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USD/CHF Elliott Wave Count

The broad base dollar strength across the board has manage to change the bearish sentiment on this pair and since beginning of this summer USD/CHF has been trading in an steady bullish trend. Based on Elliott Wave count (see Figure 1) we still have much to go to the upside before to complete a five wave sequence. We have just completed wave III and wave IV is ready to develop a corrective phase before another upward leg to take place and complete the five wave sequence.
Figure 1. US
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Daytrader21 2014年10月19日

Update 1: Wave IV has been deepening below the 0.9450 level however this doesn't change much the price structure and we're on track for further consolidation as usually based on Elliott Wave during wave IV we should expect and ABC correction or some type of consolidation.

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Daytrader21 2014年11月15日

Update 2: Since we took out the previous swing high at 0.9685 and made a new high this means that the wave IV has ended and wave V is currently developing. This final wave can take shape of another 5 wave of smaller degree. Support remains at 0.9500 big round number which is also the 50% retracement of last up leg from 0.9370 low. Key resistance remains 0.9700

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Daytrader21 2014年11月22日

Update 3: As expected last week we couldn't break below 0.9500 big round number and neither break above 0.9700 as the market has closed near that level. Although we haven't succeed breaking and closing above 0.9700 the momentum is still to the upside and next week we should expect the up trend to resume. For next week 0.9660 is the support level and we should expect a break above previous swing high 0.9740 and beyond.

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GBPCHF Stuck In Trading Range For Now

GBP/CHF like the most swiss pairs have been going nowhere since SNB step into the market we have been stuck into a big range. We have establish the range between 1.5480 high and 1.3800 low, an 680 pips range. we can been seen that for the most part we have been staying at the lower level of this range comparing it with the times we have visited the high of the range. From figure 1 it can been seen that we have multiple touch of support and only one touch of resistance. This multiple rejection of…
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Daytrader21 2014年05月07日

Update 2: As expected 1.4870 resistance level capped the market and by they shape of price action structure this can be wave 2 of wave III of C. Usually wave 3 is the longest wave based on Elliot wave and we should see momentum start accelerating after 1.4870 resistance level will be broken and turned in support. 

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Daytrader21 2014年05月17日

Update 3: We're on our way to hit the my target with only 50 pips to go. You can see how after we broke the 1.4870 the market never looked back. From here on 1.5000 should provide a good support zone amd should limit any downside movement

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Daytrader21 2014年05月24日

Update 4: We have hit again our target making a double top here. But there is a high change to consolidate here between 1.5080 resistance zone and 1.4980 support zone. This move has already run his curse so she need to take some breath.

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Daytrader21 2014年05月31日

Update 5: As expected from my previous update we had a reaction from the 1.2080 and we indeed consolidate around 1.5000 big round number. The daily range has also become more tight between 1.5030-1.4990 usually Monday is not a day where we can expect big breakouts and most likely we should stay in this tight congestion zone, for now we're only 20 pips away from my target so anything is possible.

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Daytrader21 2014年06月02日

Update 6: As expected we have move within some tight congestion zones between 1.5040 resistance zone and 1.5000 big round number and support zone for this pair. My prediction had a deviation of just 6 pips from my target which is quite an accurate prediction. From here on we should see momentum start picking up as long as the 1.5000 support level holds.

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Major Advance Could Occur in the Cable

I don't know how many of you are aware the GBPUSD is on the verge to make/or not make a big advance in price. The weekly chart displays a possible bullish triangle (see Figure 1)which recently was broken to the upside. If we manage to close above 1.6350, on a weekly basis, there is a high probability that cable will see a dramatic upside movement. However the most important point is the last swing high 1.6738 which is a critical point in order for cable to experience a really big move. Since the…
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Yami 2013年12月11日

Good Luck Bro :)

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