon after we see a minor...

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Price is trading in a wave 4 phase; we are at interesting levels where we have the 38,2 and 50 Fibonacci levels. Soon price will move in the upside direction as wave 5. Wave 1 and 5 cannot overlap to validate this pattern. Price needs to make a new high.

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USDCHF is trading in a downtrend; the price will continue to move in the bearish direction. We are in an impulse move phase 1-2-3-4-5 sequence. Waves 1 and 4 are not overlapped making it a good pattern also the wave 1 and 2 are not equal. The downtrend wont last long but worth looking into.

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Price is currently moving in the downtrend direction, we were recently in a corrective state. We know that corrections are always followed by motive waves. We are in an impulse state we might see a possible small correction before the next sell-off. We might make new lows it might take a while or perhaps get a bigger 1-2 sequence.

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Price is trading in bullish momentum, we have wave 5 as the extended wave on the blue degree. Often time wave 3 is the extended wave but in this case its wave 5 but remember wave 3 can never be the shortest wave of all the impulse phases on the impulse pattern.

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Price is trading in an impulse move, I'm expecting a wave 5 drop soon whether on the current level which is the 50% or 61.8% Fibonacci level although the price can't break the marked-up level.

04:20

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For a while, we have been in a corrective state on AUDCAD and recently price is turning back up in an impulse move. Chances are we will continue moving in the same direction.

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Price is trading in a short term downtrend on the 4hour to 1hour timeframe. We are in an impulse phase, in this case we have waves 1,2,3,4 and waiting for wave 5 completion which can offer a last wave sell-off. Its safe to say the dollar will be weak for the next few days.

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USDZAR has been trading bullish in the long-term or higher timeframe, we are currently trading in a corrective phase as a 1-2-3-4-5 where wave 1-2-3-4 has already occurred and we are waiting for wave 5 completion. Wave 4 is a possible triangle pattern, keep in mind that waves 1 and 4 can not overlap so we can use that idea to use as stop loss or invalidation...

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Gold has been trading bearish for a while now and it's clear we are in an impulse phase. Wave 1 and 4 are not yet overlapped and wave 4 is trading between the 38,2 to 50% Fibonacci levels. Price is more likely to touch 50% before selling off soon and completing the fifth wave. The wave 5 is a motive wave meaning it can be an impulse or a diagonal pattern.

11:47

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EURUSD has been trading bearish for a while now I expect the downtrend market to continue. We have two possible counts but in the same direction which is a zigzag correction pattern or an impulse move for the wave 5 completion meaning we can still see a deeper pullback prior to that.

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Wave E should show weakening before looking at buys. Remember it can always be a zigzag or flat so it's better to wait the wave E completes and reverses a bit.

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USDCHF Had a recent major sell-off not so long ago, chances are the bear market will continue to occur. The current move is a potential impulse move although we have to see wave 4-5 unfold and afterwards we will see a bigger A-B-C zig-zag correction pattern before the market rallies again. To be fair on the higher timeframe we are bullish but we will have periods...

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Instrument: Forex Trade Type: Day Trade Pair: EUR/USD TimeFrame: 15min Direction: Sell