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Doublezigzag

US Sugar futures ( SB1!) - stay short for bearish outlookUS Sugar futures ( SB1!) has completed ABC zigzag as the part of Y wave, as mentioned in previous updates. The total sequence is WXY as double zigzag, which is well known in Elliott wave theory and mostly seen in commodities and currencies. In last updates, we already posted the bull set up for buy a C wave, Now its over. stay short in B wave up at around 12.73-81 with stops above 12.97 for target range of 12.25 as support zone or lower too. make sure that B wave is not too sharp before entering the trade set up.
ICEUS:SB1!Short
by EWFcw
Silver | Short | Elliott Wave Analysis | Jeremy WagnerSilver is camped on top of the 78.6% retracement level -- this level is rooted within the fibonacci sequence and is considered the retracement of last resort. The up trend from March breaks down as a double zigzag in Elliott Wave terms, this is a corrective structure implying that the whole trend is likely to be retraced at some point in the future. I prefer break out trades in these scenarios...let the market tell you when it is ready to move in the direction you think it will. In the break out scenario, the stop loss would go just above the swing high. If silver bumps higher over the next couple days then the stop would go above that high if the breakdown would occur. If interested in more Elliott wave analysis, let me know. Cheers!
OANDA:XAGUSDShort
by JWagnerFXTrader
11
ORBEX: EURGBP - Ready to Take Break-even Stops Lower?EURGBP could move a tad lower to complete intermediate wave 2 near 0.8480 before continuing higher. The said level is the 100% FE of the first minute degree zig-zag and could be duplicated as minor X was somewhat dominant. Look for a valid reversal above last zig-zag's minute b wave but expect minute c to complete first. Minute c should be truncated to support this outlook, otherwise, fresh lows can be expected. Should prices move below minute a low the complex minor W,X,Y pattern could come to an end. Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice.
Short
by Orbex
Short-term bearish countI came up with three counts all lead to bearish potential a red impulse followed by a triangle correction a red impulse followed by a blue combination (w)-(x)-(y) where wave (y) is a triangle a red impulse followed by an orange double zigzag (w)-(x)-(y) correction, where wave (x) is a triangle a solid close below red wave (d) low at 0.73482 would favor the red count any immediate close above wave (c) high at 0.74643 would likely to suggest more complex correction is underway
by wsbza