Stocks fell sharply on Friday at the session close after profit taking and position adjustments for month-end. S&P Futures accelerated lower about we warned you earlier that day with bearish wave count and H&S pattern that was also pointing lower at the time. Market is now beneath important hourly trend-line that could cause more weakness in this week, towards 1620 and even 1605.

S&P Futures 1h…

Gbp/Usd is in a flat correction, there will be possible reversal zones to short this pair as follow:

1) 1.5160 : c=a (100% expansion of wave a)

2) 1.5220 : 38.2% Fibonacci and  daily resistance

3) 1.5285 : 50% Fibonacci

Personally, I believe 1.5220 will provide good selling entry. But my recommendation is to…

Morning traders,

USD is showing some bullish intra-day swings this morning, but at the moment it’s still hard to tell if corrections (up on EURUSD, GBPUSD, down on USDCHF,…) already finished or not. We however have few charts here that are pointing for stronger USD in this week. Firstly we will take a look at the S&P Futures where we can see sharp impulse down, followed by a slow recover which we think its corrective movement. Resistance region is near, so be aware of a reversal…

Aud.Jpy is on the path as mentioned on yesterday comment. Things are on the way to hit our 1st target @ 97, we can have second target 96.50 – 96.20 area. my recommendation is to book 80% @ 97 and leave 20% for 96.20. If you are in both trades, your avg entry will be 100.325, and so you should have more than 332 pips in profit @ 97.…

Gbp.Usd started it’s correction of wave 2. Yesterday rally can be consider as first larger part of wave A, and in smaller timeframe, this can be W. Reason for considering my A-B-C count is primary is the channel. If price break channel with huge volume and heavy price action, I will consider the impulse count. But in same case and having less confidence factor, impulse count is still valid in form of nested count. Invalidation point of nested count is low of wave…

GBP/USD is well followed a path mentioned on my weekly count.

I believe, GBP/USD is now completed it’s pattern and looking for pull back here, I am building my long here. There are few reason for going long which are as follow:

• It’s having daily support @ 1.5025
• RSI already diverged
• Volume…

After having my last post on Usd.Cad, pair is trading in series of impulse waves to complete it’s wave Y. Expected target zone for wave Y is 1.0798. Pair will pause here soon on weekly resistance. RSI also start diverging. I expect pair will be in flat correction for wave iv of [3].

Recommendation: 

Long 1/2 @  1.0233; 1/2 @ 1.02150…

Aud/Jpy is in final stage of it’s triangle formation. Once pattern is complete, a person can expect a sharp thrust off towards it’s initial target of previous wave 4. For more details of target, kindly visit my previous posts. 

Recommendation: short can be build up slowly here

• 100.85 – ⅓ position…

GBPUSD reversed sharply lower in the last few days with a daily close price beneath the lower side of a corrective channel which is an important sign for a completed rally since mid-March. In fact, decline from 1.5590 is looking sharp so we think it represents an impulsive formation which occurs in the direction of a primary trend. As such, we think GBPUSD will continue to weaken in days maybe even weeks ahead. Break of wave B) key level at 1.5195 will be next important evidence for a larger…

Aud/Usd broken it’s bearish trend-line in 60min chart, while in 240min chart, it’s complete it’s ending diagonal pattern, as a part of wave v of wave [3].

I am expecting pull back here, we are looking for possible target zone in wave [4] as follow:

1) 1.0027 – 23.6% Fibonacci Target

2) 1.0085-1.0095 –…

GBP/USD is forming the bullish setup as mentioned on my earlier post.So Keeping that in mind, we require to have see 1.5700-1.5750 in coming days. Pair already confirmed the bullish idea by breaking the channel out and can label as described in below image. Any long should have stop loss @ 1.5465

On alternate idea, we can expect a flat correction, but the probability of flat correction is very…

I change label little bit from impulse wave to corrective wave, but path is still down. Once we complete wave B, aud/usd can set for lower. Any short should have protective stop loss @ 1.0370. Current price is testing the 38.2% Fibonacci level along with upper boundary of the channel. So, there are chances that, aud/usd can reverse from here, or from 50% @ 1.027 area.

 …

Current price is not bearish at all, at least on my primary count. We might see price trading above 1.56 area. On Alternate idea, we might be in wave 1 of first impulse leg down. But that too is not completed, We only can identified 3 waves. So here is the game plan for gbp/usd.

Case 1: Trading for wave 5 (Primary) Bullish Setup

we will wait…

Gbp/Usd current price might be part of flat correction of wave 4, and expecting another high above 1.5605 before it having sell off. I booked 29 pips profit and decided to see the reaction here. There are chances on which, pound can drop to 1.52 from current price. But on 240 min, chart, there were no impulse action found. and only way I can count is flat correction.

On NFP day, there were sell off happen,…

The AUD once again fell across the board after the RBA cut its benchmark rate by 0.25% to 2.75%. This was not officially expected, but speculators were already looking lower ahead of the decision based on latest poor economic data in Australia. Technicals were also pointing for weaker AUD and once again they were right, fundamentals just a catalyst. AUDUSD is looking bearish now on the intra-day basis with possible extension down to 1.0150 as day progresses, but 1.0220/50 must not be…

Aud/Usd is bearish and should stay under 1.0220. Our first target met here, and still looking lower under @ 1.01. Risk can be lowered down here on top of wave [2].

Written by: ewTrading.wordpress.com…

AUDUSD reversed perfectly lower from 1.0380/1.0400 resistance region that we have been focusing on last week with our members. Notice that market made a very sharp fall from that level, clearly in impulsive fashion through the lower line of a corrective channel that has been tested as a resistance on Friday after the NFP report. We believe that was just a sharp corrective retracement, labeled as wave (ii) that is part of incomplete bearish cycles. With that said, we think that AUDUSD will…

AUDUSD reversed perfectly lower from 1.0380/1.0400 resistance region that I have been focusing on few days back. Notice that market made a very sharp fall from that level, clearly in impulsive fashion through the lower line of a corrective channel yesterday. Thats a very nice signal for a continuation of a larger trend which is clearly bearish on AUDUSD from early April high. Ideally, pair is now moving into a third wave that could extend even down to 1.0100. Any near-term bounce should…

As per last update, we are in the targeted zone. A zone start from 1.5580 to 1.5620 area. 1.5580 is strong resistance on chart while, 1.5616 is a=c in wave y. I am keeping my sell trigger on, and as soon as I can see reversal pattern on 240 min chart / daily chart, short can be initiated with stop at latest high, 1st target can be 1.52, while second target can be well below 1.48.

Also, started looking for…

My primary view is bearish on pound.

Monthly chart showing five down from 1.6380 after broken weekly uptrend line. That wave can be counted as wave A of ZigZag correction or wave 1 of large impulse move. As chart is on monthly bases, I still not prefer to count them into impulsive manner, rather can be counted as a swing. And so, my preferred count would be the zigzag correction. As part of zigzag…