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40 GOLDEN RULES of TRADE by the "POWERFUL TRADERS". continuation>>>>>

CONTINUATION >>>
36) Hope on the main Trend, but don’t forget to tie a stoploss.
37) Think like a Marketmaker, but enter to the market as a scalper.
38) The market often moves on opposite way, despite fundamental analysis and economical reality.
39) The market moves between probable and improbable issues.
40) All participants are equal to the market! The market is cruel and doesn’t recognize the authorities.
Please take a note - Trading is always a risk. We wish everyone a successful trading! Do…
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EUR/CAD Elliott Wave Count

EUR/CAD has been trading to the downside since beginning of the last year when we put in place the major swing high at 1.5600. Based on Elliott Wave cycle we're in the last stage of this sell of, as currently the market is developing of 3 of V. Each impulsive wave is composed by another 5 wave of smaller degree and we can count this wave both in wave III and now in wave V. Expecting wave 3 of V to end at 1.2900 or 1.300 big round number before to see a minor retracement or at least some conso
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Update 1: I think wave 3 of V has just completed and with the daily bearish outside bar posted on Friday, we can see a retest of 1.3400 (see red line Figure 2) to complete wave 4 of V. Support for next week should be at previous week's low 1.300 big round number.

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Update 2: Wave number 4 of V is completed and 1.3600 should be the top. First we need a break and a close below the big round number 1.3500 for further downside movement. Right now we're in the final stage before the Elliott Wave sequence is completed. We need one more low below the big round number 1.3000

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Update 3. As expect it seems that the 1.3600 level is now a swing high in place after a second rejection of that level. However we need a break below 1.3400 the most recent swing point in order to expect more downside pressure. Resistance stands at 1.3600-1.3550 price should be trading lower from around this levels

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Update 4: Right now the market is in a wide range between 1.3700 resistance level and 1.3400 support level, we need a break and a daily close below that support level for the market to gain more downside momentum.

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Elliott Wave Course 03: Impulsive Wave [Projections And Targets]

Lesson 3: Impulsive Wave [Projections And Targets]
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Elliott Wave Course 02: Impulsive Wave

Lesson 2: Impulsive Wave
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USD/CHF Large Range Key Reversal

Since latest SNB intervention in the market from around 2 years ago USD/CHF have been trading in a big range zone from a high of 0.9970 to a low of 0.8890, an wide 1080 pips range zone. Based on Elliott Wave theory we can easily see that this contracting range over the last 2 years has form a triangle that conforms the requirement of 5 waves based on Elliott Wave analysis. Based on this I see the last deep towards the 0.8890 low, labeled E in Figure1 as the last corre…
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Update 1: The market is already giving us signs of topping around 0.9250 as momentum slowed down. This is the first wave of a new five wave sequence to the upside, from here on the market could retrace back all the way down until 0.8900 swing low point or our second option is for the market to correct only half way at 50% fib retracement level of previous level at 0.9065

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Update 2. As predicted we have just entered in the stage of developing wave 2, but we still have to break below 0.9080 support level which was quite a strong support level in the last days. But that fact that this level was retested for so many times suggest that at some point in time it will become weaker and we can break below it.

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Update 3: As I said in my previous update the market has indeed broke below 0.9080 support level. Right now the market is in an retracement mode and I'm still expecting lower level before wave B is completed, next support level is around 0.8950 from where we should expect the market momentum to pick up

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Update 4: Based on Elliot wave theory wave 2 can often retrace till the start point of wave 1 which in our case is 0.8890 but in order for our forecast to be validated this swing low point must hold, expecting this week momentum to pick up. Next resistance level where the market may find some problems on the way back up are the following levels:08980 and 0.9040 if we manage to break and close above it than we may see our target hit

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Update 5: Because we broke below wave E and 0.8900 level it may suggest that this is an irregular triangle, but next week is key, if we manage to close back again above 0.8900 it will show us if this downside break is a genuine break or is a false breakout

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