james_007

james_007

GBPUSD has completed 5 waves on the weekly timeframe and has retraced. We have completed 5 waves on the daily (creating a wave 1 of Wave 3) We have retraced the wave 1 of 3 (wave 2 of wave 3 complete) What is about to come is a Wave 3 of Wave 3 , then 4 of 3, then 5 of 3. The 4 hour chart is showing a bullish reversal candle If the 4hr candle closes at (1pm EST) 2...

james_007 Updated 

We've broken above resistences (creating 5 waves up) and have now retraced, we are testing a strong demand zone the potential is great the blue lines are the 2 targets. (ABC of previous move) Elliot wave suggests a nice wave 3 is about to start! Wait for a 1hr reversal candle to join. Enjoy

james_007 Updated 

Looking for a Long on NZDUSD (possibly the 5th wave) Reasoning for the trade: 1. Break of daily trendline followed by corrective price action 2. Test of horizontal resistence that may act as support 3. Test of area that should have latent orders that require filling 4. RSI oversold, testing 40 on Daily 5. A recovery in Crude prices will help NZD recover aswell...

james_007 Updated 

Reasons for entry long: 1. We have experienced a significant Retracement to a 78.6-88.6 fib level. 2. I have identified a good level of latent orders which has started to create a bounce. 3. 50% bounce of most recent drop is feasible. Money management rules: A. Risk no more that 1% of account on the trade B. all off at target

james_007 Updated 

Reasons for entry long: 1. We have experienced a significant Retracement to a fib level. 2. I have identified a good level of latent orders which has started to create a bounce. 3. 50% bounce of most recent drop is feasible. Money management rules: A. Risk no more that 1% of account on the trade B. 1/2 off at 2:1 C. 1/2 off at target

james_007 Updated 

Reasons for entry long: 1. We may experience a retracement on the EURUSD during German Prelim GDP or USD CPI reports. 2. I have identified a good level of latent orders which should provide considerable price action once hit. 3. Considerable room to go up to target. Money management rules: A. Risk no more that 1% of account on the trade B. 1/2 off at 2:1...

james_007 Updated 

Reasons for entry long: 1. We have experienced a significant Retracement to a Fib level. 2. I have identified a good level of latent orders which has started to create a bounce. 3. Considerable room to go up to target. Money management rules: A. Risk no more that 1% of account on the trade B. 1/2 off at 2:1 (normally I would take 1/2 at 1:1 but this has...

james_007 Updated 

Reasons for entry long: 1. We have seen a impulse, and a retracement on the EURUSD and this a great opportunity to grab it a lower prices. 2. I have identified 2 levels of latent orders which should provide considerable price action once hit. Money management rules: A. Risk no more that 1% of ACC on the trade B. 1/2 off at 2:1 (normally I would take 1/2 at 1:1...

james_007 Updated 

Analysis: I've seen USDCHF show 5 waves down to create an 'A' wave, and then retrace towards the origin of the impulse (B wave) it has hit the reversal zone at current price. Hypothesis: I am looking for latent short orders to kick in at current levels and a bit above. Price should stall at this reversal area I have identified between the 2 red...

james_007 Updated 

Analysis: I've seen DXY correctively retrace towards a diagonal resistance (trendline). & It is currently entering into a 2 day reversal zone. Hypothesis: I am looking for latent sell orders to kick in at these levels, and a final wave down will ensue. Price should trade down to a Weekly reversal area, where I have indicated by the blue arrow Risk...

james_007 Updated 

Analysis: I've seen EURAUD trade out of its downward channel. It has created a wave 1, 2, & 3 Hypothesis: I am looking for a wave 4 pullback to the purple box, where I have indicated by the blue arrow. Price should bounce from this area and create its wave 5. This wave 5 will be the final wave 5 of the LARGER Wave 5. (So can be either weak, or extended) If...

james_007

Analysis: I've seen XPTUSD show a Impulsive move, and then correctively retrace towards the origin of the impulse. it has a little further to go hit the reversal zone indicated at the dashed orange lines. Hypothesis: I am looking for latent buy orders to kick in at the levels identified. Price should trade up to resistance where I have indicated by the...

james_007

Analysis: I've seen SP500 create a short term top at the completion of wave 3 of Wave 5. It is in the process of creating a wave 4 of Wave 5. Currently it looks like a triangle/bullflag but can become a wedge as well. Hypothesis: I am looking for a wave 4 pullback to the orange dotted line, where I have indicated by the blue arrow. (fib confluence area)...

james_007 Updated 

Analysis: I've seen USDWTI trade out of its downward channel (reversing from a significant 2hr level) It has currently created/in the process of creating, its wave 1 Hypothesis: I am looking for a wave 2 pullback to the purple reversal zone where I have indicated by the blue arrow. Price should bounce from this area and create its wave 3. A bounce at...

james_007

Analysis: I've seen EURCHF in the process of completing its 3rd wave of wave 5 Hypothesis: I am looking for a wave 4 pullback to the purple reversal zone where I have indicated by the blue arrows. The wave 4 pullback should show itself as a corrective fall (abc pattern or abcde pattern into our buy zone) If it is too sharp of a fall, then I will not...

james_007

Analysis: I've seen EURJPY bounce off a significant reversal area on the daily . It has created/in the process of creating a wave 1 of Wave 5 Hypothesis: I am looking for a wave 2 pullback to the orange dotted line, where I have indicated by the blue arrow. (fib confluence area) Price should bounce from this area and create its wave 3 of wave 5. I plan...

james_007 Updated 

EURAUD seems to have broken out of a downward channel and has moved higher to complete a wave 1, 2 & 3 I'm currently looking for short term wave 4 to pull back price to the confluence zone marked in purple. Price should follow the blue arrows. Once 1:1 is hit... sell half, move position to break even, and let the rest ride to target. After a wave 5 is completed...