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AUD/CAD Elliott Wave Analysis.

Daytrader21 Posted 18 Oct. as Analysis on AUD/CAD, Target: 0.9336, Date: 1st of December, 12:00 GMT  in #Technical analysis #AUD/CAD #Consolidation #Elliott Wave #Zig Zag Pattern
Based on the Elliott Wave analysis AUD/CAD is headed much more lower (see Figure 1). We're in a very complex corrective pattern which suggest lower prices in the weeks and months ahead.Right now we're forming a double zig-zag pattern of lesser degree which is based on the wave X connector of higher degree which should end near the 50 fib retracement at around the 0.8000 big round number.
Major Levels to watch:
…
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Daytrader21 25 Oct.

Update 1: We're still below the big psychological number 0.9500 as we weren't able to have a weekly close above this level suggesting the bears may still be in control. For coming week that level should provide resistance and to the downside the first level of support comes at 0.9400 where price can see a pause before going further down

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Daytrader21 2 Nov.

Update 2: After another retest of the 0.9500 resistance level we finally got a strong reaction and sold off again retesting the 0.9300 support level. We can't rule out a retest of the 50% fib retracement from the 0.9580 highs before to continue lower again.

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Daytrader21 9 Nov.

Update 3: It seems that the market has established a new range zone. This range zone is much more narrowed between 0.9300 support level and 0.9445 resistance level. Until we can get a break and a daily close above either of this two levels we're stuck inside this range and there is no clear direction.

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Daytrader21 15 Nov.

Update 4: We broke above the 0.9445 pivot point and resistance level but the big round number and psychological figure 0.9500 has been proving a much more better resistance level as we weren't able to post a weekly close above that level. For the coming week we should see 0.9500 act as resistance and we should see a retest of 0.9400 and lower.

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AUD/CAD Elliott Wave Count

Daytrader21 Posted 15 Aug. as Analysis on AUD/CAD, Target: 0.9344, Date: 1st of October, 12:00 GMT  in #Technical analysis #AUD/CAD #Elliot Wave #Psychological Number #Zig Zag Pattern #Fibonacci Level
Based on the Elliott Wave analysis AUD/CAD is headed much more lower (see Figure 1). We're in a very complex corrective pattern which suggest lower price in the weeks and months ahead.Right now we're forming a double zig-zag pattern of lesser degree which is based on the wave X connector of higher degree which should end near the 50 fib retracement at around the 0.8000 big round number.
Major Levels to watch:
[list][/list]…
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Daytrader21 30 Sep.

Update 5: Right now we have retested the resistance level at 0.9380 but we have gone up until the round number 0.9400 and beyond, however if we can't get a daily close above this level we can turn back and retest support level at 0.9320.

WallStreet6 avatar
WallStreet6 30 Sep.

Great forecast! One day to go and less than 100 pips away. It can still get closer! Too bad the Aussie came back above 0.70. I was also anticipating further depreciation of the Aussie.

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Daytrader21 30 Sep.

Update 6: As expected we close below the round number 0.9400 as well as below key resistance level 0.9380. Currently we're trading only 16 pips away from my target and tomorrow trading range looks straight forward as we have resistance at 0.9380 which I'm expect to be retested and from there to be heading down towards support level of 0.9320. My forecast price is right in the middle at 0.9344

WallStreet6 avatar
WallStreet6 30 Sep.

This is really close to your target. You should make a nice win with this one. Good Luck!

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Joe_Vulcan 15 Oct.

Elliot waves are the most accurate forecast tools. Can't live without them.

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AUD/CAD Elliott Wave Analysis

Daytrader21 Posted 30 June as Analysis on AUD/CAD, Target: 0.9520, Date: 3rd of August, 12:00 GMT  in #Technical analysis #AUD/CAD #Elliott Wave #Psychological Number #Zig Zag Pattern #Fibonacci Level
Based on the Elliott Wave analysis AUD/CAD is headed much more lower (see Figure 1). We're in a very complex corrective pattern which suggest lower price in the weeks and months ahead.Right now we're forming a double zig-zag pattern of lesser degree which is based on the wave X connector of higher degree which should end near the 50 fib retracement at around the 0.8000 big round number.
Major Levels to watch:
[list][/list]…
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Daytrader21 15 July

Update 2: This morning we have just touched our target at 0.9520. However this may be just a false breakout  as we're still moving inside a range zone between 0.8400 support zone and 0.8500 big figure and resistance zone

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Daytrader21 19 July

Update 3: This pair has found resistance at 0.9620 but the fact that we couldn't break and close below the big round number 0.9500 it can suggest that we can see another retest of current high at around the 0.9600 level before to resume down and heading back towards our target at 0.9520

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Daytrader21 26 July

Update 4: We're still trapped inside a wide range between 0.9400 support level and 0.9630 resistance level. Last week sell of stopped right at big round number 0.9500 and we couldn't break below it, this means we should see another attempt to retest previous high at 0.9600 before moving down again.

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WallStreet6 1 Aug.

great use of Elliot's waves and Fibonacci- my fav instruments!

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Mariia 2 Aug.

good analysis Daytrader21

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AUD/CAD New Trend in the Making

Daytrader21 Posted 30 May as Analysis on AUD/CAD, Target: 0.9245, Date: 1st of July, 12:00 GMT  in #Technical analysis #AUD/CAD #Audcad #Elliott Wave #Psychological Number #Zig Zag Pattern #Fibonacci Level
Based on the Elliott Wave analysis AUD/CAD is headed much more lower (see Figure 1). We're in a very complex corrective pattern which suggest lower price in the weeks and months ahead.Right now we're forming a double zig-zag pattern of lesser degree which is based on the wave X connector of higher degree which should end near the 50 fib retracement at around the 0.8000 big round number.
Major Levels to watch:
[list][/list]…
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Daytrader21 14 June

Update 1: We have yet to break below they key support level and previous swing low at 0.9400. However because this level has been retested for so many times it has been weakening and it should soon start to give up. First we need a break below key big figure 0.9500 before to see the downside momentum to build up

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Daytrader21 19 June

Update 2: We have still not brake below 0.9400 major support level. However the upside seems caped at 0.9550. We should see more downside next week and another attempt to break the key support.

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Daytrader21 26 June

Update 3: The market was still unabled to break below key resistance level of 0.9400 despite multiple attempts to break below. However Friday's daily candle looks very promising that a breakout could happen as soon as Monday

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AUD/NZD Elliott Wave Cycle Completed

Daytrader21 Posted 15 May as Analysis on AUD/NZD, Target: 1.0960, Date: 1st of July, 12:00 GMT  in #Technical analysis #AUD/NZD #Elliott Wave #Fibonacci Retracement #Cycle #Abc Correction #Zig Zag Pattern
Based on Elliott Wave cycle if we count the move that started from the 2011 high (see Figure 1) all the way down to 2015 parity level we can tell that we have done a five wave move and us such we may consider the downtrend in the final stage. Right now we should be looking for a ABC corrective stage that should at least bring the price near the highs of wave IV at around the 1.1300 level.
Major Levels to watch:
[list=1][/list]…
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Daytrader21 22 May

Update 2: As per my analysis we're now heading towards the 50% fib retracement and as expected we made a temporary top at 1.0900. Next support comes in at 1.0600 which should be a good level to take profits as it can produce a bounce

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Daytrader21 29 May

Update 3: Right now price is reacting off of the 38.2 Fibonacci retracement and it may be the case we're not going to head much more lower and resume the current up trend. However we need current low at 1.0600 to hold price. Resistance comes in at previous swing high 1.0900.

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Daytrader21 14 June

Update 4: As expected AUD/NZD reacted higher from the 38.2 Fib level and we also broke above previous swing high at  1.09000. Right now for next week the 1.1000 big round number should act as support level which later on should be break

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Daytrader21 19 June

Update 5: Unfortunately the upside momentum has pushed up this pair right into the major resistance at 1.13000. We should see from here a push lower at least in 3 waves however I'm not sure if there is enough time to reach our target near 1.1000. Even though there are only 200 pips difference current price structure worries me. If Monday we can push lower and close below 1.1180 we can see more downside

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Daytrader21 26 June

Update 6: The market is already posting a reversal and a break below 1.1150 should see the market accelerating to the downside and eventually to see a retest of the big figure 1.1000

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GBP/CHF Consolidation phase

Daytrader21 Posted 30 Apr. as Analysis on GBP/CHF, Target: 1.4397, Date: 1st of June, 12:00 GMT  in #Technical analysis #Consolidation #Snb #GBP/CHF #Zig Zag Pattern #Elliottwave #Range Box #Gbpch
After SNB decided to drop the 1.2000 EUR/CHF floor the price action on CHF crosses has been distorted however we can still find a way to guide us through the current mess by simple using support and resistance level and the box trading ranges (see Figure 1). GBP/CHF as being a cross pair has a lot of tendency to consolidate and we can find more often it's moving inside this range boxes. Usually if we have this type of boxes on the left side of the chart we can see how by simple using those boxes…
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Daytrader21 29 May

Update 5: As expected we had a double top and we had a sell of from the big round number 1.4500 which can be considered the second wave of wave B. Right now we're 0.13 deviation from my actual forecast of 1.4397. The actual price is 1.4378 which is exactly 19 pips. However we're just Friday and until Monday we can still have either some further improvements or the market could still move against me. However the likelihood is for a retest of the round number 1.4400 on Monday.

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Daytrader21 1 June

Update 6: As expected and as per my last update we indeed not only retested the round number 1.4400 but the momentum pushed the price even higher. Right now as I post this update I have 0% deviation from my forecast, which is quite impressive. in the next two hours left until the deadline the market should not experience any strong movement until the New York session comes in and we should expect price gravitate near this round number 1.4400(1.4397 my forecast) during the next 2h

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Daytrader21 1 June

Update 7: 20 Minutes left until the deadline and as expected the price gravitated towards the round number 1.4400, and as I write this update I have 0% deviation

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Daytrader21 1 June

Update 9: I give here some feedback about Technical Analysis contest and why there need to bee done some adjustments.

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Daytrader21 1 June

I have 0% deviation 15 minutes before the deadline....................This is unbelievable

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CHF/JPY Range Mode

Daytrader21 Posted 27 Dec. as Analysis on CHF/JPY, Target: 122.8000, Date: 2nd of February, 12:00 GMT  in #Technical analysis #Elliott Wave #CHF/JPY #Range #Zig Zag Pattern #Wxy Sequence
Like all the yen pairs, CHF/JPY has also been trading higher and after more than 1000 pips in a matter of only 2 months this pairs is taking a pause and we can already see it has established quite a big range from 124.50 previous swing high which is our resistance level and 120.50 support level which makes 400 pips of ranging zone(see Figure 1). Until we break one of this level we can safely assume we're going to be trading inside this range in the coming weeks and as Elliott Wave sequence sugge…
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foreignexchange 28 Dec.

Thanks, well done

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EUIR/GBP Downward Channel

Daytrader21 Updated 10 June  in #Trader's blog #EUR/GBP #Elliott Wave #Downward Channel #Zig Zag Pattern #Pivot Points
Hi guys today I wanna share with you a trade pattern idea that I've posted in Technical Analysis Contest you can find the original post here: EUR/GBP Downward Channel
Since beginning of 2013 EUR/GBP has established an downward channel trading in an persistent bearish trend which has not found a bottom yet. Based on Elliott Wave count this is a bigger correction which is taking form of an double zig-zag pattern. Right now we're in the last stage of forming the last leg Y but we first we n…
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EUR/GBP Downword Channel

Daytrader21 Posted 15 May as Analysis on EUR/GBP, Target: 0.8110, Date: 1st of July, 12:00 GMT  in #Technical analysis #EUR/GBP #Elliott Wave #Channel #Zig Zag Pattern #Pivot Points
Since beginning of 2013 EUR/GBP has established an downward channel trading in an persistent bearish trend which has not found a bottom yet. Based on Elliott Wave count this is a bigger correction which is taking form of an double zig-zag pattern. Right now we're in the last stage of forming the last leg Y but we first we need a 3 wave movement(see red line Figure 1). We need a last rally towards the upper border of trading channel to form wave B and next another swing low below the 0.8100 level…
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Daytrader21 24 May

Update 1: It seems we;re already heading lower and we also have hit our target. Wave A of Y is overextending to the downside where wave A is compose of 3 corrective wave abc, with a=c. so we should see now price heading back up towards the high of wave b at 0.8200 round number

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Daytrader21 9 June

Update 2: It seems that we may be developing a 5 wave move to the downside so this suggest we should see further downside movement and we should re-count the waves. Next support is at 0.8300 big round number which should provide some bounce until than we're stuck in a range between 0.8150-0.8080

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Daytrader21 18 June

Update 3: Wave C is take shape of an 3 wave down movement and we have already reached the target of this wave based on Elliott wave projections 0.8000 should act now as support and we should see momentum start picking up. There is not much resistance under way not until 0.8080 so it should be a smooth move.

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Daytrader21 22 June

Update 4: We have not yet seen a break of the 0.8000 big round number but we have already hit that level for too many days and which suggest that soon this level may be broken.There is not much resistance under way not until 0.8080 so it should be a smooth move.

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Daytrader21 28 June

Update 5: Although we have broke above round number 0.8000 we're still having some difficulties to push up and this may cause to miss our target. However next week momentum should start picking up 

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AUD/CHF Poised For Further Consolidation.

Daytrader21 Posted 10 Nov. as Analysis on AUD/CHF, Target: 0.8510, Date: 2nd of January, 12:00 GMT  in #Technical analysis #Consolidation #Sentiment #Elliott Wave #AUD/CHF #Range #Zig Zag Pattern #Wave Cycle
AUD/CHF has witnessed a strong downtrend since the beginning of the year which is taking form of an five wave decline as seen in Figure 1. We are in the final stage before the five wave cycle is completed. Currently the wave 4 is developing in a double zig-zag pattern. Which means that AUD/CHF is poised for further consolidation until the downwards momentum start to pick up. In order for AUD/CHF to gain downward traction, we need to see a meaningful shift in AUD sentiment. There’s a strong possi…
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Daytrader21 10 Nov.

I have no idea what's happening but I see that the second paragraph is not aligned as it should be

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Daytrader21 15 Nov.

Update 1: AUDCHF has just ended finishing wave B of the wave 4 correction. From here on I'm expecting the market to run up above wave A and complete the ABC correction. I'm expecting this rally to take shape of an five wave sequence. Currently the 0.8500 round number is holding the market very strong.

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Daytrader21 22 Nov.

Update 2: AUDCHF has been dragged down by it's correlation with AUDUSD. This new down leg can develop in 5 wave sequence of lesser degree. Currently we are in the stage of ending the wave 3 from here on expecting market to settle down and 0.8270 should act as strong support as it's an unfilled gap.

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Daytrader21 29 Nov.

Update 3: The current down leg is overdone it seems that the 0.8200 is holding the market quite strong, expecting next week the momentum to pick up and it will need to do so in a five wave sequence of lesser degree, because this down leg was formed of an abc movement. First resistance level is at 0.8350 which I'm expecting to be broken and hold as support.

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Daytrader21 9 Dec.

Update 4. I think I got it wrong with this one as we broke and close below last swing low 0.8170, this forecast has been invalidated

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