Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Elliot Wave Analysis by Admiral Markets
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Admiral Markets Group, post: 127708, member: 37217"] EUR/USD Setups Downtrend Channel within Bearish Wave 1-2 EUR/USD 4 hour [IMG]https://s11.postimg.org/9i2s688ab/12-05-2017eu4.png[/IMG] The EUR/USD is in a mini bearish trend channel which is marked by trend lines (red/green). Once wave 1 is completed, the EUR/USD could start a bullish retracement that challenges the Fibonacci resistance levels of wave 2. 1 hour [IMG]https://s10.postimg.org/4swbj6fmx/12-05-2017eu1.png[/IMG] The EUR/USD break above or below the bearish channel (green/red) will indicate whether price will continue as part of the wave 5 (blue) of wave 1 (brown) or whether price will potentially retrace within wave 2 (brown). USD/JPY 4 hour [IMG]https://s10.postimg.org/93o68nszt/12-05-2017uj4.png[/IMG] The USD/JPY is approaching the support trend line (blue) of the uptrend channel (blue/resistance). A bearish break could start a larger bearish correction where as a bullish bounce could extend the 5th wave (brown). 1 hour [IMG]https://s15.postimg.org/s5k9k2pfv/12-05-2017uj1.png[/IMG] The USD/JPY wave count will depend on whether price bounces at or breaks through the support trend line (blue). A bounce could indicate that a wave 4 (grey) is still uncompleted. A break means that wave 4 and 5 (grey) are finished. GBP/USD 4 hour [IMG]https://s9.postimg.org/3y2isl2rz/12-05-2017gu4.png[/IMG] The GBP/USD is challenging the support (green) line of the bullish channel (red/green). A bearish break could see a larger retracement or reversal whereas a bullish bounce could see price challenge resistance again. 1 hour [IMG]https://s8.postimg.org/u88hmejgl/12-05-2017gu1.png[/IMG] The GBP/USD needs to break above the resistance levels (red/orange) before a continuation is likely. A break below support (blue) could start a bearish reversal and continuation of 5 waves (blue). Follow [URL='https://twitter.com/ChrisSvorcik']@ChrisSvorcik[/URL] on twitter for latest market updates. Connect with [URL='https://www.facebook.com/profile.php?id=100009628491889']Chris Svorcik[/URL] on Facebook for latest market updates. [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…