larry47

larry47 Updated 

Looking at weekly, USDCAD's choppy rising channel since Sep 2017 is showing signs of losing steam. The reversal should happen below 1.38 level (previous significant high), otherwise the pattern is invalidated. This is a trade with great risk & reward profile.

larry47

XAUCAD has been moving inside an upward channel since Jun 2013. If you measure in CAD, gold has been in a slow bull market for the past 4 years. Remember in early July 2017, XAUCAD hits channel support and immediately bounced back up. The long term structure still holds. This is almost the same situation as 1 year ago, which was described in my linked trade...

larry47

Hello Traders, BTCUSD started dropping when it hit 20000 in Dec 2017. This is a major Wave 4 correction unfolding in ABC structure. Today BTCUSD continues Wave C of 4, The invalidation level is at 7888 which is tip of Wave 1. Also likely to hit 200-day Moving Average before reversing, near 8000 level

larry47

Hello Dear Crypto Traders, What are your thoughts on bitcoin as it just made a new high at $15000 USD? Well, as the Book says, there is no new thing under the sun. One can simply look back a few years and spot a similar development in the bitcoin price chart. The channel highlights the "healthy" price range, while the upswing above the channel shows a "mania"...

larry47

The graph is clearly bullish. Monero serves a similar function as bitcoin, as a store of value. The long term trend is simply up. Through 2017, the price ratio XMRBTC fluctuates between 0.01 and 0.035. The recent bounce took XMRBTC from 0.011 to 0.015, signaling the end of the decline. The fact that XMRBTC did not break previous low is very bullish, plus Elliot...

larry47

Hello Traders, In the early half of 2017, a bullish 5 Wave took ETH to all-time high of 587 CAD on 2017-06-12. Since then, ETHCAD is trapped inside a triangle consolidation. This type of consolidation is usually a continuation pattern, so we may get a new high in 3~6 month. As the triangle narrows, the next bottom for ETH would be near 320~290 CAD. It will be...

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From the chart, you can clearly see that AUDUSD has completed Wave (4) to the upside, and started its Wave (5) down. It is advisable to enter into a short trade near 0.7825, with a stop loss at 0.82, and a stop win at 0.65. It may go lower, but 3.5 : 1 ratio is good enough. I consider this one of my high confidence trades. You can refer to my other post from...

larry47

Traders and investors have to watch 320 and 342 levels carefully, as major turning point may come at these levels. If not, then ETH is going straight up to 400 USD. I am giving a 3:5:2 possibility ratio to below three senarios: 1) ETH turns down below 320 2) ETH turns down below 342 3) ETH goes straight up to 400 Please refer to my other posts about BTCUSD

larry47

Hello traders, bitcoin had a rollercoaster ride since early Sep. First 5000 on 9/1, then below 3000 on 9/15. I successfully predicted 3000 in my last post, see related idea below. Today I'd like to bring to your attention the movement in the past week. Bitcoin went from 2972 to 4119, then came down to 3514, then back up to 3750. My point here is, if you...

larry47 Updated 

BTCUSD started dropping yesterday. Using Elliot Wave + Channel, the price target is $3010. I am bullish on BTCUSD long term. This drop could be a great opportunity to get onboard crypto, if you are not in already. HAPPY TRADING !!!

larry47 Updated 

First target 9.50. Later may break the triangle pattern, biased towards upside.

larry47 Updated 

Based on that soybean has bottomed near 8.5 during end of 2015, the subsequent rise to 12 is an impulse wave, followed by an ABC correction to 9. Since Jun 2017, we have another impulse to 10.4, followed by a correction to 9.15. Recommend: Long with a tight stop loss

larry47 Updated 

GBPUSD decisively turns back down after hitting Fibo target 1.618, completing ABC correction. See self-explanatory graph. This is quite early in the Bearish trend development, so you get a great price if you sell now. Put a stop loss above 1.32

larry47 Updated 

4th Wave clearly forms a contracting triangle, currently bound by a narrow range 1.22 ~ 1.26. Waiting for a break of triangle structure through the ceiling

larry47 Updated 

XAUCAD has been moving inside an upward channel since Jun 2013. If you measure in CAD, gold has been in a slow bull market for the past 4 years. Prior to this time, the channel support was hit 4 times, in Dec 2013, Dec 2014, Dec 2015, and Dec 2016. (Coincidence?) Now 2 weeks ago in early July 2017, XAUCAD hits channel support again, and immediately bounced back...

larry47 Updated 

TSX Index decisively broke the 13-month support today (visible in weekly chart) amid the US political turmoil. In a longer term, a contracting triangle pattern still holds. The all time high 15943 on 2017-02-20 is behind us. The market could be heading to 13000 at the long-term support level.

larry47

CADJPY is going up in abc formation. When this pair moves, it moves fast. Past 10 months' pattern looks very similar to Dec 2014 ~ July 2015, only inverted. So if history repeats itself, our best strategy is to wait for a dip near 85, then open a long trade targeting 94. Great risk/reward ratio = 5. Happy trading!

larry47

Elliot Wave Analysis on USDJPY gives bullish forcast. We are in the C Leg of Wave Y going up. Min target: 115 Max target: 118