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GBPUSD Correction Phase Expected After The Bearish Impulse MoveGBPUSD has been trading in a bearish trend for a long time now and its safe to say as we broke the 1.14010 low. But on the 4 hour timeframe we saw a complete clear impulse move which all guidelines are not violated so we can possible expect a correction to the upside in this case I wouldn't suggest an impulse move up as we realise overall we are in a strong downtrend by simply looking at market structure every time we saw a bit of pullback it didn't last it was followed by a strong bearish move this move is not any exception. Well it can be any corrective move but we can at least expect a zig-zag as its very common. The idea is long term we are still bearish but we can take advantage of short term pullback moves.
Long
by Weshareio
1
EURGBP and XAUUSD ForecastXAUUSD Analysis The possibility of GOLD to buy are slightly high, but we do have to look at the old low which can be used as an invalidation level as waves 1 and 2 are never equal. We could potentially see price rally we reached the 78.6 Fibonacci golden zone. And the recent down wave looks to be corrective than impulsive. EURGBP Analysis The upside is potentially over as the impulse move pattern looks complete wave 1 and 4 are equal, waves 1 and 4 not overlapped. Chances are we will soon see price unfold as correction pattern( corrective phase).
by Weshareio
1
CADJPY and EURUSD Forex Market ForecastEURUSD Analysis The euro has been weakening for a while trading to an old time low in years. From a Technical view we are most likely to see pullbacks in the upside direction how long they will take it hard to tell now but considering that we can have short term opportunities. Looking at previous pullbacks we can see it doesn't last forever in Elliott Wave Theory terms we can consider it to be correction( 2nd wave or 4th wave). It would be wise to be optimistic about the downside as its still in tact. EURUSD and XAUUSD situation aren't any different as the pullbacks are have great correlation, the time it took may be different but we have a clue. Waiting for a bit of pullback in the downside direction to form the 2nd or B wave before the next rally. The retracement level that price will reach can be quite tricky but keeping in mind of the 4 golden zones( 38.2, 50, 61.8 and 78.6/76.8) but its always better to look at the fractals or sub-waves as it can give us a clear idea of where price will call it a bottom. CADJPY Analysis Price has been moving bullish for while now I would consider this to be an impulse(1-2-3-4-5 sequence) formation waves 1 and 4 are still in gaming. "Waves 1 and 4 never overlaps" we can use that idea to be able to trade wave 5 comfortably knowing where our stops are at. The deeper the pullback the more increase in R/R.
Long
by Weshareio
ETHUSD / NAS100 Bullish ForecastNAS100 We are trading in a bullish trend overall but on a smaller scale we will see fractals which in this case is an impulse move. We are trading at a 4th wave phase soon we sill see wave 5 completes soon before seeing the bigger pullback. Whether the 4th wave will move from the 38,2% Fibonacci level or the 50% its hard to tell but either way that doesn't dismiss the bullish idea we know that waves 1 and 4 never overlaps therefore we know where the invalidation is. ETHUSD Crypto currencies are all at discounted prices its more likely we will see then rise in value. From a technical view ETHUSD is trading in an impulse move similarly to NAS100 we are expecting a 5th wave completion.
BINANCE:ETHUSDLong
by Weshareio
XAUUSD / GBPUSD ForecastGBPUSD Price is trading sideways as a corrective pattern which is a contractive bearish Triangle. On the bigger degree we are in a wave 4 phase and looking to complete the wave 5 phase. We have to see the wave E complete before seeing the next drop. XAUUSD We have an impulse sequence unfolding on the bearish direction. Waves 1 and 4 not overlapped and we are looking for a wave 5 completion. The wave 4 could be potentially be completed and we can soon see a drop.
Short
by Weshareio
1
NZDUSD Alternative Count Wave C/3 ?Recently we saw a Diagonal pattern structure, which in this case its double sided based on what the market is showing us now. The push up could be in a Zig-Zag correction pattern form suggesting we will see a sell-off to make a new low, then the second count suggest that the bullishness will still continue. From a Wednesday the USD will gain strength what this means for AUDUSD is that we will sell-off the question is how long will it decline? Whats your views? we will make a new low. we have to continue moving up.
by Weshareio
XAUUSD Short-term Sell-side Direction / Wave 5 Ending DiagonalXAUUSD is in a bullish sequence (impulse pattern) the pattern is valid as wave 3 is not the shortest wave and waves 1 and 4 not overlapped. Wave 5 is an Ending Contracting Diagonal pattern most likely we see a sell-off soon. Its gonna be hard to tell how deep the downside will last when considering trading the 1 and 4 hour but lower timeframe can offer good trading setup. Waves 2 are not reliable like a flat correction a better way would obviously waiting for a the pullback then look for the 3rd wave on the bullish side the downside do has some opportunities on the lower timeframes.
OANDA:XAUUSDShort
by Weshareio
2
USD|JPY Technical Analysis - Multi Timeframe AnalysisThe USDJPY has trading bullish for years now and it's safe to say the bullish direction is still intact. From a different timeframes analysis, we are in a bullish trend, note what may be true on the higher timeframe may be opposite on lower timeframes. On the monthly timeframe we can say we are in an impulse move and also a correction up applies. From a fundamental analysis in the long term we are trading bullish but technical analysis suggests a short-term pullback.
Short
by Weshareio
CADJPY Wave 5 Completion / Elliott Wave AnalysisTechnical analysis is a useful tool to help us pre-determine market direction before hand. We are in a wave 5 phase of Elliott Wave Theory impulse move. Impulse moves are very easy to understand and are very basic if you talk about Elliott Wave people think of impulses, waves 1 and 4 never overlaps wave 3 never the shortest. To confirm this is an impulse move we have to see price complete the fifth wave, note there are cases where we have a wave 5 truncation ( wave 5 failure) not often but possible. We have to be watching the fifth wave structure we 1-2-3-4-5 sequence either impulse or diagonals.
Long
by Weshareio
ETHUSD 8H Bearish Alternative AnalysisETHUSD trading on a downtrend for quite some time now we recently saw a reversal as an impulse move. We have two different alternative counts but particularly in the same direction which would be the downside of a wave 2 correction. Both counts are valid and make sense as they do not violate any guidelines/rules of Elliott Wave Theory. One count suggesting the upside is over and we soon need to see a decline and the other suggesting we still need to see price rally to complete the 5th wave before seeing drop for the second wave on the blue degree.
BITSTAMP:ETHUSDShort
by Weshareio
S&P500 Bullish Impulse Pattern | Wave 4 PullbackSPX is trading in an impulse move similarly to the Nas100 on the 4 Hour timeframe. Things we know about an impulse move is that wave 1 and 4 never overlaps therefore we can use that idea as an invalidation level for the pattern. Trading the pullback can be tricky considering the timeframe we are at and also the phase but on a lower timeframe like 5 to 15 minutes can be decent personally I don't prefer trading the A wave waiting for a C wave is better, but note the main bias is bullish in general.
OANDA:SPX500USDLong
by Weshareio
DXY Where Are We Heading Next?The dollar index is critical from a technical analysis point of view. We have two possible directions as always from the market to pick from. Our systems are bout to help us predict the right direction. But there certain cases where we see both directions as valid based on our systems this case is not any different. Bullish Scenario We recently had an A-B-C correction down which could occur at any phase but either way that doesn't change the fact that corrections are always followed by a pullback to the opposite direction from the direction of the correction pattern itself. Bearish Scenario We have a possible leading diagonal pattern formation suggesting that we will still continue moving in the downside direction. This means we have to make a new low in this case. Which is Which, what's your take? Share Your Outlooks
TVC:DXY
by Weshareio