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A pull back in a longer downtrend for JPN.IDX

Jignesh Publicado 20 Abr como análisis en JPN.IDX/JPY, Objetivo: 18010, Fecha: 1 de Junio, 12:00 GMT  en #Technical analysis #JPY #Japan #Equities #Channel #Retracement #Pullback #Elliottwave #Jpn IDX/JPY
The JPN.IDX is in a longer term down trend, that started in the first week of August 2015. However, the instrument caught a bid at it's 200 Weekly SMA. As well, smaller time frames suggest a bullish correction is already under way, which has potential to last throughout the Month of May.
Levels
15794 - Jan Spike Low
16340 - Jan lowest Daily close & early Feb Daily spike highs
17290 - March Highs
17871 - Jan Highs
18260 - End of 2015 Daily close
The chart below is a monthly chart showing the leve…
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Jignesh avatar
Jignesh 5 May

Ahead of the start of May, we already saw the pull back in the bullish trend.  The BOJ, which had given a signal to the market that it would likely intervene in the markets, in a surprise move, did not do anything.  It acted as a catalyst for a sell off against the proposed bullish trend.  As we approach the bottom of the channel, we will be looking for a bounce over the next week, to hold the channel intact and affirm the bullish trend.

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NZDUSD Scalp setup to start the week

Jignesh Publicado 2 Ago  en #Trader's blog #Nzdusd #Elliottwave
The NZDUSD outlook in the larger time cycles is starting to look very constructive. It has managed to break out of its daily downside Channel. In the short term however, there is a clear wave count and setup in the pair for a quick scalp at the week's open.
Here is the 1 min chart Wave count
As per the chart, it has already finished an ABC correction down, and technically there is no need for further downside. However, as the EURUSD and most other pairs are calling from some USD strength, and it…
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Daily Fractal Pattern suggest further downside in August

Jignesh Publicado 31 Jul como análisis en GBP/USD, Objetivo: 1.5158, Fecha: 1 de Septiembre, 12:00 GMT  en #Technical analysis #GBP/USD #Support #Trendline #Gbpusd #Fibonacci #Reistance #Elliottwave
The GBPUSD has been quite bullish since bottoming mid April. As of late, however, the pair has been struggling to make any significant weekly advances.
There is a pattern that has already been seen on the daily chart, that has now appeared in fractal form on the 4H chart. On the daily it marked a point of turn in price, and the expectation will be the same for 4H, which can trigger further bearish price action in the month of August.
Levels
1.5690 - July 29 Spike high ** Key resistance and patte…
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WallStreet6 avatar
WallStreet6 2 Ago

I'm also anticipating the cable turning into bearish trend, but first I thought it was going to appreciate.  But maybe you're right that the bullish sentiment is running out.

Jignesh avatar
Jignesh 2 Ago

I agree WallStreet6 .. I've been long this pair for over 3 weeks now.  Was expecting a lot more upside than we've seen.  Looking for an pullback towards resistance early week and then the bearish trend to start.  A break above recent highs would invalidate my wave count.

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Jignesh 7 Ago

This week we've had 2 big moves in the GBPUSD. First was after a weaker than expected MPC Vote, it triggered a nice selloff in the pair, and then surprisingly today after a weak NFP number, it caused another sell off.  Currently we are trading at the daily trendline, which has provided some support for the pair.  Will be looking to see if the pair catches a bounce here, before it continues selling off next week.

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NZDCAD to resume it's bearish trend

Jignesh Publicado 31 Jul como análisis en NZD/CAD, Objetivo: 0.8240, Fecha: 1 de Septiembre, 12:00 GMT  en #Technical analysis #Resistance #NZD/CAD #Bearish Signs #Channel #Downtrend #Suport #Elliottwave #Nzdcad
This Analysis is a continuation from the April technical analysis submission.
The same wave count is still valid, and the downtrend has not completed as of yet. The Gartley pattern has played, but the count suggests the down trend will continue.
Levels
0.89495 - Daily Support/Resistance
0.86990 - Major Resistance - First half 2013 & Support 2014
0.84209 - Gartley pattern and weekly support
0.82059 - Weekly Previous Support
0.81140 - Weekly Previous Support
The below chart was what was posted in …
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Trade Idea - EURHKD Nears Support Confluence

Jignesh Publicado 1 Jul  en #Trader's blog #Support #Fibonacci Levels #Elliottwave #Eurhkd
The larger term view point in the EUR pairs in general certainly has a bearish outlook, but focusing on the price action to start the week, we can see that the leg to the upside carried strong momentum.
In Elliott Wave, moves in the market are usually classified in 3 or 5 waves, which provides reason to believe another leg higher to a deeper retracement can be seen before bearish momentum resumes.
The 4H chart of EURHKD shows the pair near the 61.8% Fibonacci level, just ahead of spike support s…
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EURUSD 1H Wave Count & Outlook for the Day

Jignesh Publicado 11 Jun  en #Trader's blog #Eurusd #Wave Count #Elliottwave
EURUSD started the week off with a strong bullish move, but mid week we have seen seller start to sell into the pair as the outlook here is we may be trading in a bit of a range as long as highs at 1.1450 are not breached.
The current wave count here shows that there is a strong possibility we can do one more high. This would be the "stop run" that will take out weak shorts who have placed stops above 1.1400
The count hints at a subdivided C wave, a pattern that tends to occur when a wave struct…
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EURUSD 15M Wave count & Outlook for the open

Jignesh Publicado 6 Jun  en #Trader's blog #Eurusd #Elliottwave
The EURUSD Continued it's sell off after a strong jobs number drove the USD higher.
Below is the 15m wave count. It calls for one more leg lower to complete wave y before a correction can occur. Invalidation for this count comes in at 1.1137 - a breach above that price invalidates the view.
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NZDJPY Bearish below 89.80 - Area for downtrend to resume

Jignesh Publicado 28 May  en #Trader's blog #Fibonacci Levels #Elliottwave #Nzdjpy
The NZDJPY has been bearish for the last month, ever since the RBNZ surprised the markets with their intentions of cutting rates in the future, while it was largely expected they would continue in their hike schedule.
The current 4H wave count in the pair shows a cycle to the downside has completed and we are in a new wave structure. The current retracement at 89.90 is holding the price to the downside, and this is an area where we can see the downtrend resume.
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AUDUSD Near Support Confluence

Jignesh Publicado 19 May  en #Trader's blog #Trendline #Audusd #Fibonacci Levels #Elliottwave
The AUDUSD had a bearish move on the back of a statement from the RBA in early trading.
The pair dipped down to support in the form of a rising trendline on the 1 hour charts, as well as the 50% retracement of the last leg down. This area has already shown signs of buying and can be an area where we see the pair turn bullish once again.
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AUDUSD 1H Trendline on the verge of breaking

Jignesh Publicado 11 May  en #Trader's blog #Support #Resistance #Trendline #Fibonacci #Channel #Elliottwave
The AUDUSD has recently shown a major channel break on it's 4H chart, suggesting a further bearish continuation.
The chart below shows the break, as well as an Elliott Wave count that suggests the structure from 02 April Lows has been completed
So far, we can see that after a brief channel break, the pair came back up to retest the 76.4% Fibonacci Level and has once again broken lower. As well, we can see another retest of the bottom of the channel which was also met with a bearish rejection.
Wi…
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