USDCAD: Buying the dips using the Elliott wave Theory

USDCAD 18 October 4 Hour

The Elliott wave theory was developed in the 1930’s and in the theory, the main idea is that the market advances in five waves and corrects in three waves. Since 1930’s, the world has changed a lot now we have computers and we can see multiple instruments and we can measure momentum and many other tools. When the theory was developed, we didn't have any of these tools and consequently it was developed just based on the charts of few instruments due to the inability of the time and the lack of … [Read more...]

USDCAD: Buying the dips based on incomplete Elliott wave sequence

USDCAD 18 October 4 Hour

In this technical blog we are going to take a look at $USDCAD October 18th 2016, 4 hour chart. In which pair was showing incomplete Elliott wave bullish sequence from May 3rd 2016 lows (1.2460) showing higher highs & higher lows. Hence, the strategy was to buy the dips in sequence of 3, 7 or 11 swings for further upside in the pair against August 18 low (1.2759) for potential upside target at 1.35-1.3675 area. Thus the 4 hour chart from October 18th suggest that pair was correcting the cycle … [Read more...]

$EURAUD forecasting the path & selling the rallies

EA 1

On August 10th $EURAUD broke the previous low from April 21st @1.4425 , making the bearish cycle from the Febrtary peak still alive. Our Elliott Wave analysis suggested for at least another big swing lower below 1.44037 low, so we recommend our members to avoid buying the pair and keep selling the rallies against the 1.56456 peak. In this technical blog we're going to take a quick look at past Medium-term EURAUD charts presented to clients of www.elliottwave-forecast.com to see how we guided our … [Read more...]

$NZDUSD Elliott Waves forecasting the decline

nzd1

At the begining of September 2016 $NZDUSD reached daily extreme area at 0.7389-0.7557 and our view was suggesting potential pull back in 3 waves against the January 20th low at least. The pair found sellers at the mentioned technical area and made top on September 7th ( 0.74882 peak) and since then it traded lower. In this technical blog we're going to take a quick look at past h1 EWF's charts of NZDUSD, to see how we guide our members through this currency pair. $NZDUSD Weekend Update … [Read more...]

$EURJPY Live Trading Room Setup from 9/6

EURJPY Setup

We issued a scalping short order for $EURJPY at market on Sep 6 Live Trading Room. We took profit on Sep 7 for a +95 pips profit. Each day in Live Trading Room, members attending the session will receive a similar trading journal like the one below The short clip below from our Live Trading Room on September 6 provides the setup for $EURJPY short trade. We have a solid system to minimize the risk and protect position when trade is going our way. Check out Live Trading Room daily starting … [Read more...]