New Update on Gbpchf Gbpyen Audusd Xauusd andEurcad - forex mirror trading reviews

New Update on Gbpchf Gbpyen Audusd Xauusd andEurcad ~ forex mirror trading reviews

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Video Analysis on Gbpchf Xauusd and Audusd - mti forex trading reviews

Video Analysis on Gbpchf Xauusd and Audusd ~ mti forex trading reviews

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UsdCad Is Overbought - forex knights trading room reviews

UsdCad Is Overbought ~ forex knights trading room reviews

Nothing interests me in this market more than seeing a pattern I recognise. On 6th July ,I speculated a long term upward move of this pair ( Read Here ) .

The bullish move that started on the aforementioned date is looking set to complete a nice impulsive 5 non-overlapping waves on the H4 time frame and Im expecting a dip before price continues the long term bullish trend.

Presently, price has hit a strong resistance at 1.1275 with overbought and divergence signals on Macd and Stochastic respectively, its not bad to think bearish, at least for intra-day moves.

I still maintain a general bullish bias but the bears could take a shot which could be profitable. Targets are 1.1025 ( 38.2 % retracement) and 1.0950 ( 50% retracement)

I will wait for a candlestick bearish reversal formation before embarking on the journey.

Conversely, if price broke 1.1275 in high momentum, then the impulsive move is not yet completed and more price candles will help to verify the next action.

Updates to come. Dont be far

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A New Look at Gold - knowledge to action forex trading reviews

A New Look at Gold ~ knowledge to action forex trading reviews

On October 2, I was wondering if Gold was going to have a free ride down after breaking out of a triangle corrective pattern formed on W1 and another triangle on the intra day broken out after the US non farm payroll report (Read the story here). 

I was expecting a pull back and then a bearish candlestick engulfing, but price went back to the triangle it once broken, giving me a reason to re-analyse. 

After spending some time, I saw price bringing out a new picture- a bullish picture!

With a new look at the weekly chart, I saw that price is bouncing off the support line of the triangle after it formed the fourth (a-b-c) zigzag wave to resume a resume the last (a-b-c) corrective move ( triangles move in five corrective wave before completion) which should move close to the upper line of the W1 triangle.

With divergence and momentum oversold at this region, it could well be a good thought- we have a chance.

On the daily chart, I see a completion of a 5-wave impulsive move that completed the fourth wave I mentioned above clearly: and with divergence,channel support and momentum oversold, the bulls are preparing to take the golden initiative

If the bulls are taking over, I will expecting a (5-3-5) upward move to the roof of the W1 chart.

As price adds more, we get its intention more clearly.

Im here to update you, so dont be far

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A new look at Cadchf - day trading forex live reviews

A new look at Cadchf ~ day trading forex live reviews

Before I start,please take time to read my last post on this pair (click here).

Price broke the triangle I talked about and went back immediately giving me no real chance of buying.

The congestion is not looking over yet as we have price moving up and down to form a larger triangle.

As price adds up to itself, we ask ourselves, are we still in line?. Being able to follow price and allowing it to connect with us is very important. Thats why I chose elliot waves analysis as my primary tool.

With what price came up with of recent, it shows clearly that the first corrective wave ( wave 2) of wave 5 of the impulsive moves ( in blue) is about to be completed as a triangle corrective pattern. 

If this is anything to go by, we expect the price to break the upper line of the triangle for an explosive move upside. I will wait for a chance to buy at the break to target 0.8810.

Conversely, if price breaks the triangle downwards, what we will be having is a complex correction or temporary change in trend which requires more studies and patience.

Either way, price determines where it goes and we just have to understand him and follow. We should see a real action next week.

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