UsdCad The Journey So Far And What To Expect - short term forex trading signals

UsdCad The Journey So Far And What To Expect ~ short term forex trading signals

UsdCad was my favourite currency pair. I have traded almost all the patterns in between  for a long time. Its count was so easy for me and at a glance, I saw what price was saying in every move and turn.

At the beginning of this year, I started with a bearish bias though with a long term bullish sentiment. The article was titled UsdCad Analysis for 2015. I forecast a rally in price to 1.35 and above, but after a dip to 1.0 region. 

Below is an excerpt from the article.

"In the long term, this current impulsive move from 2011 is probably part of the ‘C’ leg of the projected zigzag corrective pattern. The ‘C’ leg should take us to 1.35xx and 1.46xx in the years to come, probably a period of 3-4 years"

 

Price since then even rallied further quickly to a long term high in a 5-wave impulsive bullish move which fit a perfect flat formation (weekly chart) as I posted in what was titled Flat formation in Usdcad. I sold at the completion of the flat as I expected a full long term bearish move. Price only dipped for about 900pips before the bullish resurgence.

Price advanced to 1.255 and I labelled it a zigzag correction of the first bearish move which I favoured as an impulsive move though I had a corrective alternative. I chose the impulse because I expected price to react to a larger degree flat pattern..

The advance to 1.255, as a percieved zigzag pattern prompted me to a sell expecting a wave 3 dip which should at least break 1.19 below.

After that discovery, I posted an analysis titled Multi face analysis of Usdcad. 

Below is an excerpt from the analysis.

 

"The long term bullish flat correction which started in 2007 is expected to have ended. The first impulsive wave downside followed by a prospective zigzag corrective wave 2. 

Price is expected to start a new impulsive journey to the downside which is expected to take 1.1920 ( the first wave low) and to 1.1250."

 

Price dipped as expected in a move that was not typical of a wave 3, a zigzag to be precise. The dip ended at 1.21 which was 200pips away from the 1.19 low. Price advanced so fast in the manner of an impulsive move as I watched it broke above the 2015 high at 1.283 and I changed my wave analysis to what I have below.

 

 

 

  So if this is the case, what do we have in the longer term?

The dip from 1.283 to 1.19 was only the 4th wave of the last leg of the longer term (degree) abc correction to complete what pattern?. A zigzag probably.

The chart below shows an emerging long term correction.

 

This zigzag pattern has entered the region of the 4th wave of the impulsive dip from 1.62 to 0.905 ,as shown in the chart above, which is a good region for the completion of a corrective pattern especially a zigzag.

 

I expect price to continue the rally to 1.34 or 1.40-46 in a fifth wave journey after a minor shorter term wave 4 dip. 

 

These projected levels are similar to what I forecast at the beginning of the year as I have posted at the beginning of this article. 

 

What happened between January and July, of course, was a change of pattern which is what we use as elliot wave theorist to understand the behaviour of price.

 

We can follow price actions by analysing with elliot waves theory. 

 

By using elliot wave principles, we can :

1. identify the direction of the dominant trend.

2. identify counter trends.

3. determine the maturity of a trend and a counter trend.

 

As prices develop, we will look for inherent tradable patterns that will build our confidence and apply the right money management rules.

 

Trade with confidence. JOIN AN ELLIOT WAVE MENTORSHIP CLASS and be an elite trader.

 

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How To Trade Forex Successfully Good Loss Bad Loss - forex trading signals uk

How To Trade Forex Successfully Good Loss Bad Loss ~ forex trading signals uk

Nobody like to lose, especially when there is money on the line, but like it or not, the losses are an integral part of the negotiation. Despite what the "gurus" of the currency would have you believe, all losses from foreign exchange transactions are not bad. So how do you differentiate between good and bad losses losses? At the end of this article you will know how to successfully trade Forex by adopting the correct losses.
Not all are bad losses Forex Trading
Contrary to the belief of most forex traders, not all foreign exchange losses are bad, and there is no way that you can never avoid taking losses. There are good losses and bad losses, and if you can eliminate bad business losses, then you will be well on your way to consistent Forex trading profits. So what is the difference between good and bad losses losses?
Good, bad losses are losses incurred by deviating from your system, taking rogue trades, not following their mental stops, taking too large positions, etc. They are losses that could have been avoided if he continued his Forex trading system. Good losses on the other side are good parameters that are simply not the way you expected, but it will make a positive expected return in the long term.
As Successful Forex Trading
Heres how to trade Forex successfully: only trade with a profitable Forex trading system, and implement good money management for each position you take. It is easy to think that you are smarter than your system and you cancel on a whim, but in the long run, you are open to a lot of bad losses.
Bad losses occur when you are not ready to make up losses. Trying to negotiate its exit a losing trade when I would have left for years or try to double or triple your next transaction to offset the losses of the previous exchange. All these Forex trading mistakes are symptomatic of not wanting to make a good loss, finishing with a bad defeat in the final.
So if you want to be profitable with Forex trading over the long term, then be disciplined in following their profitable Forex trading system, and are not greedy and try to win more than their expected benefits. Practice a strict money management, benefits and worsen over time. Remember, slow and steady wins the race!
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The New State of Usdcad - forex robot trader reviews ea

The New State of Usdcad ~ forex robot trader reviews ea

I have maintained a very bullish bias of Usdcad and price has not given me any reason to think otherwise. 

The last forecast I posted on this pair on 14th November about a double zigzag complex correction gave me some nice 140pips, though I aimed more.

 Price closed the second part of that trade at 80pips. Not bad for a corrective trade.

This market is amassing momemtum to fly high.

Going by the long term, weekly chart, price is in wave 5 of an impulsive move which has the ability to soar to 1.1850 (100% of wave 1- equality ratio) or 1.2700 ( 1.618% of wave 1).

Going by the 4 hour chart, the recent downside correction could be the wave 2 of the expected impulsive wave 5 to complete the last motive wave before we look for a bearish move properly.

The intraday chart figured a flag pattern consolidation, which if broken upside should support the bullish bias.

If flag is broken upside, I will see you in 1.1850.

I will update you as price reveal its movement.

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Short Term Analysis of Cable - fx today's forex trading signals

Short Term Analysis of Cable ~ fx today's forex trading signals

After a long move downside over a long period of time, Cable finally reversed at 1.455 and we are getting close to know how the resultant bullish move could turn to play out. 

Viewing the bullish move through elliot wave binoculars, its clear that the long term bearish move might not have concluded. What the chart is showing us presently is that price is correcting.

What pattern of correction?. We get the answer from elliot wave.

Many elliot wave analysts will definitely have different view on the counts, but what I see from my angle here is correction. The correction might not be over though as price can still proceed the bullish movement.

The first bullish move from 1.455 was clearly a 5-wave impulsive move. Price corrected in a zigzag pattern to 1.51. The continuation of the bullish move followed to 1.59 in a movement one might  think would be a motive move, but was a corrective zigzag. 

When we see consecutive zigzag patterns in a particular trend, high possibilities are there that its a corrective move of the larger trend.

The pattern forming in advance counld be a RUNNING FLAT , a 3,3,5 corrective pattern. The prospective Flat started at 1.58 and could end at 1.51 or 1.49 regions. We are in the last leg of this pattern in a clearly forming 5-wave impulsive dip. cable is expected to dip to this region where we can set to look for a trading opportunity.

 

 

 

 

Of course, price can move in many other ways. 

The way I analysed is just one of them. I always like making a way I expect the price of any market to move. If it doesnt move that way, I think of another. 

But my way of thinking is directed toward the completion of an elliot wave pattern. 

Why wont I when its such reliable?

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How Longer Will The Bull Rule UsdJpy - forex trading signals sites

How Longer Will The Bull Rule UsdJpy ~ forex trading signals sites

Usdjpy broke 13 year high with a long term impulse primary wave which started from 75.045 in late 2011. The primary impulse is presently at an advance stage which could probably extend to 135-136.

I believed the dip from 126 would be the beginning of a primary correction in what was expected to be a motive wave but a double zigzag corrective pattern was formed instead which suggested to me that the primary bullish wave should still continue and the next long term price levels to watch out for are 135-136 (2002 high was at 135.798).

Follow the intraday analysis here

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GbpJpy In a correction upside How to take advantage! - free forex trading signals mobile

GbpJpy In a correction upside How to take advantage! ~ free forex trading signals mobile

In the last video I released, I made an analysis of how I intended to sell GbpJpy. My sell entry was satisfied and I sent a message across to my subscribers to sell GbpJpy which gave us more than 800 Pips.

We are already out.

This is the new view . Watch the video below. If the forecast is satisfied, we will consider buying at the price mentioned




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NzdJpy Would these combined corrective patterns trigger a bearish move - latest forex trading signals

NzdJpy Would these combined corrective patterns trigger a bearish move ~ latest forex trading signals

On 16th February, I did a video analysis pointing at a long term flat pattern emergence. See here .

The chart above was used in the analysis.

Price is projected to move in a motive wave and the first wave is still in motion, probably in the final phase i.e the fifth sub-wave.

With price projected to dip to the 70 price region with about 600 pips away and a motive wave, an impulse wave or an ending diagonal.

The video below explained further how price could move.



The second sub-wave of the fifth wave is complete and price is in motion to complete the third wave.

See the chart below

The chart above shows how the third wave of the 5th sub-wave is emerging. A combination of zigzag pattern followed by two different flat patterns shows that the recent intra day bullish drive will soon be exhausted for the bearish trend to continue in journey that could get to 70 price level.

The chart below shows the plan.

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How To Exit A Trade With A Pattern - top forex trading signals

How To Exit A Trade With A Pattern ~ top forex trading signals

AudJpy was one of the markets doomed for a sell off after an analysis, based on elliot wave theory, that Japanese Yen was expected to strenghten across board, which means that Yen pairs were expected to fall.. 

Yen Pairs fell sharply days after the forecast.

 

AudJpys decline from 97.399 was expected to be in 5 waves trendy move. 

 Wave 3 of this impulsive move tend to be in progress after the completion of the first two waves.

 

 

 

 The 4th wave of this 3rd wave was clearly corrective. 

It was a double zigzag corrective pattern. Double zigzag is one of the corrective patterns I trade.

 The ending formation of this zigzag looked terminating. 

I put a sell order at the break of the supporting trendline at 91.69 risking 89 pips at 92.586. 

The final target was below 89.12. I expected price to move sharply downward. 

 

 

 

 

 

Price responded to the break and after many hours, formed the chart below

 

 

Price reaction to the end of a zigzag should be motive in nature. Price went sideway instead and completed a triangle. At the break of the triangle, I exited the trade totally with a loss of 15pips instead of 89 pips, that was a great loss cut.

If the above wave count will be validated by price, it should soar higher to complete a deeper correction before the bearishness starts.

If price likewise falls in the region of the triangle and break it below in what may look like the completion in a motive mood, my first analysis will hold and I will have missed a good profit.

The triangle formation is an anomaly and one should not trade with a mixed feeling.

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Gbpchf The Long Term View - profitable forex trading signals

Gbpchf The Long Term View ~ profitable forex trading signals

From the monthly chart below, it can be seen that Gbpchf has declined in 3-waves from 2.7328 to 1.13825 in a move that lasted for more than a decade.
The move is expected to be an impulse wave.

The rally from 1.13825 (2011 low) is expected to be the 4th wave of the impulse. Price has tried many times to break above 1.5600, which has now become a strong resistance.

The 4th wave which began at 1.13825 (2011 low) is getting set to complete a flat corrective pattern.

Flat patterns, according to elliot wave theory, are 3,3,5 patterns; the first wave wave is corrective (3-wave), the second wave is also corrective (3-wave) while the terminating wave (5-wave) is a motive wave (impulse wave or ending diagonal).

The weekly chart below shows the internal/building waves of this 4th wave.

The terminal wave of the flat correction is completing an ending diagonal. The 5th wave of the diagonal will be expected to be a 3-wave as indicated in the chart below.

If price is contained below 1.5600 and breaks below the trendline connecting wave 2 and 4 of the diagonal, there will be an opportunity to put a long term sell order to ride to 1.38 and below.

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Gold Rally Is Imminent How Prepared Are You - signals of forex trading

Gold Rally Is Imminent How Prepared Are You ~ signals of forex trading

Since 2011, Gold has been on a free fall from $1920.5 per ounce and now, only been supported by a psychological $1000 price level.

I labelled the rise to $1920.5 a 5-wave impulse.

From a larger forecasting point of view, Gold might still fall in the future to $671.11 after an expected rally to $1450-1500 price levels. All these will be, if the correction from $1920.50 will be a deep or complex zigzag corrective pattern.

Of course, we can always adjust our analytical forecast as price determines evolving patterns.

Right now, what we see is a clear 5-wave fall from $1920.50 which is labelled as the first leg of the correction of the impulse wave that ended in September 2011.

The weekly chart below shows this clearly.

The second leg, a prospective 3-wave rally, is expected to end around $1450-1500 price levels.

More so, the fifth wave of the impulse dip from $1920.50 is a clear ending diagonal pattern which gives us more confidence as to the expected rally. This is shown in the daily chart below.

$1000, a psychology price level, is expected to hold as a support. A dip below it could hamper the price of Gold going up.

A break above $1100.35 should trigger a long trade as price is expected to break above $1193.7 and to $1300.46 in the medium term.

Lets alert you of high confidence trade set ups. Join a group of happy traders who have been receiving our trade signals both free and premium. We made over 2000pips last month.

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Forex Trading Strategies How to Make It Big - forex trading signals from banks

Forex Trading Strategies How to Make It Big ~ forex trading signals from banks

Forex is the short-term exchange rate determines the value of the currency of a country. Financial institutions serve as intermediaries between buyers and sellers. Exchange transactions in general, not just for runners who have worked in the financial market. There are brokers who have chosen to work from home and made their own forex trading strategies that work for them to be able to get more benefits. Patience, perseverance and determination are required if you want to enter the commercial sector.

There are some forex trading strategies that can be used by new operators in particular. For those who are not new to this type of business, it is important to know the liquidity and volatility of shares that are trying to sell. Liquidity: the possible prices that can be done by selling the shares and volatility is a measure of the loss or gain on the sale of shares.

This is only one of the forex trading strategies mostly used by beginners in this activity. For beginners, it is important to know the type of currency that wish to enter. Careful observation of how the currency or the market to get the best deal for the shares are trading works is necessary. Being able to reach the right decision at the right time is as important as any other forex trading strategy available.

For some traders who have been in the forex trading business that can reach one million currency trading strategies, but many say beginners to find a strategy that works for them. Traders have to find the best strategy that suits them, according to their ability to be able to use his talent to get more benefits. There are some traders who are experienced in working to achieve the correct currency trading strategies. Looking at the veteran does not mean that you can reach the right strategy, because it is important that you understand the reasoning behind the strategy methods.

There are market trends that must be studied when we want to enter the Forex market. Part of currency trading strategies is to learn your trading style. It is also important for beginners to catch up with the unpredictability of the stock market. It is important that they know and accept that there are times when the loss is more likely to win beginners.

Exchange rates should not rely because the forex market is unpredictable and this could mean more losses by beginners. Are automated forex software can help make it easier for business beginners. In any business, there is the possibility of losing, but the important thing is to persevere and not give up learning the ropes. Quitters never win and winners never quit.
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Continuation Of Eurusd Bullish Correction How probable - binary options trading signals forex peace army

Continuation Of Eurusd Bullish Correction How probable ~ binary options trading signals forex peace army

Its been long that I havent updated on this pair. The last analysis titled Eurusd Intraday Update was about how far price has reacted after the rise from 1.046.

Price from 1.046 is clearly engaging in a correction after a long term bearish move. The correction was expected to be a double zigzag pattern

The correction has already completed the first two legs of the prospective zigzag pattern. The last leg could take price to 1.23-1.25 resistive region.

The chart below shows the clear pattern forming within the last leg of the correction.

The last of the correction which ,on its own, should be a zigzag pattern is in the process of its second leg ( a probable triangle pattern). If this triangle pattern completes as indicated in the chart above, price would be expected to break above 1.1480 in a new bullish journey to 1.23-1.25 zone.

Triangle patterns are one of the corrective elliot wave patterns and they mostly signal the last drive of the prevailing trend (whether motive or corrective) before a bigger trend or a correction resumes.

An opportunity for a long trade will present itself if this triangle pattern is formed as forecast and price does not break below 1.10722 resistance level but rally above to break the triangle upside.

The bullish correction does not look ended unless price breaks below 1.10722 convincingly in high momentum.

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Weekly Elliott Wave Analysis 11 01 (updated) - near trading forex signals

Weekly Elliott Wave Analysis 11 01 (updated) ~ near trading forex signals

The elliott wave intraday and long term forecast and analysis of Gbpchf, Audchf, Euraud, Gold, S&P 500, Usdcad, Crude Oil, Dax 30, Eurgbp, Usdjpy

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How To Trade Elliot Wave Patterns - upshot forex trading signals

How To Trade Elliot Wave Patterns ~ upshot forex trading signals

Elliot wave theory has proved time and time again how effective it could be in determining market direction. 

 

Not only does it have high confident trading patterns to watch out for in any time frame and any market, but does have the ability to forecast market movement.... every bit of it!.

From the super fast tick chart to monthly time frame chart, its effectiveness is superb. 

As for the elliot wave counting and analysis,a chart can be analysed by 10 analysts and all having different counting . 

Until patterns are completed, counting is usually controversial.

 

I have seen some fellow elliot wave students who, after seeing how I labelled my charts and analyzed, showed me something different. 

 

They get confused and perhaps scared that their counts may be wrong after all. I always told them until a pattern is completed, the counts are adjustible and no correct count is tradable until price confirmation. 

So how does price confirms wave counts? It does in PATTERNS. 

 

Elliot wave patterns confirmed by some technical tools are very profitable. They are  not perfect though. 

Time spent on sieving out these patterns is worth it.

  In any time frames or markets; once spotted and confirmed by few technical tools, are very powerful and profitable. Their profitability is highly probable.

 

One of the reasons for the failure of an elliot wave trader can be traced to trading the wave count instead of the patterns.

So it is important to trade the patterns and not the wave count. Price responds to patterns and not the count. 

 

Infact, often times, when the pattern formed is against the wave count in a particular direction; price is speaking to us to analyse the count in an alternative way.

Let me give an example to nail my point.

On 23rd June, I posted an analysis here. 

Before that time, I have made known how I had a short term bullish bias on Eurusd, after reading from the charts with the help of elliot wave theory that the bullish movement that started in mid-march is corrective in nature.

 I saw a double zigzag in advance.

 

Price rallied from leg X of the prospective double zig zag pattern after a zigzag dip from W to complete the first leg of Y.

 After few days, price went into congestion and form a typical triangle pattern.

Prior to all these, I was already in a bullish position after the completion of a zigzag pattern at X. 

At the break above the triangle, I closed 50% of my position and added another 50% to take to 1.175 and put the two stop loss at the base of the triangle. 

 

After that action, I posted an analysis here titled Intraday triangle in eurusd . An intra day triangle pattern as shown below.

 

 

 

 Price continued to consolidate and later moved in a way that is not typical of a triangle pattern breakout (price has a way it reacts before and after the completion of a pattern). 

 

After some time, price invalidates the triangle by forming a new pattern. The ending diagonal!. 

 

When I saw this pattern, I closed all my positions in good profits, though final target was far from being reached.

I did a new analysis and I shared here. The title was Eurusd in a bearish net. 

For this, I also had an alternative double zig zag pattern which is a corrective pattern. 

 

The pointer is bearish and I entered a bearish position against my elliot wave count   (the expected double zigzag) which I closed at 350 pips risking 125pips.

I closed this trade because of the long term circumstance surrounding the pattern I traded.

If the pattern was a diagonal, the bearish trend could set to resume, but if it was a double zigzag, the bullish move is meant to continue. 

 

Diagonals signal change in trend or an imminent correction. Zigzag patterns appear in the middle of the trend and signal trend continuation.

The chart below was the one I posted.

 

 

 While many were reading about how Greek bailout went in europe, elliot wave traders were reading traders psychological response to the event as shown by price in patterns. 

During the period, I have raked in 650pips. Not bad.

 

Its very easy to manage trades from execution to exit. Thats what makes elliot wave a complete methodology. 

Though reading waves in charts are very profitable, elliot wave traders should always trade patterns formed.

To be successful as an elliot wave trader, one should note the following.

1. Know the basic tenets of elliot waves. They are not difficult.

2. Understand the formation of elliot wave patterns and their specific behaviours. (There are 11 patterns)

3. Know how to confirm the patterns with other technical tools.

4. Trade the patterns you understand most.

5.Understand how price reacts to a pattern after completion. This is to avoid pattern roll over. 

Pattern roll over is my special term for a situation where a pattern, instead of fulfilling its potential, turns to another pattern i.e when a pattern spotted is not real but part of a larger frame pattern or wave count.

 I usually exit my position when I discover this and watch what forms next.

Elliot wave pattern is not the holy grail but, if well used, is profitable.

You can learn how to identify these patterns by picking up books on elliot waves.

 

 

                                                  OR 

 

 ENROL FOR MY 6 WEEKS ELLIOT WAVE MENTORSHIP PROGRAMME starting on MONDAY 20th JULY to FRIDAY 28th AUGUST, 2015.

                                       WHAT YOU WILL LEARN.

 

1. The basic tenets of elliot waves theory.

2. How to spot my three favourite elliot wave patterns. These patterns have made me feel very comfortable while trading. They are just very reliable.

3. How to confirm with simple technical tools. 

These technical tools can even be adopted as a system. Many people I shared with went on to neglect the patterns and focus on this technical tools. 

When combined together with these patterns, you can trade with confidence.

4. Specific entry level for each pattern. You will not pick tops or bottoms, but learn specific levels to enter the market.

5. I will not bore you will too much of elliot wave stuffs, we will only discuss the formation and geometry of these patterns on any time frame and any market. No boring wave count.

6. You will learn how to manage your trade by understanding how price responds to each pattern.

7. You will learn how to spot profit taking levels.

8. You will learn when to run with your profits and cut down your loss.

9. You will learn how to use a simple money management model to take sequential profits and run with highly profitable trades just like I am doing with CadJpy now.

HOW DO WE INTEND TO ACHIEVE THESE?

1. You will receive some of my elliot wave materials for general reading.

2. Lessons will be delivered each day (pdf) for you to download and read.

   First week :     General elliot waves studies

   Second week:   First pattern discussed 

   Third week:      Second pattern discussed

   Fourth week:      Third pattern discussed

   Fifth week:        Supporting technical tools

   Sixth Week:     Live trade examples

3.   For each lesson there will be examples from past charts activities. For each lesson taught, all participants and I will brainstorm with many examples from the chart until the lesson is nailed.

4. Assignments will be given to all participants to label specific charts.

5. Participants will learn how to use Mt4/Mt5 analytical tools for easy analysis.

6. I will ensure to answer all questions in the best way I can.

7. Training will be delivered through a facebook secret group.

8. Many more that I plan to reveal and those I will end up revealing in the questions and answers session.

Price of training: #10000  or  $70 only.

 

If you want to consider how much you have lost trading and how much you set to gain from the knowledge, then the fee is so small.

 

How to enroll.

1. Send an interest message to forexmaster05@yahoo.com or to +2348134820569.

2. You will receive the payment details

3. Make payment and notify me.

4. Once your payment is confirmed, details on how to join the group will be sent to you.

ADMISSION CLOSES ON FRIDAY, 17TH JULY,2015. HURRY UP

IF YOU HAVE ANY QUESTIONS, SEND TO forexmaster05@yahoo.com or call +2348134820569.

YOU CAN ALSO MEET ME FOR A ONE-ON-ONE TRAINING IF YOU RESIDE IN PORT HARCOURT AND ITS ENVIRON.

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How Farther Will The Cable Dip - forex trading buddy review

How Farther Will The Cable Dip ~ forex trading buddy review

For more about 3 weeks, I have maintained a strong bearish stand on Gbpusd. It has been a very rewarding and relaxing journey. From -70pips to 100pips to 250 pips and yet sitting down and watching how my final target will be hit at 1.4980 to round up a truly rewarding trade of 400pips.

 

If you are a visitor of this blog, you can read my first analysis here and the second here .

 

Now that the power of the ending diagonal has been confirmed and price moved down in a typical impulsive move, minor correction should be expected especially when a strong support is close.

 

My recent intra day elliot wave count shows that price has moved and making the second minor retracement (wave 4).

 

I expect price to move down from there to test the support zone indicated at 1.4950-1.4990.

 

If price doesnt penetrate the support in high momentum, price will consolidate or retrace.

 

Price is the key and the king. 

 

I will update you here

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CadYen A new opportunity - automated forex trading software reviews

CadYen A new opportunity ~ automated forex trading software reviews

There is an opportunity surfacing here to trade the fifth wave in the opposite direction after a confirmed long term zigzag correction.

From the weekly chart, a successful zigzag correction was formed at 106.5 which is a resistive zone. 

 

Without surprise, price reacted immediately downward from this level. 

By projection, if price breaks the supportive trendline, we could see price at 49 ,which is the 61.8% projection of wave A from B to ride to C, in the very long run.

Zooming down to the 4hr chart, the movement from 106.5 looks impulsive after completing 3 waves with the fourth wave, a diagonal triangle, expected to complete if price does not go back to the diagonal region.

 

 In as much price is held below 96.8, there is a high probability that price will fall especially if it turns back from to break 94.4 downward. the region 94.4 - 96.8 are very important and a sell could be taken from these areas if price shows a sign of reversal. 

 

If these level are held and price dips further, we could see price at 88 (61.8% extension of wave1-3 from wave 4) and its neighborhood.

If price breaks above 96.8, an alternate wave count will be required to ascertain the next destination of this market

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GbpJpy When Will The Bears Take Over - real forex trading signals

GbpJpy When Will The Bears Take Over ~ real forex trading signals

The weekly chart above shows the sell off from 252.167 to 118.161 in a supercycle bearish impulsive journey. After such an impulse wave, a correction would be expected. The correction started from 118.161 in a zigzag pattern.


The last leg of the zigzag (an impulsive cycle wave from 116.325) is close to termination (presently at a very strong resistive zone) and the long term bearish trend will be expected to resume.
All focus now on the terminus pattern of the 5th wave of this cycle impulse wave.

The daily chart above shows that the terminus pattern is an ending diagonal with a wide base contrasting to a thin mouth. When the expected sell off starts, its going to be of high momentum.

The 5th of this diagonal might not get to the terminus of the 3rd wave at 197 and price could rally a bit to 195.75 before a fast fall as the hourly chart below shows.

The hourly chart above shows that the 5th wave of the ending diagonal could be an ending diagonal which further gives confidence for a bearish outlook.

If price is contained below 195.755 and breaks 193.34, price could start a big fall to 190.863 (in the short term) and 173.553 as the final after-diagonal price reaction target.

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Usdcad Party How does it fair - free forex trading robot reviews

Usdcad Party How does it fair ~ free forex trading robot reviews

In the month of October, Usdcad really gave me many pips and I predicted its move almost perfectly with an incredible timing , entries and exits; maximizing almost all the up and down moves

This success story started on 6th July when I predicted a long term bullish move and I have been able to consistently follow through. Markets are really structured.

In the month of October alone,I took a short move on 6th October, 15th October; long moves on 10th October and the recent one on 31st October which could take us to 1.1500.

Each short move I took, I still had it in me that the general trend is up until price proves me wrong. 

I expect the recent upmove to rest at 1.1500 ( though my stop loss is a bit below) where the impulsive 5-wave move cold end for a bearish correction 

I will watch how price wants to play out and will update you. Till then let me enjoy the party!

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How To Use The Stochastic Oscillator - free forex trading buy sell signals

How To Use The Stochastic Oscillator ~ free forex trading buy sell signals

A lesson from EWIs Jeffrey Kennedy

By Elliott Wave International

The stochastic oscillator is a technical tool that was popularized by George Lane. It is a momentum indicator based on the idea that in an uptrending market the close tends to be near the high of the price bar, and in a downtrending market the close tends to be near the low of the price bar.
Watch an 11-minute lesson from Jeffrey Kennedys Traders Classroom to learn how you can use this popular indicator in your analysis and trading.

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In these three video lessons, Jeffrey Kennedy shows you how to look for trading opportunities in your charts. Kennedy, instructor for Elliott Wave Internationals popular Traders Classroom service, reviews the 5 core Elliott wave patterns and then shows you how to combine technical methods to create a compelling forecast.
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This article was syndicated by Elliott Wave International and was originally published under the headline How to Use the Stochastic Oscillator. EWI is the worlds largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

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Eurusd About To Complete A Triangle - free forex trading signals software

Eurusd About To Complete A Triangle ~ free forex trading signals software

Amidst uncertainty concerning the greek bailout, the Euro which is perhaps destined for more dip does not yet look set for it. The rally from 1.045 can be said to be corrective. The questions are: what corrective pattern and when will it end to give way for the bears to take over in a move expected to break below the 1.045 mark.

I have for a long time forecast a double zigzag correction to 1.78-85 price level and price has not fulfilled it neither has it invalidated it.

The last update was on 22nd July with an article titled Watch out for Eurusd .

 

 

 

 

Along with the chart above, I wrote :

"The chart above shows two corrective waves- [w] and [x]. Wave [w] is a corrective zigzag while [w] fits a flat. 

The wave c of [x] is emerging as an ending diagonal, a tradable pattern.

If price dips a bit from the current position ( to complete the last leg of the diagonal) and break above the emerging diagonals wave iv, we should be seeing Eurusd advancing."

 

Price did dip a bit and advanced but the move was not a typical after-diagonal move and price , not getting to wave ii of the diagonal, dipped further to form what looked like another emerging pattern.

The [X] leg of the prospective double zigzag is about to complete a triangle (an elliot wave corrective pattern) and a break above the B-D triangle line will validate a move to advance Eurusd to 1.16-1.18.

 

Price is expected to complete the last leg of the triangle which should end at 1.081. A break below this level will invalidate the entire forecast.

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