After SNB's intervention in 2011 and again in 2015 I felt that I would never again trade and CHF pairs. However, It is now giving the most clearest long term wave counts of any USD pairs which also confirms my view of USD bearish cycle I have held since late 2013, see other charts link below. Whilst I have been little early and premature in thinking the top in...
As shown in the chart,Ending Diagonal of wave (C) is running.end point is a PRZ (Extension of impulse & Retracement of wave (A)) and up trendline,
Wednesday afternoon, the Fed shares with us their view on monetary policy in the US. In advance of the news events, we like to take a step back and assess the patterns on the chart to identify some key levels to watch out for. This allows us to detach as best as possible when the news is released. Going into the news Wednesday afternoon, we're following this...
in the mounth chart, we are in an Ending Diagonal. last post chart:
CRUDE OIL seems to developing 5th wave as ending diagonal. Expecting to see price move first to 35-36 area, where it will go down to 20
USDJPY has completed a possible ending diagonal at the PRZ of a bearish crab pattern. Ending diagonal target is confluent with the unhit daily pivot. Entry is placed at 1.618XA with SL above 1.786XA and target at Wolfe Wave target line and beginning of ending diagonal. Target also confluent with unhit daily pivot for 1/22/16.
BCEI may have completed an ending diagonal at the end of wave C of a zig-zag correction. This could send the pair on a rally toward its price target at around $9. In addition to the wave count, the current level is confluent between .618A=C, 1.786i=v, and iii=v which are all important levels to watch for support and resistance, especially toward the end of the...
On the daily TF, we are in the midst of the fifth and final wave of an expanding ending diagonal, counted as C of an ABC zig-zag correction. The monster buying opportunity will be at the completion of this C wave, however, we may be presented with a short term long opportunity with a R/R of 8.5. The current count is wave-b-of-(c) in a potential flat correction...
break of ending diagonal pattern is a good opportunity for entering long.
GU is going nowhere. It seems that daily correction was broken to the downside. But if its really the case, we shouldn't have an ending diagonal like structure. None the less, I will wait it out on this one. But awaiting some sort of consolidation to trade the breakout to either side. Most favorably to the upside.
Last week, we shared an Elliott Wave count which was medium term bullish based on a diagonal pattern that may be ending soon. Today, I would like to add a little twist and another variation of the count. The resolution is similar to the post from last week except prices may dig a little deeper. Under the count above, 1.4639 is the key level that keeps (iii)...
A complete five wave rising wedge pattern. Price broke the lower rend which is a clear indication of downward movement.
Corrective ABC structure seems to be complete. Which in my counting is the IV higher degree corrective wave of a large down trend. Only problem is the final C wave is below the initial A wave of the overall completion. Any thoughts ?
Wave 3 and 5 give us bullish divergence, also ending diagonal pattern. I think it will be go up! Limit buy 0.71235 SL 0.70725 (Support Level) TP 0.74500 (Fib arround 50-61.8%) What do you think guys about my setup? *Sorry forgot to label wave 3 and 5. The important thing is the market give us divergence!
Taking a step back, this move from the summer 2015 highs is either a 'B' wave or a diagonal of some sort. This could be a leading diagonal lower in a wave 3, but the higher probability count is an ending diagonal of a 'B' labeled in the chart above. The wave relationships play out to where the Dec low occurs near 1.618 at multiple levels. Based on the wave...
The USDCAD seems to be making an ending diagonal structure, if this proves correct then I am expecting a huge don move on the break of the structure. Will be keeping an eye on this one , Divergence in play. Trade with care. Follow me for lower time frame follow up on this and much more .