Elliot waves analystπŸ“ˆπŸ“‰
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I hope you all have a great weekend . The following are next week watchlist
GBPJPY 4h . The trend hasn't ended at all, with price trading on wave 4 . We should continue trading wave for on Monday maybe on Tuesday also but price should continue bullish mid week trading for wave (5)
NZDUSD 4H .. this pair and all other USD colarated pairs should be trading the correction wave next week . So avoid swing trade unless the correction has ended on the 50% fibonacci level
AUDUSD 4H . Similar to NZDUSD we are entering the correction phase next week
USDCAD 4H ... this pair is bearish and I think next week it should remain bearish as wave (5) is extended . Now since the most highprobabidty trades will be shorts I would advice caution whenever price moves up as we the price is already oversold
USDCHF ... 4h .. price her should complete wave c before we get a good selling opportunity
USDJPY . This paIr has been in the sideways correction for months now and this is why you see I post shorter timeframe opportunities . So we will continue doing so until price makes a break through out of this range .( avoid trading markets that are ranging unless u know what ur doing)
BTCUSD ... I don't like swing trading in this pair due to how the outside liquidity (people with money and who can enter the market at anytime ) are so influenced my fundamental and fear so I prefer trading day trades . But we should see price continue the bullish trend next week
GOLD (XAUUSD) . This pair Is most likely in a correction phase . But we w will consider the trend over after price breaks the trend line channel
Here's my count . again the pair is still heavy bearish by all metrics but price itself is showing bullish pressure so we will stick to price foe now
GBPUSD 1D
GBPUSD 4H ... so this pair and EURUSD are all bullish .but this pair has already shown its willingness to trade higher, we should see great buying and hold opportunities once price completes the correction phase
That's all from me . I hope you all have a greet trading week . If your have nay questions feel free to ask @mwakasole
XAGUSD 1H ... today is Monday we are not trading any significant moves we ar just feeling the market . our initial analysis is that the correction phase has completed with this wave (c) of an irregular flat . Now we are looking for buying possibilities but price might extend the wave 5 of wave (5) even lower
Why buy at that particular price .... Case study 1 for this week
USDCAD .. I made a mistake her price wasn't forming a WXY but a simple zigzag