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NZD/CAD Reversal Pattern

Daytrader21 Przesłano 14 Wrz jako Analiza NZD/CAD, Cel: 0.8745, Data: 3 z Listopad, 12:00 GMT  w #Technical analysis #Support #Resistance #Reversal Pattern #NZD/CAD #Channel #Bearish Trend
NZD/CAD is turning from an bullish trend into a bearish trend after we succeed in breaking the upward channel (see Figure 1) Since mid-2013 we have moved in and consistent upward channel and at the same time bullish trend. But we have turned back after we broke away from this channel and current price structure of this down wave looks very stepper signaling the bears are in control and we should expect further downside movement.
Figure 1. NZD/CAD Weekly Chart

From the w…
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Daytrader21 avatar
Daytrader21 1 Lis

Update 5: As expected this past week we had another sell off an retest the 0.8700 support level without the market to be able to close below it. Right now we're only 21 pips away from our target and based on intraday charts in the first few hours of Monday we should expect the market to trade between 0.8730-8770 so there is a high chance to hit our target or at least move even closer to it.

bharatholsa avatar
bharatholsa 5 Lis

congrats - well done ))

Jignesh avatar
Jignesh 5 Lis

Nicely Done!

foreignexchange avatar
foreignexchange 7 Lis

Congrats, good job

Daytrader21 avatar
Daytrader21 7 Lis

Thanks guys:)

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AUD/CHF - ABC Correction

Daytrader21 Przesłano 16 Sie jako Analiza AUD/CHF, Cel: 0.8427, Data: 1 z Październik, 12:00 GMT  w #Technical analysis #Elliott Wave #Correction #AUD/CHF #Bearish Trend #Range Trading Boxes
There is no surprise as AUD/CHF has been moving in a tight congestion zone as we're still in consolidation. Based on Elliott Wave since mid-2012 we have been moving in a consistent bearish trend(see Figure 1) and now since we established the 0.7700 swing low, we're correcting this 5 wave cycle, We're still in the earlier stage of this correction as after 5 wave down we need an ABC correction to the upside and we only managed to put in place wave A so there is still more behind this movement, but…
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Daytrader21 30 Sie

Update 2: Current price structure has changed as we broke and close above the psychological round number 0.8500. This only means wave A is overextended and also on the daily basis we're overbought so we still can expect a three wave down to complete wave B of the larger correction

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Daytrader21 6 Wrz

Update 3: It seems Wave B has formed a flat and this is the reason why we haven't seen any sell off towards 0.8300 but instead we broke above wave A swing level at 0.8550 and we are currently developing wave C. My prediction is still correct as we indeed move higher but my timing was wrong

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Daytrader21 13 Wrz

Update 4: It seems the move towards the 0.8700 was a false move as we already consumed all the rally and are back down. This only proves that wave B is also developing a three wave move. For next 0.8300 level should provide a good support level and also a rebound see image attached for more reference.

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Daytrader21 20 Wrz

Update 5: The market has established a defined ranging zone between 0.8490 resistance zone and 0.8360 support level, and in the next week I'll be looking for the market to trade between this 2 levels as currently the market is developing wave b of B so there is a high chance for our target to be hit as currently we're only 36 pips away from my target.

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Daytrader21 27 Wrz

Update 6: Although we retested our 0.8300 support level the fact that we couldn't have a weekly close below that level suggest the bears are weak and we can expect a rebound next week. There is not much resistance underway up until the round number 0.8400 level

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Nikkei 225 Will Revive Yen Bearish Trend?

Daytrader21 Przesłąno 4 Sie  w #Trader's blog #Yen #USD/JPY #Bullish #Bearish Trend #Nikkei 225 #Credit Markets
The Japanese stock market index Nikkei 225 is signaling that we may be on the verge of resuming current bullish trend (see Figure 1)and this may revive the Yen bearish trend.
If you're trading only the Forex Exchange market don't make the mistake of not watching others market for more clues, like the equity market or the Credit market which are having a big impact on forex exchange fluctuations. The world is much more complex and everything is interconnected so that's the reason why we'll have a…
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2 Komentarze
Neu_spir8 avatar
Neu_spir8 5 Sie

Good morning pal, nice analysis, the pair on a solid Daily & Weekly Gann angle support  at the time being, we had a weekly close above it suggesting a test to weekly Resistance at least to 103.40-60, Fibo expansion 61.8% if not 104.30 100%, today, we should see a 4H candle close above 102.70 to make it true, all the best.

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Daytrader21 5 Sie

Neu_spir8 As long as we stay above 102 current up swing leg is intact. Thanks for your insights.

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AUD/NZD Near Multi Decade Support Level (part 2)

Daytrader21 Przesłano 15 Maj jako Analiza AUD/NZD, Cel: 1.0670, Data: 1 z Lipiec, 12:00 GMT  w #Technical analysis #AUD/NZD #Elliott Wave #Bearish Trend #Round Number #Bullish Flag
AUD/NZD is approaching a multi decade support level at 1.0400 which I think will provide some good trading opportunities. In Figure 1 you can see the weekly chart and the strong sell of from the past few months. Since April 2013 after we broke the psychological level of 1.2100 big round number the downward momentum accelerate and we barely see any kind of retracement.
Figure 1. AUD/NZD Weekly Chart
The five wave cycle has been completed and now we have entered in a tight congestion zone wh…
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5 Komentarze
Omela avatar
Omela 17 Maj

it is perfectly!)

Daytrader21 avatar
Daytrader21 24 Maj

Update 1: So far so good it seems that for now we're heading lower and developing wave D as per my prediction. There is not much support underway until previous swing low at 1.0650 so we should expect price following the line of least resistance for now which is down

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Daytrader21 18 Cze

Update 2: The breakout above the 1.0900 level was a false one as momentum couldn't keep up and we're back into the range. It seems that wave C has not ended there and instead took shape of an 3 wave correction abc. Now wave D is under developing and there is only one thing that stand between reaching our target which is the previous swing low at 1.0750 and we need a daily close below it for further downside movement

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Daytrader21 22 Cze

Update 3: So far previous swing low 1.0750 has been providing some support but the fact that we're not seeing any kind of reaction is reason enough to consider that we may as well break below that level and complete a 3 wave to the downside and reach our target at around 1.0670

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Daytrader21 28 Cze

Update 4: We finally broke below last swing low at 1.0750 and from here on we should see momentum start building to the downside and reach our target. Based on Elliott Wave projection we should end the wave D around our target and above previous swing low at 1.0640

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Aussie Final Stage of Correction

Daytrader21 Przesłano 15 Maj jako Analiza AUD/USD, Cel: 0.9220, Data: 1 z Lipiec, 12:00 GMT  w #Technical analysis #AUD/USD #Aussie #Correlation #Gold #Elliott Wave #Correction #Bearish Trend
Since beginning of last year aussie has completed a five wave cycle to the downside and right now is correcting that cycle which is still in the earlier stage as we only manage to complete wave A, we need wave B to go at least to 50% fib retracement of wave A but at the same time it can go as low as previous swing low but without breaking that point in order for our analysis to be correct.
In Figure 1 is the AUD/USD daily chart which shows the Elliott Wave count and future projections. Right now…
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4 Komentarze
Daytrader21 avatar
Daytrader21 24 Maj

Update 1: Aussie has been following this prediction to the pip we already sold of and we should see now price consolidating between 0.9200-0.9300 in the coming months as the Gold Fractal is suggesting

Daytrader21 avatar
Daytrader21 9 Cze

Update 2: The current rally is just wave x of a much larger correction WXY. Based on Elliot wave we should expect further consolidation between 0.9400 and 0.9200 as the 1 month implied volatility is hitting new lows  we should see the range getting tighter.

Daytrader21 avatar
Daytrader21 18 Cze

Update 3: It seems we where right from previous update as 0.9400 has acted as strong resistance and now we are heading to develop the final price structure of this correction. Wave X has ended at 0.9430 and now we must develop a flat or a 3 wave down movement. We need a break and a close below 0.9300 strong support level before any downside pressure to persist.

Daytrader21 avatar
Daytrader21 22 Cze

Update 4: the reaction we have seen from 0.9300 level is a corrective move based on price structure and we should see momentum start piking up to the downside from here on as we couldn't broke previous swing high at 0.9430 which suggest this upside move is very weak.

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