Gbpusd The Clear Picture - forex trading signals sms

Gbpusd The Clear Picture ~ forex trading signals sms

In the LAST UPDATE on this currency pair, I wrote about a long term bearish bias. I also mentioned that in the hourly charts we might see some bullish move (especially if the rising trendline is not broken downside) before the bearish trend resumes.

A double zigzag correction to 1.65 was expected though the B wave pattern of the zigzag was not so clear.

The B wave now seem to form a triangle.

Price is expected to break above 1.571 to confirm the triangle formation.

In order for the triangle pattern to hold, price should not break below the ACE support line of the triangle.

Triangle patterns , according to elliot wave theory usually precede the end of a trend or correction. The formation of this triangle could mean that the correction upside is not over yet.

More info for Gbpusd The Clear Picture ~ forex trading signals sms:

Read more

RED ALERT Usdcad Bears are Knocking - forex automated trading systems reviews

RED ALERT Usdcad Bears are Knocking ~ forex automated trading systems reviews

I did an analysis on 13th February on Usdcad after discovering a successful flat formation and a reasonable bearish candlestick formation.You can read the analysis again

 

Usdcad went into some intraday triangle consolidation and I got myself following it hitherto.

 

 The triangle consolidation was breaking upside in an intra day motive diagonal move with 1.2800 acting as a resistive barrier. 

 

With another resistance at 1.3025 up for grasp and the FOMC announcement coming soon. It looked like a battle between these resistive levels...A resistive zone came to mind ( 1.2800-1.3205) especially when noting that 127% and 138.2% extension of wave1-3 from 4 of the C leg of the flat also fall within this zone. 

 

With price forming a flat corrective pattern (with C let coming as a clear impulsive move) at 50% retracement of the bearish move between Jan 2002 and Nov 2007, a reversal trigger is needed whether technically or fundamentally.

 

With the FOMC at the corner and 1.2800 acting very strong and an expected flat correction for a fresh bearish move, I had to exit my buy to 1.3205 and watch how price react to the announcement before knowing the next destination

The FOMC was negative and price move sharply out of the intra day ending diagonals to start a move downward. 

 

With all indications almost satisfied for a bearish move, Usdcad is expected to be on a bearish journey especially if this week candle is an engulfing one.

Follow and bookmark this blog to follow the journey and take quality trades along.

More info for RED ALERT Usdcad Bears are Knocking ~ forex automated trading systems reviews:

Read more

GBPNZD UPDATE - forex swing trading signals

GBPNZD UPDATE ~ forex swing trading signals

Elliot wave theory shows how human psychology is reflected in the charts . It is a roadmap to how traders behave or respond to market events. This phenomenon is shown in clear patterns, corrections or trends.

The last update on Gbpnzd showed a comprehensive all-encompassing market analysis that described the possible direction and resting zones to watch out for. Read the analysis titled GbpNzd. There were four probable patterns that price was expected to form.

The recent bearish move was a clear correction. Yes! A double zigzag, a textbook one. You know I love textbook patterns. They are very reliable. Once spotted, a trader can trade with a great degree of confidence and, of course, an acceptable capital exposure. The analytical chart below shows the clear double zigzag and how price responded in what look like an Impulse.

You can view the chart clearly by clicking on it or clicking this link .

What information can we get from this?. Gbpnzd will more likely continue the bullish move and the first scenario of the Gbpnzd analysis will be satisfied especially when the trendline is broken upside. 

An elliot wave pattern trader who was able to spot this pattern is already in  profits.

Do you want to learn how to spot such reliable patterns as double zigzag for high probability trades, join our elliot wave mentorship class. Send/sms your interest to +2348134820659 or mail forexmaster05@yahoo.com.

Learn more about the mentorship class here>>>

More info for GBPNZD UPDATE ~ forex swing trading signals:

Read more

GbpNzd Wave Analysis - fx trading reviews forex blog

GbpNzd Wave Analysis ~ fx trading reviews forex blog

There is no other thing that excites an elliotician more than seeing a wave pattern he can recognize on his chart. Such is what I have concerning Gbpnzd. 

 

If well followed, it will be rewardable.

From the daily chart, the upward move has already completed the first impulsive move ( leading diagonal) and its corrective wave ( running flat). 

 

The corrective running flat has been broken upside for wave 3 to emerge. with the thought that the third wave ( an expected 5-wave structure ) should at least expand to 161.8% extension of wave 1 from 2, this should happen at 1.4600 ( more than 4000 pips away) . 

 

Considering the fact that 1.4600 is a strong support turn resistance level, price getting to this level is possible.

 

 

We can watch price wave action in the lower intra day time frame in order to take trades piecemeal from this prospective trading opportunity.

 

On the 4 hour time frame, the price wave that broke out of the corrective flat pattern is running what looks like a 5-wave impulsive move. 

 

Presently congesting in a typical triangle pattern ( Wave 4 ). If the triangle is broken upside ( a trading opportunity), wave 5 will emerge before we see a large correction   ( a trading opportunity) . 

 

 

 

We will also trade the end of the correction if a recognized corrective pattern is formed to ride the trade up. 

 

There are potential opportunities for massive trades and the ability to follow through with patience and discipline will go a long way in the successful execution of these opportunities.

These are just forecasts, possibilities. Price will give us better information because its the captain of the army ; the rudder of the ship.

 

We check what price presents with what we have and make necessary adjustments and decision. 

 

I will be here for updates.

Forward any of your messages to Forexmaster05@yahoo.com

More info for GbpNzd Wave Analysis ~ fx trading reviews forex blog:

Read more

GbpNzd Its As Simple As That - forex trading signals tutorial

GbpNzd Its As Simple As That ~ forex trading signals tutorial

Look at the weekly chart of GbpNzd below, what can you see?.

The sell off from 3.7 to 1.75, a 19500 dip from 2000 to 2013. Is it a price movement in correction or motion (trend) ? Is the subsequent bullish move from 1.75 a correction of the bearish trend or continuation of the bullish trend?

All these questions can be answered by elliot wave theory.

Lets look at the following scenarios.

Lets consider the sell off as a bearish trend.

This is a very clear 5-wave decline and a rally followed immediately. According to elliot wave theory, a 5-wave  will be decline will be followed by a 3-wave advance. 

After the first rally, price is expected to retrace downward before advancing further to break the resistance trend line.

The chart below shows the second scenario

 

 

.

 

The sell off could be seen as a long term double zigzag correction. Wave W = Wave Y which is a common ratio in zigzag corrections. Price will validate this wave analysis by moving higher and break the 3.7198 resistance in a very long term. The time taken by price to recover the sell off should be about two-third of the sell off time. 

The two charts above are advocating for more bullish move; the first as a trend and the second as a correction.

What IF price, responds more to the strong resistance and falls further to break 1.7522 low?. Elliot wave has something for that in the chart below.

 

The long term decline is seen here as the completion of the first 3-waves of an expected 5-wave impulsive move. 

 

According to elliot wave, the 4th wave should not trade in the region of the 1st wave. The 4th wave is bouncing off that region, thereby making this count stand. 

 

The horizontal and diagonal resistance could be too strong to be broken upside. Price could continue to move downward in a new journey and the next target will be 1.6240 (0.618 x wave 1) or deeper, but should be above 1.2 region ( region at which wave 1= wave 5 ).

This wave count will be invalidated if price breaks above the resistance.

If price breaks below 1.62412, there is high tendency that the recent bullish move and the subsequent  bearish continuation are parts of the larger term wave 3.

Wave 3 is known to usually be the strongest, so this count will support that. Price must stay below the trend line.

 

Price is expected to dive to 1.37 which is a strong fibo-confluence zone. 

Price will, to a great degree of certainty, validate one of these forecasts. Are we to be confused by these forecasts. Capital NO.

This is an information in our hands. Elliot wave theory has helped us with varying ways of seeing possible price movement. 

Anyway price moves, we understand the language and adjust with confidence.

How do we profit from this? We simply look for the completion of elliot wave tradable patterns in the lower time frames that goes well with any of these analysis, set a profit and get out. 

We dont have to trade the forecasts, we simply trade the patterns.

Im already in a sell position from 2.3677 , targeting  2.3000 due to a pattern I recognized in the hourly charts.

DO YOU WANT TO LEARN HOW TO RECOGNIZE ELLIOT WAVE PATTERNS?

DO YOU WANT TO LEARN HOW TO SPOT HIGH PROBABILITY TRADES?

DO YOU WANT TO LEARN HOW TO KNOW WHEN TO CLOSE YOUR POSITION BEFORE PRICE GETS AGAINST YOU?

DO YOU WANT TO KNOW HOW TO RUN YOUR PROFITS.

ARE YOU TIRED OF JUST BUYING AND SELLING, AND LOSING YOUR FUNDS?

 

WHAT YOU NEED IS A MENTOR TO BRIDGE THE GAP FOR YOU.

Click here for more information

 

CALL or SMS +2348134820569.

OR SEND A MAIL TO forexmaster05@yahoo.com

More info for GbpNzd Its As Simple As That ~ forex trading signals tutorial:

Read more