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.

 

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Weekly Video Analysis UsdJpy AudJpy GbpJpy CadChf EurGbp - forex trading signals indicators

Weekly Video Analysis UsdJpy AudJpy GbpJpy CadChf EurGbp ~ forex trading signals indicators

Yen may continue its weakness against major currencies especially the dollar. Currency pairs like Audjpy and Gbpjpy are also set for a long term further bearish move.
The technical chart of Eurgbp shows how Elliott wave theory can consolidate the formation of chart patterns.
The technical chart of Cadchf also indicates how Elliott wave can confirm harmonic patterns.
 When all these technical tools are combined, there is more clarity of what the market could do.

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GbpAud Short Term View - forex trading.com reviews

GbpAud Short Term View ~ forex trading.com reviews

I would not want to bore you with the long term analysis of this pair. What I know now is that an intraday corrective pattern is forming and I have forecast what price could do to this effect.

In the 4 hour chart below, we could see an emergence of an impulsive wave. Let’s see if we can follow price as it tells us what to do next. The first wave followed by the second corrective zigzag wave with about 50% fibo retracement. 

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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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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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Nzdcad The Long Term Correction Upside Is Not Over - trading signals in forex

Nzdcad The Long Term Correction Upside Is Not Over ~ trading signals in forex

The weekly chart above shows the activities of price from 0.6908 to 0.9675 and back to 0.8111. Price is in a long term bullish move. The rally is corrective and is projected to continue to 1.0861. Quite long...huh?

The projected corrective pattern is a double zigzag .

The recent dip in the 4hr chart below is a double zigzag correction which is projected to end at 0.8895-0.8750 before the rally continues.















If price advances and breaks above 0.899, there will be a good buying opportunity.

Price can alternatively, as shown in the 15min chart below, dip further to 0.88 regions and it will be good to look for buying signals
























You can watch the video of this analysis below






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Eurcad Long Term Analysis - forex time trading machine review

Eurcad Long Term Analysis ~ forex time trading machine review

Hello folks.
Check the analytical charts below to grasp my view on Eurcad analysis for the short term and long term.

As price brings more data...I will update you

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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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Gold Update Still maintaining bullish correction - etrade forex trading reviews

Gold Update Still maintaining bullish correction ~ etrade forex trading reviews

On 11th November,I posted an analysis on Gold here.

 I wrote about the end of the first impulsive move that broke the long term weekly     ( wave 4 ) corrective triangle. I labelled this impulsive move on the intraday chart as the first wave of wave 5 ( to complete the long term bearish trend).

Gold reacted to the end of the impulsive move and look ready for the correction properly. 

Presently, price is consolidating in a triangle corrective pattern and if it manages to break out of it, we should see further intra day rally for another 300pips before the bearish trend continues. 

A break below this triangle will call for an alternative count. We should be ready to flow with the price and with what help can we do that better?....If not elliot wave analysis.

I will keep an update as price advances

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Is Usdcad prepared to resume the Uptrend - forex trading courses in singapore reviews

Is Usdcad prepared to resume the Uptrend ~ forex trading courses in singapore reviews

I have been able to follow this pair nicely since July 6 when I predicted a powerful long term bullish move. Price was resting on the bear sides along the way and , each time it did, never failed to resume the bullish move.

Recently, on 5th october, I predicted a medium term correction after a perceived overbought. Price reacted as well and went down considerably with good profit         (already closed 80% of my position). 

You can take your time to read all my posts on Usdcad from July 6 to understand what I am talking about.

As we know, that a good trader or speculator doesnt stick to his thought about the movement of the market. He rather is flexible and adjust as price unfolds more information, and he reacts accordingly. He is less proactive and more reactive to price information. He reacts to what is happening and not what could happen.
 
A vivid look on this pair showed me that the recent bearish move we saw in Usdcad is a zigzag correction and price could resume the fifth wave to complete the 3rd wave of the larger uptrend.

Let me start with the weekly chart

What we are having is a motion and uncompleted  wave 5. By projection, it should end at the zone painted blue which is a confluence of equality ratio(wave 1 = wave 5) and 61.8% retracement of the last bearish trend. Price could be on its way to fulfill  this projection

Going by the 4H chart, a break above the wave 4 upper channel combined with a good bullish momentum should push price to 1.1364 which will be my first target if I decide to buy. 

On the other hand, if price is held there and turn down I could be on my way to reach my final target on the bearish note before thinking bullish.

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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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AudJpy May Continue Downside - top forex trading signals provider

AudJpy May Continue Downside ~ top forex trading signals provider

We have been watching the long term historical activities of this pair for some time now but waiting for the right moment to follow the bearish trend move.

The move from 55.23 (in year 2000) to 108.275 ( in year 2007) was a clear 5-wave impulse (as illustrated in the chart below).

After such a move, one would expect a 3-wave correction (according to elliot wave theory). The corrections, though varying and complex in nature, are easy to spot.

The good thing about trading the elliot wave theory is that short term opportunities can be spotted within a large time frame and still following all the rules and guidelines of the wave theory. One can forecast a long term market move and trade clear patterns in the direction of the trend.

From 108.275 to 54.91 wave w ( a 3-wave decline) and back to wave x at 105.4 (a 3-wave rally), one can anticipate a double zigzag decline in labelled (W,X,Y in blue) which could end at 55 price level or below.

How can we take advantage of this forecast?, we can go to a lower time frame and read wave theory and price activities using combinations of technical tools.

The decline from 103.46 has completed the first leg of a double zigzag pattern and now correcting to 91.2 region. We expect price to be contained below 91.27 below the falling trendline. There is so much fibonacci ratios converging in that region. We expect it to be strong enough to keep the correction exhausted.

If there is a short opportunity below 91.27, a good ride could happen as we follow price decline further to 71.86

Lets alert you of any trading opportunity we spot.
You can send your E-mail address to Forexmaster05@yahoo.com for high probability forex signals. 

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