Following a five wave impulsive move downwards. It looks like we are in the midst of ending wave 2/C correction. There are a couple of wave relationship that suggest that wave 2/C will terminate around 151.85 - 152.2. We are looking at a WXY complex correction. There should be a selloff pretty soon if the area near 152.2 holds.
Happen to chance across GBPJPY charts. Looking very bearish with a 5-3 downward count. We can count an implusive downward 5 move, and a corrective 3 move up. Prices seem to fit perfectly to fib levels and wave relationship, base on elliot wave theory. (I.e Wave 2 retracing to the end of wave 4) Bearish under 151.2. We are looking to extend the five wave...
After putting in a five wave move upwards, prices seem to be correcting as a flat (3-3-5). Looking for wave 2, to correct back to 105.7 levels as wave C of the flat. (We will look to establish longs near (105.4-105.7), for a resumption of the uptrend. Short : 106.95 Stop : 107.45 TP : 105.7
Looks like AUDUSD is in a bearish sequence of 5-3. Looks like wave (2) of 3, is terminating near 0.788-0.789 ( which is the 61.8% retracement level of wave (1) of 3 ). Base on fibo projection, if the area near 0.788-0.789 holds, we should expect wave (3) of 3, to start. Expected targets with 1.618% expansion would target levels near 0.7435.
Below picture is quite detailed on my counts. First we have a 5 wave impulsive move to the upside, forming a leading diagonal. This is followed by a complex WXY, forming a ZZ- Expanded flat - 5 wave counter trend (3-3-5) Wave 5 of 5 terminated near 1.305 as a truncated 5th wave. There we should expect the next move to be an impulsive 5 wave. From here we...
Looking for another move higher in EURGBP to somewhere near 0.9085-0.91 which is the 0.618 level. Thereafter the corrective move should terminate and we could see an impulsive move to the downside. Targeted levels are near 0.834
Looking for a dip on EURGBP to somewhere near 0.834 level before deciding on next course of action If this is a start of a downtrend (Wave 3), it should break below 0.834, as wave 3 is usually the strongest and largest. If this is a corrective ZZ, expect this correction to terminate near 0.834 as wave C. Length of Wave A = Wave C
Looks like the correction is shaping up to be an ABC flat correction. ABC flat correction is made up of an expanded flat (A), zig zack (B) and a five wave move down (C) 3-3-5. Looking for a push higher to 1.26 region for eurusd, before the entire larger 5 wave move completes.
The wave count appears incomplete after the impulsive drop from 2873 - 2541. ( 5 wave move ) It appears we are in a corrective wave B, expanded flat 3-3-5. We should be expecting another sharp move downwards, 5 wave, to complete a ZZ. 5-3-5 By extrapolating the length of the first move, we expect the next drop to be in equal breath and magnitude. Estimated...
Looks like EurUsd is carving out an expended flat pattern. 3-3-5 Current C wave, appears incomplete. Might have another move to the down side to retest 1.22 level, before moving up, for the 5th wave. Wave 2 - Triangle Wave 4 currently looks like a ZZ.
The whole structure of the bearish move seems incomplete. We could be starting the last leg of a bearish impulse that will target 100% retracement. Picture speaks a thousand words. By Elliot Wave of alternation, Wave 2 - Sharp, Wave 4 - sideways corrective moves. We could be at the final stages of a push lower, with an ending diagonal appearing in Wave Y, C...
This is a clear cut leading diagonal pattern. Above is a clearer wave count of the whole structure. Leading diagonal moves in 5-3-5-3-5 structure, unlike an ending diagonal, which is 3-3-3-3-3. Since wave C cannot be the shortest wave, we estimate the current high at 1.757 is the top of this whole structure. If prices move beyond this level, we would have to...
Leading Diagonal Moves in 5-3-5-3-5, differentiate by the impulsive moves in 1/3/5 wave, as compared to an ending diagonal (3-3-3-3-3) Price action in GBPAUD looks to be following of that. At this point is can only be a guess, as I'm counting it as a start of wave 1 of a bullish move upwards. After the leading diagonal, prices typically retrace swiftly to the...
The trend is your friend. Audusd 2017 trend-line support currently sits near 0.757-0.759. Long : 0.7585 Stop 0.755 TP : 0.81
Price Action in Nasdaq 100 is showing up an ending diagonal pattern (Wave 5 of 3) Typically ending diagonal moves in 3-3-3-3-3. Currently we are in the last smaller motive higher of the 3. It looks like a throw over pattern as price broke upwards of the diagonal. Currently pending short as we wait for the last C movement to exhaust. (Wait for a bearish candle).
Cadjpy is currently sitting at an inflection point, 88.6 level. Which is critical for both the bulls and bear. A bounce would validate a long term inverse H&S patterns being played out since 2015. A break below the neckline of 88.6 would probably trap bulls in the 88.6 - 91 region. (Fakeout) A long trade would yield an impressive R:R if the bullish case plays...
Price action in EurCad is giving a very clean cut price action of Elliot Wave Theory. Currently we are in corrective wave 4, which is unfolding as a 5 wave triangle. Trade Idea : Short EurCad 1.486 Stop Loss : 1.496 Take Profit 1.448 RR : 1:4 Will look to long again near 1.445-1.448 region. For Impulsive wave 5