Intraday Ending Diagonal On GbpUsd - barclays reviews forex trading

Intraday Ending Diagonal On GbpUsd ~ barclays reviews forex trading

If there is a pattern I enjoy watching out for, it is the ending diagonal or what many chart pattern trader call Wedge formation. 

 

This pattern , apart from its ease to spot and reliability, it also gives an excellent risk reward ratio especially when it ends a correction like what we are having presently in the 1 hour chart of Gbpusd.

 

Since August 2014, the cable has been undergoing a very sloppy run of bearish movement.

 

Going by the daily chart, price could presently have completed wave 3.

 

 Due to the fact that wave 3 is expected to be a 161.8% fibo extension of wave 1, presently price is at 138.2% extension. 

 

 

This shows that there could still be some room downside to complete what would probably be the last wave of the third wave before we have the last correction of the bearish impulsive move. 

 

The price wave formation on the 1 hour chart strongly supports this count with a corrective zigzag formation ending with a clear ending diagonal.

 

 

price should take a dive to 1.4680 ( 161.8% extension of primary wave 1 and 127% extension of subsidiary wave 1)

 

I expect to sell from here as negative divergence formed on the daily chart further gives more confidence.

 

However the price moves, I will update you.

 

You can join my mailing list by forwarding your e-mail address to Forexmaster05@yahoo.com

More info for Intraday Ending Diagonal On GbpUsd ~ barclays reviews forex trading:

Read more

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

Usdcad Resultant Triangle Another Trading Opportunity! - binary forex trading reviews

Usdcad Resultant Triangle Another Trading Opportunity! ~ binary forex trading reviews

Wow!....Usdcad has continued its business from where it stopped in 2014 ---Spinning Pips for me! 

 

The last post I did here was about how I took 180pips of the 60% of my exposed lot (The other 40% stopped out at 100pips. 

 

Not bad for a trade of 85pips risk) ,while I watched out for the neckline of an emerging double top whose breakout is expected to be part of the long term bearish movement forecast.

 

I always noted something: as more price data are added, price tend to show us clearly what next is expected and we can follow through with substantial evidence until we have none.

 

The bearish expectation spurned out from the analysis I did on the weekly chart where I spotted an end of a flat correction with reversal candlestick analysis. 

 

You can read the analysis here.

 

With the current intra day price data, what we are having presently is a corrective pattern- A corrective triangle to be precise. 

 

If price breaks this triangle to the upside we could see a real bullish movement ..Did I say bullish..yes! I have a bullish intra day thought against the bearish forecast because that is what price is saying to me at the moment.

 

 Besides if the triangle breaks up and reach 1.3( the next resistance) and its neighborhood, the flat correction is still intact and I can continue from there as price directs.

 

 

I will wait and see how price validates or invalidates this triangle and the alternatives it presents

 

I will be here to update you

More info for Usdcad Resultant Triangle Another Trading Opportunity! ~ binary forex trading reviews:

Read more

EurAud Could be Exhausted Upside Imminent Sell Off - free forex trading signals review

EurAud Could be Exhausted Upside Imminent Sell Off ~ free forex trading signals review

The price movement from 1.3655 in April 2015 after the completion of a diagonal pattern highlighted how important elliot wave patterns could be. The bullish move should never be mistaken for an impulse wave.

The fact that component waves are 3-waves shows that the entire movement is not impulse not to talk of how the entire movement was perfectly placed in a channel (which is not common to Impulse waves).

The pattern was forecast to be a triple zigzag (often formed within a channel) in the Intra-day analysis of Euraud.

Elliot wave stated clearly that after a corrective pattern, a motive wave should follow and if this pattern will hold, we might see price falling in months to come.

Meanwhile, price could go a bit higher but should be contained below 1.5700-50 before the sell off.

We are prepared to follow through: you can join the daily updated Intra day analysis of Euraud.

More info for EurAud Could be Exhausted Upside Imminent Sell Off ~ free forex trading signals review:

Read more

Danger looming for Equity Forex Markets GBPUSD at 8 month high - forex trading system wikipedia

Danger looming for Equity Forex Markets GBPUSD at 8 month high ~ forex trading system wikipedia

The dollar plummeted against most major currencies on Wednesday after the Federal Reserve said it was making no changes to its USD85 billion monthly bond-buying program.

GBPUSD today is close to an 8-month high, after soaring more than 1.5% over the last 10 days. This poses a problem for Forex Software Traders, who depend on the small market fluctations in stable currencies for profits. Especially for Robots that use the Martingale (doubling) system, these uncertain times could spell disaster.

My personal view is that danger is looming; diversify your portfolio into safer investments, and possibly into Gold/Silver, Bitcoin, or Chinese Yuan (RMB). My best advise is to do your own research into these opportunities and examine if they fit your overall Investment Strategy, based on your Risk Preference.

Source: Bitcoin Boom: Is This the New Safe Haven?

Source: StarfishFX Daily Analysis http://starfishfx.com/en/resource-center/trader-resources/

Source: Forex - GBP/USD holds gains, near 8-month highs http://www.investing.com/news/forex-news/forex---gbp-usd-holds-gains,-near-8-month-highs-252850

Source: Gold Traders Split on Two-Year Anniversary of Peak: Commodities http://sgx-news.blogspot.in/2013/09/gold-traders-split-on-two-year.html

Just a little background, I was using a Forex Automated Software to trade the GBP/USD pair since November 2012. In light of the Economic Instability due to recent World Events, I have since stopped. 

You can find out more about how the Forex Robot works at autoforexsg.wordpress.com. The Robot is still available for purchase, feel free to contact me if you have any questions at all. However, trade with caution!

Source: Youtube - When Will The Economy Collapse?

Source: Youtube - World War 3 Has Already Begun 

Related articles

• Ichimoku Points to a Strong GBPUSD Set-Up off Cloud Bounce (xe.com)
• ForexLive European morning wrap: Pound and yen prevail as markets await the magic from Mr B (forexlive.com)
• Bitcoin Now Has Huge Potential to Thrive in the Market, Says Jonathan Millet (virtual-strategy.com)
• Plus500 Offers New Opportunities for Bitcoin Trading, Reports ForexMinute (virtual-strategy.com)

More info for Danger looming for Equity Forex Markets GBPUSD at 8 month high ~ forex trading system wikipedia:

Read more

Gbpusd Intraday Market Update - saxo bank forex trading reviews

Gbpusd Intraday Market Update ~ saxo bank forex trading reviews

I will be building on the analysis I did on 22nd of this month. You can scroll down the blog or click here. 

 

I noted an ending diagonal as part of the zigzag pattern that I thought could end wave 4 of the larger wave in order to be part of the potential large move downside.

 

I put a sell order at the break of the diagonal and soon market started moving up and down showing the diagonal might not have finished forming. A diagonal is usually followed by sharp moves

 

I exited the trade manually with -70pips in order to analyse more critically.

 

At the end of trade on 25th February, I saw that ending diagonal was still intact with double zigzags in between its legs. 

 

 

The fibonacci extension of wave A from B has pierced the 161.8% and price is now heading to 200% fibo extension level at 1.5560 and its neighborhood. 

 

This level could mark the last wave to complete the diagonal before a crash down.      A crash down could happen if the 200% level holds and price breaks below the support trendline of the diagonal.

 

Zooming down to the 15minute chart, something very interesting also surfaced.

 

  

    The supposed last wave of the expected diagonal formation, vividly seen on 15 minute chart is also forming a diagonal. 

 

This would be a massive move. That will be dual time diagonal formation.

If the 200% holds at the turning point, i would trade aggressively at the break of the 15 minute ending diagonal. 

 

A conservative way of trading is by waiting for the 1 hour diagonal to be broken downside by price. Proper stop order should be done with good money management.

I will see you in the next update.

Join my mailing list, send your e-mail address to forexmaster05@yahoo.com

More info for Gbpusd Intraday Market Update ~ saxo bank forex trading reviews:

Read more

Gbpusd The Power of the Diagonals - forex trading secrets book review

Gbpusd The Power of the Diagonals ~ forex trading secrets book review

How do you see an ending diagonal in a lower time frame confirming the termination of another ending diagonal in a higher time frame confirming the termination of a zigzag correction in a much higher time frame?

 

When this happens, one should expect a spike movement in the other direction . This is what happened on 26th Febraury 0n Gbpusd. Wow! it was sweet!.

 

I shared it here, you scrolled down the blog, its not far. 

 

I Had two trade plans, one was aggressive ( break of 15 minutes ending diagonal) and the other was conservative ( break of the 1 hour ending diagonal).

 

The aggressive was triggered and 60% of it was closed at a profit of 100pips risking just 45pips.

 

For the conservative plan, I will wait till the 1 hour diagonal is broken downside and retraced to form a swing close to its break point and ride down in an expected massive move.

 

As more price gets on the way, market structure becomes clear. Until a reliable pattern is completed, no trade.

 

Trade with discipline

More updates coming

You can forward your message to Forexmaster05@yahoo.com

More info for Gbpusd The Power of the Diagonals ~ forex trading secrets book review:

Read more

Gbpusd Intra day Update - forex trading reviews australia

Gbpusd Intra day Update ~ forex trading reviews australia

The market ended today with cable advancing further . 

 

After taking a buy at 1.5350 with first real target at 1.5620 (270 pips), I decided to cash out as price is expected to correct to 1.5450.

 

The intra day wave analysis in the chart below shows that the first two days of this week have almost completed an ending diagonal terminating the impulsive wave 3 that started last week and price could dip but not below 1.5451 before further rally above 1.5650 and probably 1.5807.

 

 

 

If price dips below 1.5451, the bears will have taken the intra day bearish movement and we might see a dip to 1.5.

More info for Gbpusd Intra day Update ~ forex trading reviews australia:

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

Eurusd In A Bearish Net - forex trading signals websites

Eurusd In A Bearish Net ~ forex trading signals websites

The chart above was how we counted the elliot wave of eurusd.

 It has been noted that the bullish move from March 2015 is a correction as against the expected impulsive bullish move. 

 

A double zigzag deep correction is expected.

After some time, this is what we have.

 

 

The effect of the diagonal could take price to 1.113 or 1.105 before the bullish move could continue.

Our bias in the short term is bullish to 1.175 and the long term is bearish.

If price breaks below 1.1045, the short term bullish bias will be fading as we will be looking bearish all the way.

Updates will be posted here.

More info for Eurusd In A Bearish Net ~ forex trading signals websites:

Read more

Usdcad What Is The State - reviews about forex trading

Usdcad What Is The State ~ reviews about forex trading

In the last update on Usdcad, I mentioned how price could react to the break of the triangle corrective formation. 

How I expected it to retrace to the neck line before continuing the journey. 

 

I stated how price could react to the 1.2800 resistive barrier and unsurprisingly, price is consolidating around the region after breaking out of the triangle.

One of the properties of a triangle corrective pattern is that it usually preceeds the end of a trend or sub-trend. Triangles are usually wave 4 of a motive/impulsive move or wave B of a correction.

The move out of the triangle region should expectedly be an impulsive move or an ending diagonal which should break 1.2800 and be about 100% extension of the largest width of the triangle ( this is projected to reach 1.3025.

 

 

 

Presently, price is forming  more likely a would be ending diagonal than a regular impulsive move. Our confidence of having diagonal or impulsive move would be strengthened if price is contained in the upward channel

Price is expected to move up after completing what should be an intraday side way move.

If price breaks below the channel support line, we would see what price is saying and re-analyse if the momentum is not out of our reach.

More info for Usdcad What Is The State ~ reviews about forex trading:

Read more