I see that GBPUSD has been in quite a strong uptrend for some time now and has began correcting. I have labelled the correction as a zig-zag followed by a flat. It does have the potential to become a more complex correction, however, it is looking upside regardless if it continues correcting or resumes the uptrend. I have drawn out how I see the flat to have...
Big fialed flat has been ended. If the trendline in RSI croses, price fall down with selloff.
Common Fib relationship says wave (c) could be 1.618 times the length of wave (a) sometimes ends beyond the end of wave (a) by 0.618 times the length of wave (a)
Could be a big 3-3-5 Flat where wave (C) can be either impulse or diagonal also note previous wave (4) ended near 38.2% retracement level
if wave (c) equals 1.618 times the length of wave (a), it could reach 133.936 note The internal wave iii of (c) seems weaker than wave i of (c) Wave i high of 131.816 is the key support, break below this level could signal further downside potential
expecting another decline to follow once the corrective pattern is done
After death cross, BTC looks no good. New target is about 2500$.
latest, we can see the failed flat pattern, if we cross the RSI trend downward, selloff will occur.
BTC is entering wave 4 of H4. It can go down to 161.8% of Fibonacci. Wait for our update after wave 4 end. If you find our post useful, please give us a BIG LIKE Your support will be a great motivation for us to update chart every day! If you have any opinion about this chart, don’t hesitate to comment below! The discussion will make us better! Thank you, guys!
Good day to all. General analysis: Since January 2018, we have seen the movement of EURUSD within the price range: 1.21668 - 1.25382. Globally we recommend to refrain from trading the instrument in lateral movement. For day trading Our trading robot went into a long position, the nearest resistance is 1.23574, it is more conservative to wait until EMA 20...
GBPCHF could be forming a flat corrective pattern. It has made the (3-3)-5 structure so far and has made the first wave of the 5 wave structure. If the 5 waves are made it would confirm the flat. The fist wave has been coupled with a correction which I expect to terminate at the 61.8% retracement. Following a break of this short term trendline it would confirm...
In medium-term trading, we do not see a impulse trend, as I said before. The price channel is directed very poorly. Only after 4 waves, we will most likely change the angle of incidence. Consolidation. I still don't like medium-term trading. On the other hand, we have a lot of opportunities for short-term trading in the future. We can both long and short. I do...
USDCAD appears to be in the ABC cycle down. Wave C seems to be the current wave. The fist impulsive sub wave of the 5 (C) wave pattern has completed. Sub wave two has created a running flat (please correct me if I am wrong). From here I expect USDCAD to fall and go on to either create the 3rd sub wave (impulsive), or continue to create a more complex...
Could be a 3-3-5 flat and trade for the rest of wave (c) of flat then sell for a larger degree decline
Either (a)-(b)-(c) for triangle wave {c} or 5 waves decline for flat wave {c}