Elliot waves analystπŸ“ˆπŸ“‰
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Remember if you don't practice like this you will never learn elliottwave
XAUUSD (GOLD) .. I think since we are expecting bullish pressure ,the correction phase of this sequence should never take too much time . I think this correction is enough so am looking for buying opportunities to target wave 5 high or higher
XAGUSD (SILEVR ) 4H ... unlike gold this pair was in a great impulsive move with price currently trading on wave (4) . I think the correction phase is far from over and we might see another bearish leg to complete a correction wave (4) then price to start pushing for the final wave (5)
So what is next on GOLD ..I have two possible scenarios here
XAUUSD 1H ... (scenarion A ) price should continue the bullish trend and this bearish correction is just a correction move so we should see price keep trading up
XAUUSD 1H ( scenario B) ... in this scenario we have already completed the bullish move and price should start the bearish trend . This is my alternative count Incase the first scenario doesn't work
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Okey lets crank up the difficulty ... EURUSD has 3 very high probability setups . How will you rank them
EURUSD 1H .. (SCENARIO A ). Price is most likely creating a more complex WXYXZ pattern and we should see price create one leg higher then we should see the bearish drop happening
EURUSD 1H (SCENARIO B ) wave 5 is in motion with price creating a sub-wave I and its subsequent correction sub-wave ii , so we should seen price trade higher for sub-wave iii as the bullish trend is still in motion
EURUSD 1H (SCENARIO C ) we have a truncated wave 5 so the bullish trend has ended so from now we should start seeing bearish drop energetic low
Befor you pick which scenario is going where look at you larger timeframe analysis from 1 week down to the 4h and see where price is mostly likely going to go
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USDCAD 1H . Price will most likely keep trading higher as we are still trading the final wave 5
Forwarded from elliot wave anlyst
Put a Sell stop order onEURUSD @1.17468 STOP ;1.17529 TP 1;1.17241 TP 2 ;1.17170 LOOK @ SCENARIO C on public channel
That's WAS 1:5 RR ...this is why I think trading elliottwave on lower timeframe is better than swing trading . You get two of these you pass you challenges . And we have been getting these type of setups at least 3 per week on our VIP
GBPUSD 1H .. LOOk FOR SELLING opportunities ( NOT MORE THAN 35 PIPS) as price is trying to hunt for the final wave (5)