Gold Update Emerging Intraday Ending Diagonal - forex trading ea reviews

Gold Update Emerging Intraday Ending Diagonal ~ forex trading ea reviews

As part of the bullish reversal in Gold, I discussed an end of wave 5 formation on 11th November and I followed it with a buy order which went well. 

I posted intraday price updates on 13^th November and 17^th November which all went well to support the bullish move.

The general trend is still down. The recent bullish move is a typical ABC correction format and in short time, price should crash downward.

Presently, the C leg of the ABC correction is forming an ending diagonal which should complete at resistance zone (1210- 1230), a 161.8% extension of A from B. 

If price gets to this region and breaks below the support zone of the diagonal, then we could see a real move downward in a 5-wave motive move to 1000. 

I will update you here as we get more action from price

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Intraday Update on Eurusd - forex trading education reviews

Intraday Update on Eurusd ~ forex trading education reviews

On 21^stNovember, I did an analysis on Eurusd, you can read here,when I discussed about an expected move of Eurusd down to the support zone ( 1.2150 and 1.8850) if the intraday zigzag channel is broken downward.

Price broke the channel mentioned above and is presently retracing to the neckline of the channel or ( 50% retacament of the intraday wave 3 to resume the bearish move to the expected zone before deciding what to do next.

If the present retracement happens to break 1.2600 upward, the bearish analysis is invalid

I presently have my pending sell position at 50% retracement of the most recent intraday bearish move

I will update you as it goes.

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Usdcad gaining bearish momentum - forex trading fxcm review

Usdcad gaining bearish momentum ~ forex trading fxcm review

My exploits of Usdcad has been very impressive since July this year. Every follower of this blog will admit to the fact that elliot wave system of market analysis is one of the best, if not the best.

You get the grasp of market past, present and future positions at your finger tip. 

You know the position of price at every market move and follow accordingly.

Presently , Usdcad looks so exhausted at the top after an impulsive move from July looks completed and the bears are preparing for a massive correction which could take us to 1.1000 or below. 

A nice momentum move downside will confirm this, anything less could mean the fifth wave is not completed yet.

After the economic data released in the first week of November which connoted that Usd could be getting weakened after a massive rise in few months now. 

The market, of course, reacted and moved downside. A retracement was expected for the second wave of the expected bearish corrective move.

I am already in a sell after my pending sell order was activated at 1.1370 , expecting a ride to 1.1000, while I cash out profits along the way. 

I will keep an update as more price chart confirm this move or invalidate it.

Hope you enjoyed the Elliot wave free week ?

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