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Impulsive

Elliott Wave Analysis: Bulls Temporarily Slowing Down On AUDUSDAUDUSD is unfolding a bigger bullish leg, with three bigger sub-waves already completed. We now see price making a three wave pullback into the wave four position of that bullish structure, with potential support coming in with Fib. supports at 0.7880-0.7900 area. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
by ew-forecast
Elliott Wave Analysis: FLAT On AUDNZD Looks CompletedWe see AUDNZD completing a potential flat correction within a bigger wave 2 with recently touched resistance zone, which can push prices lower. A flat correction is an elliott wave pattern, which consists out of three waves, with a formation of a 3-3-5. This means wave a and b have both three legs and wave c has five. Thats said, hopefully this pattern is now completed and more weakness will follow. A five wave drop will indicate a change in trend. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
by ew-forecast
6
Can DAX Join A US Stocks "Mania Cycle" ?Good day traders! German Dax and S&P500 are in negative correction for the last few weeks; with US market trading at all-time high while DAX lost nearly 7% since June 20th high. Technically we see US markets entering into bullish mania phase with DJIA breaking above the upper trendline of an EW channel. We may see fifth wave rally to continue up to 24000-25000. Mania cycle is also confirmed by Charles Schwab reports that clients opened the highest number of brokerage accounts in the first half of 2017 since 2000 as highlighted in article by ZeroHedge. Keep in mind that from 2000 peak DJIA lost nearly 40% in two years and S&P500 fell nearly 50%. However, I don’t think that top is near yet, as EW model appears incomplete; it suggests more upside in coming months. So if we go back to DAX and US markets correlation, I think that Dax can see more upside and join the mania phase as well while DJIA is trading towards projected levels. In fact Dax came down in three waves to fill gap around 12000, which can prove out to be a good support area. Break above the upper channel resistance line can be an important evidence that European and US markets are going back into positive correlation. Higher DAX should also impact the EURUSD moves.
OANDA:DE30EUR
by ew-forecast
Elliott Wave Analysis: EURAUD and AUDNZD ViewEURAUD is making a nice leg up in the last 48 hours which has impulsive qualities to the upside. It can be a new change in trend to a bullish mode, so it can be good set-up after a three wave retracement next week. But somehow I like AUDNZD shorts more rather than EURAUD longs, and reason is because EURUSD is trading close to resistance where sell-off can impact EURAUD as well. AUDNZD will be on my radar screen after a bounce up in wave 2. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
by ew-forecast
10 Year US Notes Looking Lower10Year US notes can be trading at the start of a new bearish leg, after a completion of a higher degree complex correction within blue wave IV. Current sharp reversal was quite expected, as price formed an ending diagonal pattern within the final wave (C) of IV, which usually suggests a sharp reversal after its completion. That said current weakness can now represent red wave (1), part of a bigger bearish leg that can unfold in weeks to come. More weakness is now expected on the 10 year us notes, but be aware corrections will pop up during the process, and the first one can already be minor wave 4 of (1). Ending diagonal An ending diagonal is a special type of pattern that occurs at times when the preceding move has gone too far too fast, as Elliott put it. A very small percentage of ending diagonals appear in the C wave position of A-B- C formations. In double or triple threes, they appear only as the final “C” wave. In all cases, they are found at the termination points of larger patterns, indicating exhaustion of the larger movement. structure is 3-3-3-3-3 a wedge shape within two converging lines wave 4 must trade into a territory of a wave 1 appears primarily in the fifth wave position, in the C wave position of A-B- C and in double or triple threes as the final “C” wave Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
CBOT:ZN1!
by ew-forecast
1
EURAUD Trading Near Potential Turning PointsEURAUD just reached some potential resistance zones, which can offer some bearish pressure and push prices lower. If that were the case, then we would expect a five wave move lower to develop early next week and ideally breach below the previous swing low of wave B at 1.4875 level. That said another indication for more weakness would also be a breach below the lower channel line. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
by ew-forecast
2
GBPUSD Trading In A Temporary Correction; More Upside In ViewGBPUSD can be slowing down for a three-wave pullback, which we see it as a higher degree wave B). As we can see sub-waves A and B are already completed, meaning current intra-day weakness can represent wave C. Ideally wave C will search for support around the Fibonacci ratios of 38.2/61.8, before making a new rally towards higher levels. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
by ew-forecast
USDCAD Looking Lower Good morning traders. We are entering day by day in to the summer trading environment where liquidity is starting to be limited. Stocks are still sideways in US except Nasdaq and DAX which made a nice move lower last week. Todays calendar starts with BOE Carney soon and US ISM employment numbers later. Let's start with USDCAD. USDCAD is now trading in a correction of a lower degree, specifically in wave iv with a potential turning point lower around the 1.3042 level. Ideally we will see a new breach lower from the mentioned region. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
by ew-forecast
2
BTCUSD Trading In A Correction; Downside Can Be LimitedBTCUSD may unfold a more slow and choppy movement in the next couple of trading sessions as we see a corrective phase in action. We see red wave A completed with three waves and also wave B. Current weakness can now be red wave C, that can search for a base around the 1854 level. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
BITSTAMP:BTCUSD
by ew-forecast
1
GBPUSD Impulsive MoveThe GBPUSD is setup for an Impulsive Move DOWN to the next level of previous Support, possibly two. I have been trading this channel as it becomes more defined, and it is now at the TOP of the DOWN-Channel poised for another down move, probably an IMPULSIVE MOVE as it has been so far as Price approaches the top of the down-trend. I watch this area closely for a potential Up-Move and repeat of the Flagpole which led into the Highs on this chart, by usine a close STOP on each DownMove and a REVERSAL above the STOP should it quickly take off towards the top, reperating the initail FLAGPOLE UP. Happy Trades everyone!
Short
by Melchizedek
Catching IMPULSIVE MovesIMPULSIVE MOVES: Catching those FAST MOVING Price moves can be challenging, but there is an easy way to see them coming. FIRST: Check the Monthly, Weekly and Daily charts for TRENDS and draw bracketing lines, parallel if possible, on both sides of the major price action which leads into the current Price. Always paying most attention to WHERE the current Price is WITHIN the larger trend, find all the prior trends on the smaller time-scales that are WITHIN the larger longer time-frame trends, and notice that BREAK-Outs of price usually lead into these "consolidation zones" and also lead OUT of them too. So what I want to do is bracket each consolidation zone, or Price channel, and if possible with a HORIZONTAL bracket, because it is easier to place STOP LIMIT ORDERS which bracket the small trend to catch the BREAK OUT. Spend several minutes seeing if you can find ALL of the IMPULSE moves on the following charts, and try to bracket the consolidation zone that is BETWEEN the IMPULSE MOVES. Odds are they are each nice Price channels.
by Melchizedek
Elliott Wave Analysis: USDJPY Trading In A Temporary CorrectionUSDJPY made a nice bullish structure from 14th of June, which has ideally ended two days ago. If that is the case, then we now see a three wave consolidation in progress, with waves a) and b) completed and current intra-day weakness can be wave c) of two in motion. Current leg c) can see limited downside around the area of a former wave iv) at 110.64 or around the Fibonacci ratios of 50.0 or 61.8, from where a new bounce higher may later follow. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
by ew-forecast
5
Lisk Cryptocurrency Temporary Slowing down Within A CorrectionAs we can see Lisk is trading bullish since March of 2017, and can be now trading within the final stages of a fourth wave correction. On the 1h chart we can see a triangle correction in the making, with recent price activity unfolding as a sub-wave E, final leg of a triangle. If that is the case, then more gain may follow on the virtual currency. A confirmation point of view for more gains would be a breach above the wave D and B swings. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
L
by ew-forecast
Is USDJPY Headed Higher? Good day everyone! In today's post I want to take a look at USDJPY more closely which I believe has some very interesting pattern unfolding since last week. What really caught my eye is that move up from 108.80 area that occurred for a second time from that important »Gap Zone« made in April. These gaps will normally act like a magnet to be filled, and once they are a new turn may occur. And this is exactly what we see on 4h chart. In fact, bounce occurred very aggressive from 108.80 last week and took out a channel resistance line connected from 114.37. Normally that’s indication of a change in trend, so I expect higher USDJPY especially if we consider the Elliott Wave look which shows a potential completion of a corrective set-back from May high. Reason for a bullish view is also an impulsive bounce on hourly chart which shows nice zone of support for this week around 110.00-110.50 zone. Trade well, GH
by ew-forecast
6
EURUSD Trading In A Temporary Correction; More Weakness In ViewEURUSD made a strong and sharp reversal away from 1.1295 level where we labeled top for a higher degree wave C. As such recent break lower could suggest that bulls are completed and that bears are taking over. If that is the case, then even more weakness may unfold on the pair. On that note, we see current intra-day activity as an unfolding corrective move, that can find its resistance and a potential turning point lower around the area of the previous wave 4 at 1.1228 and near the Fibonacci ratios of 38.2/61.8. A five wave fall will later suggest that recovery is completed and more weakness is in play. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
by ew-forecast
Maybe It's Time For The BTCUSD To Correct BTCUSD Daily look is showing us a potentially completed five wave rise with current weakness representing the start of a three-wave corrective phase. If that is the case, then a three wave A-B-C decline is in view for the virtual currency that can extend towards the previous wing low of wave 4 at 1850 level. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
BITSTAMP:BTCUSD
by ew-forecast
6
NZDJPY Can See A Reversal Lower In The Near-termNZDJPY touched 80.00 area which may be a very interesting resistance right into the FOMC event. We also see a structure of an ending diagonal in wave five of C so ideally price will turn down soon. But as always I like to wait on a confirming price action, which in our case would be an impulsive decline and close beneath 78.91 area. In such case we would start looking lower for aggressive weakness. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
by ew-forecast
Elliott Wave Analysis: BTCUSD Can Be Trading In Final Wave FiveBitcoin is unfolding an impulsive pattern to the upside, which means that red wave 4 correction has ended around the 1800 mark. We now see a five wave impulsive movement which unfolded in black wave 3 and found a top near the 3000 level. Wave 3 can so be completed and recent pullback could represent black wave 4 correction. That said, if wave 4 correction is completed then we can expect a new recovery to follow into the final black wave 5. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
BITSTAMP:BTCUSD
by ew-forecast
12
GBPUSD Trading Sharply Lower; More Weakness Could Show UpCable fell sharply to the downside last week which has been technically expected after we identified a bounce up into a corrective wave 2 with limited upside near 1.2960-1.3000 as highlighted in past updates. A decline was very strong from there, so it may be only a start of wave 3 that can be headed to much lower levels, possibly even to 1.2450 for wave three of three. On the other-hand rise back above 1.2900 will likely suggest that decline from May highs was just a temporary correction. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
by ew-forecast
GOLD Is Trading Within A Temporary CorrectionGold turned sharply lower then past week from 1295; clearly in impulsive fashion so it appears that metal is headed into much deeper levels within a correction of a higher degree. On the updated chart we are looking at A)-B)-C) decline in progress down to 1258 area, or possibly even back to 1245 before market may look for a new bounce; most-likely at the end of the month. Disclosure: Please be informed that information we provide is NOT atrading recommendation or investment advice. All our work is for educational purposes only.
OANDA:XAUUSD
by ew-forecast
9