A 3rd impulse wave is forming on XAUUSD with possible extension in length.
A B-wave is possibly morphing into an expanding triangle to be then followed by an upward correction meaning the start of the C-wave which would potentially conclude the corrective phase of the previous downtrend started around mid-july 2020.
A possible motive (impulse) wave is forming on GBPCAD with current ascending triangle pattern hinting for a possible advance towards next supply zone. Good opportunity for optimal RR ratio trades. I'm looking forward to catch the 3rd wave.
I'm long on OANDA:XAUUSD with tight stop loss as previous daily candles are showing a notable bullish sentiment. Next resistance line @1814 where I will move my stop to breakeven. Major target is @1860.
Two bullish patterns formed on BNBUSD which might push price to newer highs.
A possible rising wedge is under development on IOTAUSDT. Usually this shows signs of weakness and could be an early signal of trend reversal. If price manages to break through February's 1.500 zone the wedge could start to complete thus letting price fall to 1.250 as first support level. A divergence on the Elliott Wave Oscillator is also a sign of exhaustion....
The cross pair is showing bullish weakness and chances are price action will dictate bullish sentiment based on a touch of upper trendline. Rsi and PA are diverging thus strengthening the bearish sentiment. Trade settings are shown on the chart. Stops will be trailed according to PA.
A rising wedge is completing its formation with a regular bearish divergence hinting for price to push lower in the upcoming days. This confluence could mean current bullish force is having hard time pushing through the first resistance level.
Price seems like having overcome a completed bull flag pattern and heading towards testing resistance line around 126.60.
A potentially bullish formation could push price higher on poundyen. If the pattern proves to be successful, price can test 142.10 resistance line.
A bearish divergence is forming on Cotton futures meaning that price could probably correct until it touches lower trendline without the exclusion of a longer move to the south.
As mentioned in my previous idea (see attached link below) CADJPY looks is on the way to reach an important resistance trendline. A bullish flag is about to form meaning price is possibly having a break before continuing north.
A bullish divergence is emerging on USDZAR as price finally touched major support trendline.
A short-term falling wedge appears to be under development on USDMXN which means price could correct upwards. What seems to strengthen this idea is the divergence forming on the Elliott Oscillator.
A potential short-term trade possibility is shown on CADJPY where Elliott wave oscillator is hinting for a shift in momentum towards the bullish side.
A convergence of 100 and 200 period SMA may give a good opportunity to hit a potentially bullish trade with good R/R ratio.
This forming ascending triangle on AUDCHF offers a good trade opportunity with a favorable R/R ratio.
A similar breakout pattern formed back in 2018 and by this month a same but shorter divergence is about to form with a probability of price - though with a much lower volatility - to break through the upper trend line.