USD / JPY. My previous prediction was correct. Formation of five waves up has already occurred. Thus, the price is really back in the blue trend. Now it completed the formation of correction of the wave A just formated wave B. It is expected the formation of C, in the correction, and the head and shoulders pattern.
GBP/USD is the same forecast. At the same timea small corrective movement upward from the level of 23.6 is completed.
Formation of wave 5. At the same time, perhaps testing the upper boundary of the uptrend.
picture is not clear. can you up large pixel pic so that we can understand clearly. thanx
EU shows willingness to decline further. Recall that now W1 can be seen within the framework of the consolidation of the rectangle. At the same time, growth is possible and within the framework of the current uptrend. If there is a decline, then I suggest to such a model of the five-wave Elliott with the action of the Fib levels.
The forecast on UJ. We can see that now the wave 5 and is likely to further decline to the level of 61.8. At the same time, now the price stops at the support level of 109,319. Thus, the second scenario could also be as a rebound from this level and rise to 110,605.
If I opened a buy position, my take profit would stand at 110,605. stop loss below 109,319. If I had opened a Sell position, then take profit - 61.8 Fib level, stop loss - 109,830.
This is an example of how I would analyze the market at the moment.
The forecast on GBP / USD. Now comes the formation of wave 3, in this case, it is possible to further the formation of waves 4 and 5 (In this case, the wave 5 will reach 23.6), but possibly rebound from the lower border of the trend and increase resistance to 38.2
watching this thread, i hope i can learn something from your journal
Hi DenForex,
I see that you are trading big positions. I suppose it is in full lots? Is there no problem with filling your orders at the price you want?
Forecast GPB / USD. We see an opportunity to touch and test the level of 1.44700. It is also possible the continuation of formation of a wave 5, given that the ox 4 is completed.
Prediction E / U. There is a version of events, as I wrote earlier, this movement within the rectangle. This means that we can expect the fall and the formation of Elliott waves.
But, according to the upward trend, the price is now touched the lower border. This means that growth is possible, according to the trend (blue line)
good thread
was a bad minus with a stop loss. I expect USD / JPY fall to the support level of 105,836. Today, things are better. I used the NFP and earned the expectation that the price will rebound from the support level of the lower border of the trend.
Forecast on USD / JPY. Now there is no apparent answer, which will move the price. She is on the verge of supporting 106,480, below which it is hardly going right now. therefore, likely to rebound from this line. But as we know, the level may have a width, so this rebound may occur, both now and in a couple of days. Therefore, there are two versions of events. Keep in mind that the price is now at 23.6 Fib, is the level of a possible turn up. You can also see the possibility of formation of 4 and 5 and only after that, to achieve the level of resistance of 105,830.
What about GU We see that the correction is over, after the formation of 5-wave and the end of wave 1 and possibly 2.
At the same time, you can now expect growth within wave 3 - 4 - 5 to the resistance level of 1.47200. Thereafter - forming correction.
You can assume that the price will rebound from 1.46140 within the figure’s head and shoulders.
