Gbpaud long and medium term analysis.

I would not want to bore you with the long term analysis of this pair. What I know now is that an intraday corrective pattern is forming and I have forecasted what price could do to this effect.
In the 4 hour chart below, we could see an emergence of an impulsive wave. Let’s see if we can follow price as it tells us what to do next. The first wave followed by the second corrective zigzag wave with about 50% fibo retracement. Price broke above the end of wave 1 which is a clear indication that price is searching for where to rest the third wave of the prospective bullish impulsive move.
In the quest to gather momentum to achieve this, price has moved above the first wave and it’s now moving toward the once resistance region that has now turned support. The third wave normally is a 161.8% projection of wave 1 taken from the end of wave 2, this will happen at 2.025. For this reason, I see the recent bearish correction as the fourth wave of the impulsve wave 3 of the primary trend.
Zooming down to the 1hour chart to see the emerging corrective pattern more clearly so as to forecast possible region of reversal. In the 1 hour chart below, price has a probability of forming a double zigzag pattern which could end at 1.8800-1.8760 or 1.8600 -1.8650. The former has been tested once and if broken again, we watch for the latter where we will wait for reversal signal to buy and aim profits as price could be on its way to 2.025 in the long run. If price doesn’t get to these regions, and rallies up to break the upper channel line, one can also buy and aim high. The former is aggressive with very high reward potentials while the latter is conservative with lower reward potential.
If price conversely breaks below 1.8650 in high momentum with no sign of reversal, the proposed impulsive move is invalidated and the move would be taken as an end of a zigzag ‘ABC’ corrective pattern with ‘C’ 100% extension of ‘A’ from ‘B’. I will update you if the scenario holds.
You can get a regular pdf update of my analysis in your mail box by subscribing to my mailing list. Just send your request to Forexmaster05@yahoo.com.

To all my followers here..I have been out for some times now...I will be back shortly

How has everyone been...i dont know if someone is still foloowing

I want your comments and contributions
Thanks

I will come back shortly for analysis on usdcad, gold, gbpaud and others

I am an avid follower and we have been wondering where you hibernated to? So glad to have u back

stolenstone:
I am an avid follower and we have been wondering where you hibernated to? So glad to have u back

was trying to complete a professional course so i had to leave forex a while...i even uninstall mt4 so that i can concentrate...I am back
I saw the chf surge...it was very massive..I havent seen such before

Please i need full participation and comments now

For those of you that have through me or any other medium loved or gotten interest in elliot waves methodology....I will start lectures soon here on nairaland and on my blog ( www.forexsnipper..com )

I just need participation now.....

Thanks

oya ooo! I don spread mat for the thread, grab one bucket of popcorn and my biro and jotter! Leggo!!!!!

Usdcad

If there is a market that is affected by the international oil price , it is the usdcad. The current fall in oil price propelled Usdcad to a very high level, one that many people might not have seen.
From the economic point of view, united stated as the largest oil consumer in the world could afford to buy more than triple of oil with the same price. This has helped saved so much money and USD (United State dollar) has gained very significantly. Little wonder it strengthened over almost all major currencies.
Also, the greatest strength of the USD was clearly seen against the CAD (Canadian dollar) as the later weakened even on its own.
Canada are not only US’s closest neighbor, but the largest supplier of oil to the US economy and this business relationship is fostered greatly by the price of oil.
When Oil rises in value, Canada laughs while the US frowns .When it dips in value, the reverse is the case.
This singular act has brought about a negative correlation model between the Oil market and the UsdCad market and that’s why in the last 6-7 months while Oil price dipped, the Usdcad was soaring and breaking more resistive levels.
At the beginning of this year, I posted an article on my blog about my view on the movement of Usdcad from the technical point of view. You can read here http://forexsnipper..com/2015/01/usdcad-analysis-for-2015.html
I forecast a probable reversal at 1.1890-1.1920 but the strength of the Usdcad was so powerful that this important resistive region was broken with ease and price now sits comfortably above 1.2500.
I will continue from that analysis
On the weekly chart, what we are currently having is a flat corrective pattern which is completing at a strong resistance. The 5th wave of the C leg ( an impulsive 5-wave move) is formed at 1.618 projection of the 1st wave from the 4th wave. The flat pattern is also resting at a 50% retracement of the super wave {1}. If this analysis holds, we should expect a big dip in the price of Usdcad from wave {2}and probably Oil price will rise in the first half of this year.
A bearish candles formation and momentum divergence at a strong resistance on the weekly chart are early signs of bullish weakness
From the intraday point of view, price has started showing some bearish commitment, in a correcting channel after forming an impulsive 1st wave. If the channel is broken downward, we should expect price at 1.1500 and below. If the channel is broken upside and price eventually breaks 1.2800, we could see more bullish move. The intraday channel thereby becomes the action zone.
Market geometry involves contraction and extension, we expect one after the other.
Patience is needed as we decipher what could be the next big move!….Don’t miss it.

Get all the analytical charts at www.forexsnipper..com

If there is a pattern I enjoy watching out for, it is the ending diagonal or what many chart pattern traders call Wedge formation.
This pattern , apart from its ease to spot and reliability, it also gives an excellent risk reward ratio especially when it ends a correction like what we are having presently in the 1 hour chart of Gbpusd.
Since August 2014, the cable has been undergoing a very sloppy run of bearish movement.
Going by the daily chart, price could presently could have completed wave 3.
Due to the fact that wave 3 is expected to be a 161.8% fibo extension of wave 1, presently price is at 138.2% extension.

This shows that there could still be some room downside to complete what would probably be the last wave of the third wave before we have the last correction of the bearish impulsive move.
The price wave formation on the 1 hour chart strongly supports this count with a corrective zigzag formation ending with a clear ending diagonal.

price should take a dive to 1.4680 ( 161.8% extension of primary wave 1 and 127% extension of subsidiary wave 1)
I expect to sell from here as negative divergence formed on the daily chart further gives more confidence.
However the price moves, I will update you.

Get the analytical charts at www.forexsnipper..com

You can join my mailing list by forwarding your e-mail address to Forexmaster05@yahoo.com and get all my analysis and trade recommendations in pdf.

Follow Usdcad and Gbpusd market update on www.forexsnipper..com ...Be part of the next big move

New analysis on Usdcad and Gbpusd have been uploaded on www.forexsnipper..com. Audnzd and Cadyen to come later

check how I profited from Gbpusd and Usdcad moves in just two days. Check the power of using elliot wave methodology to make profits in any time frame. I have updated Usdcad and Gbpusd. I have also included Gbpnzd. Be a part of the move. Kit yourself with vital information needed to make proper high confidence and winning probability trades. Go to www.forexsnipper..com
You will be amazed how trading forex is not that difficult.

Oyedey4u:
Good to have like mind here... I am new into forex trading and i was priviledged to have the FX BOOM system... I actually works on GBP, USD, EUR, pairing with JPY and other JPY pairs....
It has about 80 percent positive trade for me because i have not mastered it to achieve the 99% effectiveness ratio placed on it... All the same, i will like to share my little knowledge with experienced traders like both of you....

Pls can you share the fx boom system with me..Email-angelezeus@yahoo.com

Check new intraday updates on Usdcad and cable to position yourself.....I have made so much from Gbpusd...

Check update at www.forexsnipper..com

hello. what can I do with $5,000 in forex,what are the risks and how much margins can i make in a month on $5k

voltron:
hello. what can I do with $5,000 in forex,what are the risks and how much margins can i make in a month on $5k

Well...there are lot to make on this business despite the high risks....If one are not a greedy type, it is very possible to double the fund in 4-6 months with the right tools
pls inbox me at forexmaster05@yahoo.com for more details.....or sms/whatsapp me on 08134820569.. ... i will give u more tips
Thanks

elyte:


Well...there are lot to make on this business despite the high risks....If one are not a greedy type, it is very possible to double the fund in 4-6 months with the right tools
pls inbox me at forexmaster05@yahoo.com for more details.....or sms/whatsapp me on 08134820569.. ... i will give u more tips
Thanks

will inbox you

alright

voltron:


will inbox you

New update on Usdcad has been posted...You can follow on www.forexsnipper..com
Cadyen to follow later today....

have a pipping week.

RED ALERT: Usdcad Bears are Knocking!

I did an analysis on 13th February on Usdcad after discovering a successful flat formation and a reasonable bearish candlestick formation. You can read http://forexsnipper..com/…/flat-formation-in-usdcad….

Usdcad went into some intraday triangle consolidation and I got myself following it hitherto.

The triangle consolidation was breaking upside in an intra day motive diagonal move with 1.2800 acting as a resistive barrier.

With another resistance at 1.3025 up for grasp and the FOMC announcement coming soon. It looked like a battle between these resistive levels...A resistive zone came to mind ( 1.2800-1.3205) especially when noting that 127% and 138.2% extension of wave1-3 from 4 of the C leg of the flat also fall within this zone.

With price forming a flat corrective pattern (with C let coming as a clear impulsive move) at 50% retracement of the bearish move between Jan 2002 and Nov 2007, a reversal trigger is needed whether technically or fundamentally.

With the FOMC at the corner and 1.2800 acting very strong and an expected flat correction for a fresh bearish move, I had to exit my buy to 1.3205 and watch how price react to the announcement before knowing the next destination
The FOMC was negative and price move sharply out of the intra day ending diagonals to start a move downward.

With all indications almost satisfied for a bearish move, Usdcad is expected to be on a bearish journey especially if this week candle is an engulfing one.

Follow up at www,forexsnipper..com and book mark it.
More analysis to come

This market has for long crashed down. I am one of the people waiting for a turn. With the completion of the long term bearish correction, price is expected to move up. A trigger is needed and it seems we have now.



From the weekly chart I have below shows the wave analysis from the beginning of this millenium 2000till date, during which we have a five wave impulsive move followed by a zigzag corrective patter. The B leg of of this zigzag is a triangle formation. Triangles are known to usually precede the end of a run. Price broke out massively in a trendy impulsive move ( this can be seen clearly on the daily chart). The C leg of the zigzag completes a 100% extension of A leg from B leg which is a very typical fibonacci relationship in zigzag corrections. Price is expected to turn from here to 1.1800 resistance, 1.2600-1.3000 ( breakpoint retest of the triangle) and if the long term bullish trend resumes, price go higher and higher.

Always check www.forexsnipper..com for updates

Hello everyone, its been long I haven't been here. i am back with my very good pair. The pair that has made so much for me.

Get the analysis http://forexsnipper..com/2015/05/multi-face-analysis-of-usdcad.html

Eurusd

Whether you support a bullish or bearish movement, this analysis could be of help.

http://forexsnipper..com/2015/05/two-face-of-eurusd.html for your analysis.

#Euraud

Get the wave analysis on the long term and short term with analytical charts.

http://forexsnipper..com/2015/06/euraud-at-critical-wave-zones.html

An all encompassing analysis on Nikkei 225, Yen and Yen pairs. Markets are at vital points and we must take note. If you are interested in Yen related pairs. You can read this analysis.

http://forexsnipper..com/2015/06/what-charts-are-saying-about-yen.html

Get breaking Euraud, Gold, JP Morgan, Eurusd Analysis. This will help your trading decision.

http://forexsnipper..com/2015/06/euraud-rally-after-diagonal.html

http://forexsnipper..com/2015/06/eurusd-bullish-scenerio-activated.html

http://forexsnipper..com/2015/06/jp-morgan-as-caught-on-elliot-wave.html

http://forexsnipper..com/2015/06/gold-spot-on.html

Analysis on Usdollar Index and Natural gas futures...this might help somebody

http://forexsnipper..com/2015/06/dollar-index-preparing-for-deep.html

http://forexsnipper..com/2015/06/natural-gas-market-as-it-stands.html

Do you trade futures?.... Check this analysis on analysis on Light crude Oil......

http://forexsnipper..com/2015/06/light-crude-oil-to-resume-downward-trend.html

AudNzd Intra day Possible Move...Check it out

http://forexsnipper..com/2015/06/audnzd-preparing-for-new-bullish-move.html

Guys check Usdjpy and Cadyen updates

http://forexsnipper..com/2015/06/yen-is-expected-to-strenghten-across.html

Are you in a position on UsdJpy or trying to, this analysis will be helpful..Check it out

http://forexsnipper..com/2015/06/usdjpy-intra-day-update.html

@elyte,weldone for ur courage.I'm in luv with dis ur harmonic pattern trading strategy,pls do u have a beginer tutorial on harmonic pattern?if yes I am interested .
jdola6@gmail.com