Two face Of Eurusd - forex trading brokers reviews

Two face Of Eurusd ~ forex trading brokers reviews

I have for some time now keeping a bullish bias on this pair. After the very long term bearish correction, thinking the market will return from there is not a bad idea; after all markets,we are taught, rise and fall in time and price.

I have done some long term analysis which speculated a bullish resurgence. You can scroll down the blog to read them.

Price did rise from the zone I speculated and I really made a good run of profits, on two different occasions. 

The bullish move is expected to be an impulsive move. 

Any sign of corrective pattern could signal that price could still dip further to complete the last leg of the bearish run.

Viewing the intra day chart, I have two positions to satisfy the two scenarios mentioned above. 

 

The intraday movement of price around the intraday zone(in red) could make all the difference in determining where the breakout will occur.

The either movement will confirm any of the wave count that birthed it.

Let price decide and we can follow.

 

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EURUSD Market Pivot Point On April 30 (updated) - mb trading forex reviews

EURUSD Market Pivot Point On April 30 (updated) ~ mb trading forex reviews

EURUSD market Pivot Point results On April 30, 2015. This results was generated by using our HotForex tools. And this tool has been generated from the Floor Pivot points , Woodie Pivot Points, Camarilla Pivot Points, Demarks Pivot Points.

For other Currency market pivot points, please to use our tool here : Forex Pivot Point Tool Gerenator. I Hope it will be useful for you. Thanks for visiting my blog. Good luck in your trading Forex. Regard, Tom Berlino.

Auto generate pivot point tool for currency market of EURUSD.

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Price behaviour using EWT A case study on Yen - top 5 forex trading signals

Price behaviour using EWT A case study on Yen ~ top 5 forex trading signals

I have still not yet found any chart theory or technical methodology that can can be used as a market predictive tool like the elliot wave theory. 

Elliot waves theorys ability to distinguish distinctly between a trend and correction is itself a tool which, if well used, builds confidence in a trader.

On 3rd June, I posted an analysis on Yen titled What the charts are saying about Yen. 

Using elliot wave theory, I was able to predict in advance a turning point for major Yen pairs. Check how price respond to the forecast and their position afterward.

As an elliot wave theory trader, it is important to understand that nothing is concrete until price validates it. Elliot waves theory discusses how price behaves when trending and correcting. These are also known as Patterns.

Patterns help us to understand and predict what next price could do. When these patterns are put into larger structure, there is in a traders hands, very powerful tools.

After more price actions, I posted an update on the analysis above which I titled Yen is expected to strengthen across board . In this analysis, I singled out UsdJpy and CadJpy which I shorted. UsdJpy was shorted at 124.05 while CadJpy at 99.7. The two pairs dipped especially CadJpy.

CadJpy hit my final target while UsdJpy didnt. I watched 25% of the my UsdJpy opened position hit at break even. CadJpy ran to my target in an explosive manner.

One lesson I want us to learn from this post is how to read price behaviour using elliot wave theory. The chart below shows how UsdJpy dipped and the rally that followed.

 

 

There are two things that support that the bearish move from 125.85 was a mere correction.

1. The dip from 125.85 was a deep (double) zigzag corrective pattern. The leg W was a zigzag, X was a flat and Y was a zigzag.

2. Price advanced from Y in a typical 5-wave impulsive move. This signaled a possible first wave of the bullish resurgence.

Price is expected to dip to probably around 122, and if bounce from there should continue moving up.

I will wait and see what price is saying as I try to unlock an inherent tradable pattern.

You can also watch and what better tool to use if not elliot wave analysis?

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Eurusd Is Still Bearish - forex trading signals india

Eurusd Is Still Bearish ~ forex trading signals india

Elliott wave theory, consistently, has shown how other technical methodologies are engulfed in it. Almost all the time, Elliott wave theory knows the immediate and long term direction of any market before other technical systems get the half picture.

The bearishness of Eurusd is expected to continue. Price could dip below the 1.0000 level.
There is a bearish harmonic bat pattern to be completed at 0.9830-50.


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3 Ways to Identify Support and Resistance 5 Chart Examples - forex trading customer reviews

3 Ways to Identify Support and Resistance 5 Chart Examples ~ forex trading customer reviews

3 Ways to Identify Support and Resistance - 5 Chart Examples

By Elliott Wave International

Todays lesson considers three ways to identify price support and resistance in the markets you trade.

1. Previous highs and lows
2. Trendline support
3. Fibonacci Ratios

These examples are adapted from Jeffrey Kennedys Traders Classroom service.

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1) Uptrends terminate at resistance while downtrends terminate at support. Previous highs and lows often act as resistance and support.

In ALCOA Inc (AA), the September 2012 selloff found support near the previous July 2012 low.

The February 2013 peak occurred following a test of resistance at the January peak at $9.33.

2) Trendlines offer resistance and support for prices.

The 2008 advance in Gold found support numerous times near the trendline that connected the lows of the move, as you can see below:

Conversely, the trendline connecting the highs of Wheats 2012-2013 decline provided resistance for countertrend price action.

3) Fibonacci ratios also identify resistance and support. As Elliotticians, we often look at retracements, the most common being .382, .500 and .618. In Akamai Tech, Fibonacci support ignited the July and November 2012 rallies:

In the same chart you can also notice how Fibonacci resistance in AKAM halted the July 2012 and February advances.

For more free trading lessons on trendlines, download Jeffrey Kennedys free 14-page eBook, Trading the Line -- 5 Ways You Can Use Trendlines to Improve Your Trading Decisions. It explains the power of simple trendlines, how to draw them, and how to determine when the trend has actually changed. Download your free eBook.

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Anyway! Cable Is Bearish - successful forex trading signals

Anyway! Cable Is Bearish ~ successful forex trading signals

Elliot wave theory is the most complete technical tool to understand the position of price in the framework of the market.. It clearly tells us the degree of any trend and correction within a market structure; when they start and end and what to expect afterward.

 

The long term analysis of the Cable for more than 20 years can be analyzed by the two charts below.

 

 

 

 

 The rally from 1.363 to 2.122 was a clear zigzag corrective pattern ( a possible wave 2, 4 or B) which is expected to be followed by a 5-wave sell off. The sell of started from 2.122 and has probably completed first two waves, the 1st wave was completed at 1.42100 in a truncated 5th wave followed by a zigzag correction which ended at 1.7230. Price went down in a big momentum to 1.4551.

 

The dip from 1.72 is expected to be a 5-wave move in a smaller degree. The rally from 1.4551 is corrective and price is expected to sell on a large trend. 

The second wave analysis below also supports the long term bearish movement.

 

 

 

The price pattern that ended at 2.1180 was an ending diagonal. An ending diagonal characteristically ends a 5-wave impulsive move. This move is expected to be followed by a 3-wave correction. 

The resulting correction is not clear but if the count above holds, we will probably see a zigzag correction. A zigzag correction is a (5,3,5) wave . The first 5-wave ended at 1.4160 followed by a 3-wave correction which ends at 1.72. A 5-wave move is expected to break 1.45 below.

That is how we use elliot wave theory to forecast price movement. 

Has the present rally from 1.452 ended to pave way for the sell off?. We answer this question by analyzing price actions in the hourly charts. The hourly chart below show the position of price in the short term.

A double zigzag is probable which, provided price breaks the intraday 1.5695 resistance, could end at 1.65 before the bearish move. A break below the red trendline could mean that price is already for the bearish move especially if the momentum is high.

This is a forecast to determine price direction and zones. We should look for tradable patterns along the direction of forecast. If price moves contrary to the forecast, we can reanalyse and wait patiently for the right time to pull the trigger. Its about spotting high probability trades.

A winning trader does not follow price everywhere. He simply allows the market to connect to him before he connects to it.

 

JOIN AN ELLIOT WAVE MENTORSHIP CLASS and be an elite trader

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Intra day Triangle in Eurusd - forex trading reviews uk

Intra day Triangle in Eurusd ~ forex trading reviews uk

On 31st may, there was an analysis here titled Two Face Of Eurusd and I wrote about the two possible near term scenario.

 

I though, maintained a bullish bias but with a condition. The bullish set up was satisfied and price rallied, just as expected. I posted an update before that. Read HERE. 

 

To end that post, I wrote 

 

"Its expected to be  impulsive, but a deep correction could emerge in double or triple zigzag correction which would force us to note that there could still be some move downside despite the general belief that Eurusd has bottomed on the long term"

 

With the pattern forming now, as shown in the diagram below, the recent bullish move is counting toward a double zig zag correction.

There has been some economic news  surrounding this pair of late. many investors are on the sideline and price went into a congestion ( a triangle correction).

 

 

Price broke out of the triangle with a minimal momentum and further momentum is expected for Eurusd to rally to 1.175... psychological level where the correction could finally end for the resumption of  the long term bearsih movement.

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Eurusd Nearing The Bearish End - forex-day-trading.com review

Eurusd Nearing The Bearish End ~ forex-day-trading.com review

On 21st November, I saw a need for more bearish move of the Eurusd. The basis of this analysis is the continuation of the terminating fifth wave of the last swing-leg of the bearish corrective triangle which started in 2008. 

According to my various projection tools, I saw a possibility for 1.2150 and 1.8850 support zones . I went out of my trades with 180 pips at 1.2280

There is a strong possibility for further bearish push before the long awaited rally could start.
Presently on the 4 hour chart, price seems to complete the 4th wave of an ending diagonal to terminate the 5th wave on a grand style. 

With bullish divergence on the daily chart, I can only think of a bullish move. If the 5th wave of the diagonal dips further with a three-wave intra day drive, there could be an opportunity to take a nice trade with a very good risk reward ratio.

I will post updates as market unfolds.

At the moment let me enjoy the bullish move on Gold after cashing out good profits on Eurusd and Usdcad

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JP Morgan as Caught on Elliot Wave - forex trading canada reviews

JP Morgan as Caught on Elliot Wave ~ forex trading canada reviews

Prices are tending high in a non-overlapping impulsive trend. The recent rally which I labeled as the third wave of the impulsive move is ending in an expanding diagonal formation.

 

 In expanding diagonal, wave 5 is greater than wave 3 which is greater that wave 1; wave 4 is greater than wave 2 and the connecting trendlines, upper and lower, show that prices should continue the rally to $70 where a minor dip to $65 region  is very likely before a further rally to probably $72.

 

 

 

 

 

 

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