EURUSD is in a bull market we saw a correction from the recent weeks which was for a wave 4 impulse move. The impulse sequence is clear the waves 1 and 4 are not overlapped, wave 3 is not the shortest compared to wave 1 and possibly five which will soon form. We touched the middle channel line and we started seeing some weakness most likely we will see buys this...
Gold has been trading in a corrective phase from the previous week, in which a Zig-Zag correction pattern waves A and C are often equal which are both motive waves. The wave C is an Ending Diagonal Pattern we can expect price to start buying pretty strong or make a new high.
USDJPY o the daily timeframe is trading in an impulse move as wave 4 forms we notice we have a Triangle pattern forming. Soon we can expect wave 5 to be complete, the common way to look at wave 5 would be to measure the wave 1 distance but Fibonacci multiple can also be useful.
Fridays tends to be choppy and consolidative, I don't expect more than 100 pips move.
Price is trading in a double correction pattern. We are trading in a wave (Y) phase, the wave (Y) is a zig-zag correction pattern. Waves A and C are often equal on a zigzag pattern.
Price is trading in a bearish trend so for the most we are in an impulse move 1-2-3-4-5, wave 4 seems to be one of those unclear triangle patterns. The idea is we can expect a sell-off soon as a wave 5. The only way to invalidate the triangle pattern is by breaking the wave A high.
USDCAD is trading in a short term downtrend as a double correction W-X-Y. Wave Y will most likely form a zigzag correction pattern. We can use wave W's distance to measure wave Y target. The USDCAD is trading in a series of 1-2 1-2's so price is currently trading in a wave 2 phase.
BTCUSD has been trading in a bearish trend for the past at least 12 months with no sign of buying pressure, and from a technical perspective, it seems like we will continue selling off to complete wave 5 of an Elliott Wave Theory impulse move. Of course waves 1 and 5 are often equal so we can use that idea to help us predict the end of the fifth wave also by using...
GBPJPY has been trading bullish for a while now, we are currently on a fifth wave phase on a higher timeframe. Of course, we know that wave 5 is a motive wave meaning it can be an impulse move or a diagonal pattern. We have a 1-2 sequence wave 2 retracing about 61,8 fibonacci level.
Price has been trading bearish for a while now this is a potential corrective A-B-C Zig-Zag move. The wave (C) is a possible Ending Contracting Diagonal Pattern. The wave sure seems very short and may not be complete as of yet. We know from a Zig-Zag pattern that waves A and C are often equal so we do have to keep in mind that we could still possibly see a...
We have been trading bearish for a while now, I expect the bearish direction continues to complete the (Y) of the double correction pattern. We have already formed the (W)-(X) leg.
Weekly analysis video for AUDUSD, XAUUSD, USDCAD,EURUSD and GBPUSD.
Price has been trading in an impulse phase only now we are starting to trade bearish as a potential A-B-C Zig-Zag correction pattern. We are now at a wave (C) phase, we will see a potential strong sell-off from price. We know that wave (A) and (C) are often equal so we can use that idea to set target profits for a wave (C). The corrective phase for a wave (B)...
Previously we talked about Gold selling-off as we saw wave (C) form an Ending Diagonal Pattern which in this was a contracting diagonal. It seems like price continued to rise and that doesn't really invalidate the idea of an Ending Diagonal Pattern, but we have to see a short term buy before seeing the next drop on the XAUUSD chart. The pattern is still occurring...
We have been in a bullish trend a little while ago as an impulse pattern, then is now followed by a corrective pattern in the bearish direction. The correction move is a potential zigzag correction. On the correction aspect we already had wave A and now wave B is forming so most likely we will start seeing the price starts trading bearish soon after we see a minor...
Price is trading in a wave 4 phase; we are at interesting levels where we have the 38,2 and 50 Fibonacci levels. Soon price will move in the upside direction as wave 5. Wave 1 and 5 cannot overlap to validate this pattern. Price needs to make a new high.
USDCHF is trading in a downtrend; the price will continue to move in the bearish direction. We are in an impulse move phase 1-2-3-4-5 sequence. Waves 1 and 4 are not overlapped making it a good pattern also the wave 1 and 2 are not equal. The downtrend wont last long but worth looking into.
Price is currently moving in the downtrend direction, we were recently in a corrective state. We know that corrections are always followed by motive waves. We are in an impulse state we might see a possible small correction before the next sell-off. We might make new lows it might take a while or perhaps get a bigger 1-2 sequence.