Gold seems to have bounced off its resistance area and appears weak around the resistance at 1242.8. It is worth going short at these levels with stop loss above 1243-46 and aim for 1180 - 1215. However one should be careful by not risking to much ...

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Honestly IMO... I don't think there will be any drastic effects at all. To me the Russia/ukraine issue has now become a regional issue. There have been many attempts by ukraine to make it a global issue with global implications, but don't think that ...

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Well said... Knowing more is absolutely no harm...especially when it compliments other methods of trading...( just makes the picture even more clearer and crisp)

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No worries....you are welcome I personally believe that every trader should know about elliott waves... To me its the single most powerful tool for price projections. It gives context to "market structure". It gives a new meaning to "fibonacci" ...

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Indeed very subjective... However when 2 or more people have a similar count (the probability of it working increases). Elliott waves are all about finding the crowd mentality and how the patterns keep repeating again and again in a "fractal" like ...

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Spot on... Although it is easy to learn; it is hard and tedious to apply... ( I compare it to counting cards in black jack - in other words its a cheat sheet )

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wave counting as in elliott waves...(google it there is a lot of informatio on it) You can find its "rules" and "guidelines" Here is a chart...which gives the general outline... wave 2 ( in this case is a sharp correction (zig zag). If the red line ...

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true... but the day still isn't over...(late rally?) but i agree momentum is down...would take a lot to hold above the mentioned levels... yes this fall was tricky... Todays close is going to be crucial i think...if it doesn't post a rejection ...

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It is very important that we close above 1242-43 on the daily today... If not then we will definitely see the low 1200's again.

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Very good insight!

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Agreed. This is how I am seeing it right now. If price breaks the top dotted line then we could be in for a rally and the possible start for the 3rd impulse wave. However if price slips below then the entire impulse wave structure was wrong. url

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Hi everyone! url

USD/JPY Discussion

USDCAD has been consolidating sideways for a number of days now. We believe that it will start to move higher now as it has already retraced 50%, plus posted a bullish pinbar. USD CAD has a lot more room for the upside and this could perhaps be the ...

USD/CAD

Hi everyone! Here is my analysis for the week: GBPUSD has remained under a lot of pressure after trending downward consistently since mid july. The intensity of the selloff only seems to be increasing; which indicated that the pair might have a lot ...

Cable Update (GBPUSD)

Hi everyone... These are my levels for the week url

EURUSD

This trade from 1291 has been working out great too... there still could be more downside. USD INDEX is looking very strong but a testing area is approaching which might put some pressure on it... Will be very interesting to see how it reacts at ...

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Be mindful of the support areas url

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Here you are Haider... There are actually 2 alternate bearish counts to keep an eye out for just in case... url (scroll down in the comments section for the chart) image

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A HTF candle close below 1296; would imply that a 4th bearish impulse wave has culminated and a 5th wave is about to begin... Sl in the zone above 1296-1301 and take profit on support levels as mentioned before... edit* trade could go either way but ...

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This was the most troubling thing the past week... From 1320 to all the way down to these levels the sentiment is still 80% long... As the count was invalidated yesterday; we have to go back to the old numbers of 1277, 1260, 1252 to hold... *Must ...

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