ABC
Finished 5 waves to downside. ABC Correction should follow.I've been following Elliott wave on USDJPY for the past week now and have had consistent, profitable trades. It appears that Weve just finished 5 waves to the downside and now were moving into an ABC correction to the upside. Wave 5 may have more bearish room to go but we should see a correction to the upside soon.
NZDUSD Perfect ABC pattern correction.Didn't short this because The daily momentum was too strong. But if the daily candle closes as low as now, arround 0.72. I will be looking to short on Monday 27th of Feb.
USD has been gaining a lot of strenght and NZD will be getting really week soon.
TRADE SAFE AND HAVE A GOOD WEEKEND.
AUDJPY short after H&S pattern and XABC patter on 4HAfter head and shoulders on 4H chart price tested the 50% mark and pull-back nicely on 4h and Daily chart. I see opportunity for short position with 2.0 risk reward ration. Pair should reach the 1.50% where third wave should be equal to the first wave.
EURUSD: May the bulls be ever in your favorHi traders,
On the EURUSD we had a nice impulsive move on starting on Wednesday, where we finally broke the downwards spiral. It looks like we have created a nice ABC pattern. We are very close to hitting the 161.8% Fibonacci extension of that move, which often causes a reversal. This area lines up with the 50% Fibonacci extension of the upwards move.
Target is still at the 1.07000.
Good luck traders!
EURUSD SR MONEY MGMT GRIDHere's a grid I've used to make substantial earnings from the EURUSD!!! The price line info is indicated to your right making this info transferable.
If it's of interest, make your own GRID!
You can be much more successful in trading when you KNOW WHEN TO HOLD and KNOW WHEN TO FOLD...In short, where to expect reversals in the market!
Good Luck!
KEEP THE RADARS UP!!!
AUDJPY BEAR CYPHER/BAT???Hate to be contradictory but After further analysis WE MAY NOT BE QUITE THERE YET!!!
More often than not I see the BAT completion...Still looking for a potential SELL before Non Farm Payroll news
Still 350+ Pips SELL if the Cypher holds
600+ Pips SELL from BAT (D) PRZ
Good Luck!
KEEP THE RADARS UP!!!
ASX ABC LongFeb 12: 11.00 AEDT
This stock starts throwing up long pins in consolidation mode.
In trend, it tends to have longer bars w/ short pins.
My previous discussion (12 Jan) suggested a rally out of
(expected) support at $5.29. This failed, and it pulled back
to secondary support around $5.15 and $5.10
It is well supported on weekly as shown and has
a higher high/ lower low since Dec.
This is classic Dow Theory, but volume is modest.
I expect this stock to start pushing up now.
A close above $5.23 for two days will confirm an upside
breakout and I am not expecting a close below $5.13
ABC reports late Feb so price action will be focused on forecast vs reported.
I can't show it on this chart, but BB's are squeezing since Feb 9.
I intend to nibble now on lower timeframe weakness and add on breakout
with an initial tgt at $5.45+ and SL $5.14
At current price $5.19 that's a RR of approx. 5:1 before costs.
There is short interest of 5m with avg Daily Volume of 2m.
This is an opinion not a guarantee and
... just my 2c worth ...