gold (XAUUSD) daily Analysis.
This is the our main wave count as we expect price to remain in the correction phase untill the end of the year
GBPCAD .. WE Expect this pair to start a bearish push next week as we are trading wave III. Price may still push upward but as long as it doesn't trade above the start of wave I and make a new higher high we are still on a bearish bias and we will keep looking for selling opportunities
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WE HAVE ALOT OF PAIRS TODAY SO THERE WILL BE FEW EXPLANATION
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USDJPY 4H ..... Current price is completing wave C of this running flat on wave 2 . this correction wave 2 has slightly passed the 61.8 Fibonacci level which raises some concerns but as long as price doesn't trade above our invalidation level we are good. So we are currently looking for selling opportunities to trade wave 3
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GBPAUD 4H. This pair has the highest probably of going up at the moment as we are trading on wave (3).so we expect to keep seeing bullish push above 195800 price
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GBPCHF:.
at the moment from the larger timeframe to the 4h price has totally switched it's look from bullish potential wave 3 to a continuation in the bearish direction so we are going to trade as such . Once the market opens on Monday our main focus will be looking for selling opportunities for the final wave V .
AUDUSD DAILY AND 6H .
We are still bullish on the larger timeframe untill price on wave 2trades below wave 1. So the logical count here is the correction on wave 2 is creating a sideways movement (flat pattern) which as you can seen on 6h chart we expect to complete an impulsive move on final wave C before we start to buy again
EURJPY 6h ... There is a regular flat on wave 4 of this pair which has corrected wave 3 to the 61.8 Fibonacci level . At this point selling this pair is the most likely scenario as the probability that this pair is bearish is minimum consider how deep the correction was
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USDCHF 4h ... IT turns out we were forming a flat pattern here on wave IV . Since we have identified which type of formation has formed on wave IV it should be easy for us to trade for wave IV
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GBPUSD WEEKLY .. this is a triangle on weekly chart , since we are currently on a correction phase this explains the rough wave motion we are having on this pair. Buying this pir now is the most ideal way to trade this pair until we get a big correction to the down side
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CADCHF DAILY ... A clean bearish trend . This trend should continue as we are still on the third wave
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USDCAD daily .... price has been correcting for about a year now so we expect if price breaks to the upside it will remain bullish for longer than a year
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EURNZD ..... Am convinced that price is going to go up right now as this wave C has completed the zigzag correction pattern to the 61.8 which is enough correction for this wave 2 .
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GBPCAD ... since our count on the larger timeframe suggest we are trading on wave (C) ,this bullish push is just a correction on wave II which should facilitate a bearish move next week . The invalidation level will remain above the start of wave I .
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Similar to EURUSD, GBPUSD also has two man alternative as potrayed by the color of the arows. We may have completed the correction and price will be going up . This is the first scenario which is presented by a black arrow. But another alternative is wave C hasn't ended so we will see some bearish push as price will be trading wave III of C wave . This scenario is presented by red arrow
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CADJPY 4H: since we were trading on wave {4} we know price has to go up ,so i strongly think that price has formed a truncated wave C which should force price to go up and complete wave {5}.so our invalidation level will be below wave c as below that our count would be wrong
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NIFTY 1H .. nifty 50 has presented a buying opportunity early next week when the market open as we have an impulsive drive with a correction wave which has corrected the impulsive move to the 61.8 Fibonacci level . So we will be looking to buy as the market opens
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Hello guys i hope you all had a great trading week .... The following are next week watchlists
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CADCHF : 4H ....
Similar to USDCHF , CADCHF also is in wave 4 and it is Also creating a zigzag correction so we are looking for selling opportunities
XAGUSD (SILVER ) 4h .. similar to gold analysis , silver also is on wave IV but unlike gold which we had a zigzag on wave Iv, here on silver we are having a running flat . So since everything is moving papendicular we wont have problem looking for buying opportunities here on silver also
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