USDollar Index is forming an Ending Diagonal and reached 1.618 Fib Extension from Wave 1 of Wave V. The next move could be a bit of correction towards 98.50 levels and then we could see one more up wave for Wave 5 of Wave V from where we might see a bigger correction. If this count is correct then other pairs would also bottom out when the Dollar Index Tops out...
Gold (Weekly) @11 Nov 2015 On the mid-term outlook, Gold is at the final phase of its major downturn from all time high of 1,900 (year2011). Price is forming an Ending Diagonal - typical wave5 pattern following significant downmove or extended wave3. A closer examine of the ending diagonal structure shows that a potential Final Down-Leg (lower degree wave_v) is...
EURGBP has produced a bullish cypher pattern in addition to a number of other bullish signals. The PRZ of the cypher lies at a major support trendline (see chart below). A bullish Wolfe wave setup has been completed in the same area. Bullish RSI divergence is present and is also oversold at the PRZ. To add to the bullish bias, an unhit cluster of pivots sits...
Bat pattern. ending diagonal pattern (in the C wave) divergence. there are resons a trader can short the pair now. waiting for break of 2-4 trend line (red one) is a conservative approach. but dont forget, there is a possibility for more upward moves for completing C wave of ABC. so if you enter right now, your stop must be upper that levels of completion of C...
GBPCHF has been forming an Ending Diagonal Diagonal Pattern which is about to break down. One can go short on the pair at current levels and targets as shown on the chart. Good Risk Reward Trade.. Happy Trading!!
EURCHF has completed a possible ending diagonal and has made a reversal in a confluent PRZ. Wolfe Wave theory defines the sweet zone, or the area of a probable reversal, as the area between 1-3 and the 2-4 parallel extension from point 3. Similarly, EW theory suggests that wave 5 will often overshoot in an ending diagonal which may be followed by a swift and...
I'm long this pair and wanted to share the potential for shorting in the very near future! Looking for bearish activity in the red zone! 150-300 pips to the downside if we hit both targets...Good luck! KEEP THE RADARS UP!!!
See previous chart (link below) for details of overall view. Previous short was stopped out but it seems the overall counts still looks correct to me, hence another attempt to join the potential short. Here are 2 possibilities, either we get a retrace of the decline or breakdown without much retrace. 1. Entry short: 1.1450 Zone (on partial retrace, but then...
Whilst waiting for the planned long entry published in my chart about month ago (link below), there appears to be possibly another short trade developing. Last one worked out fairly well (link below). Here is the summary: After spike a high of 18th September, the price declined in what appears to be an impulsive move of 5 minor waves. If correct, this could be...
Flat (regular, expanded, running) A Flat is a three-wave pattern labeled A-B-C that generally moves sideways. It is corrective, counter-trend and is a very common Elliott pattern. Expanded flat • structure is 3-3-5 • wave B moves beyond the start of wave A • wave C ends more substantially beyond the ending level of wave A • appears in wave two or four in...
AUDUSD has been on a long term correction and potentially ending the correction completing A-B-C on higher time frame. As per short term trading time frame the pair has broken out of ending wedge and could potentially go higher from here. There are two trades ideas that can be taken at this moment. Happy Trading!!
GBPUSD is forming ending diagonal which is near completion. One can buy the pair now or when it breaks out for the target of 1.5425 and stop just below the lows. Ofcourse there is divergence as well while the ending diagonal is being formed on all trading time frames. Happy Trading!!
correction trade -- wave 5 looks to be unfolding into an ending diagonal. -- trade is valid only if price keeps behaving within the EW ending diagonal principles -- wait for 2 sets of abc completing 4 and 5 moves before considering a trade. -- targets Fib retracement -- remember to take profit, a shallow retracement is possible -- see daily chart attached
Sterling is carving out a sequence of overlapping 3 wave moves which is giving the appearance of a triangle. If that is the case, we are working on the 'D' leg of the triangle. The key element that is tipping me off to a trading opportunity is the 5 wave move higher from July 8-July 15. This is a leading wave and takes the shape of 5 waves. Therefore, there is...
There are several interpretation on longer term prospect for AUDUSD as some analyst of major banks ( technical-analysis.forexlive.com ), attempt to label the chart and I assume they know what they are talking about. However, I am not sure about the move from 2008 low to 2001 high labelled as 5 wave impulse and likewise suggesting that we are now in 5 wave decline...
EURAUD remains bearish with three wave decline since start of the year, that could prove as a temporary reversal. We are tracking a zig-zag with current ending diagonal taking place in wave c, that can still make a new low near 1.3500. www.ew-forecast.com
We recently broke the Support in USDCAD in the Daily timeframe and started falling sharply down. I tried to assign the Wave Counts for this down movement up until now. We're currently facing a bearish contracting movement with overlaps in a bearish background which is called an Ending Diagonal . Some call it a Wolfe Wave and as Mr.Wolfe suggests the upside...
In my last published chart some 2 months ago following the spike low around 151, I made provisional adjusted to the wave counts to reflect the price action still suggesting that the bearish cycle is still in action and has further to go. The reason for this was that bounce from 150 - 300 in not in clear 5 waves, rather it is in 3 swing zigzag. Hence, in making...