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Fx Trading Strategies, Forex Trading Strategies Using the Elliott Wave principle in different time frames with the tradinglevels, however the TradingLevels also come with a scalping and money management course at the Tradinglounge.com.au + FX Trading Strategies Free Trial
TAGS;
Forex Trading, Currency Trading, Forex Elliott Wave, Forex Trading Strategies, Forex Technical Analysis, Forex Analyst, Forex Trading levels, Forex Analysis, Forex Strategy, Forex Scalping, Forex AUDUSD, Forex EURUSD, Forex GBPUSD, Forex USDCAD, Forex JPYUSD, Forex USDCHF, Elliott Wave AUDUSD, Elliott Wave EURUSD, Elliott Wave US Dollar, Forex Mentor, Forex Trading Coach Indices & FX Trading Strategies ReportDow Jones – 12,184 +1.55%
Base Metals Positive
US Gold CFD: 1711
Oil WTI CFD: 99.77
Copper CFD: 356
US Dollar CFD: 78.59
EURUSD 1.3380
AUDUSD 1.0214
Dow Jones CFD 12,218
S&P500 CFD: 1259
FTSE 100 CFD: 5560
SPI CFD 4255
CFD Commodities
US Gold CFD: 1711
The pattern sitting on 1700 is corrective and once completed will break lower.
The price is trapped within SG1 with the current resistance at 1720, if 1710 becomes the resistance then the move down would have started and an expected break down through 1700 would be continuing and the place to add to shorts.
The risk, is in the current correction sitting on 1700, in that, corrective patterns can expand and that a move to 1730 before tuning lower can occur, this would be in line with the Indices and Euro edging higher for a short time.Oil WTI CFD: 99.77
There’s nothing much to say or do with Oil while its working the 100, the price will stay within the MG1{101 | 102 | 103} above and the first MinorLevel below 98 a break out of this range will be the trade as 100 support or resistance.
The Elliott count we have is for a move lower, however the short term over the days ahead is positive in line with one more possible push in Indices such as the Dow to 12,272 – 12,337 area.Base Metals
US Spot Prices (in l/b)
US Copper: Last: 3.56+
US Nickel: Last: 8.42+
US Zinc: Last: 0.90+
US Aluminium Last: 0.91+Copper CFD: 356
The price is firmly above the Midpoint 350 and should follow the indices higher, with a target into SG2 {365|372|380} with 372 being the most accurate, a move above 363 would technically satisfy the fifth wave.
The main point here offers a positive bias for the ASX and AUD markets and therefor places us long rather than short for the near term onlyForex
US Dollar CFD: 78.59
While the Indices are edging higher completing their last sub waves over the next two or three sessions the Euro will follow higher and the US Dollar will be forced down back towards 78, start counting five waves down from the last high 79.15 on the 9/12th Once this is completed expect the Dollar to move above 80
EURUSD 1.3380
TradingLevels: The bounce of 132 on the 25/11th is corrective and it’s not completed, we can expect a move up over the sessions ahead in line with the SP500, the Euro and SP500 should top out together
Elliott Wave: Look for five waves up of the last low 13280
Trading Strategy: Support on 1.34 creates the bias for further upsideAUDUSD 1.0214
TradingLevels: Allow it time to develop at 102, the price should stay within the SG2 and SG1 range for a corrective pattern, after this corrective pattern finishes then look to trade either long or short depending if the 102 is support or resistance
Elliott Wave: Corrective pattern up from the last low 10150 it can go as far as 10272 – 103 as c of b) once completed a move down in five waves
Trading Strategy: Use Support on 10230 as support for long trades and 10172 as resistance for the short trade
11:30am AUD Home Loans m/m 0.2% 2.2%
11:30am AUD Trade Balance 2.12B 2.56B
Indices
Dow Jones CFD 12,218
TradingLevels: 12,000 is support, the next important support is 12,300 this is the top of Group1 and support on 12,300 separates it from the 12,000 story, finding support on top of 12,300 is critical for the next degree of wave structure to be positive, there are a few critical number a stock fails at and the top of Group1 is one of them, so the 12,300 is something we can keep in mind.
Short term wave ratio’s place the next high at 12,272 to 12,337 first expect a small corrective pattern at 12,200 and within SG1 and SG2 of 12,200
Elliott Wave: Looking a five waves up from the last low 11,961 to 12,300+
Trading Strategy: for the market to remain positive, it must remain above 12,134. If you’re going short term long, then wait for solid support on 12,200, a small corrective pattern first across 12000 then support before going long, as the current move up is actually only three waves i.e. corrective abc so it can fail right here, so as long as it stays above 12,500 as support a long trade is safeS&P500 CFD: 1259
TradingLevels: Above the Midpoint and the market is positive
Wave count: count five waves up from the last low 1230, with a possible target 1272 - 1337
Trading Strategy: The Dow is leading to the upside the SP is laggingFTSE 100 CFD: 5560
TradingLevels: We should a new high above the 5600 resistance closer to 5650 - 5672
Elliott Wave: Same as the other Indices looking for five waves up from the last low 5413
Trading Strategy: Resistance SG2{5565|5572|5580} 8:30pm GBP CPI y/y 4.8% 5.0%
SPI CFD 4255
TradingLevels: The price will attempt to get back above 4300 the top of Minor Group1
Elliott Wave: Same as the other indices, looking for five waves up from the last low 4165 technically a move above 4350
Trading Strategy: Trade the sublevels looking for support on SG2 4230 then 4250 the resistance is 4272 and the beginning of supply News: 11:30am AU Trade Balance Summary
186 point rise for the Dow was kinda low for a Euro solution; I wonder how much more steam there is in the trend up…
There are two Elliott wave counts up at least for the short term, one that end right here and another that continues to move up for roughly three days with a target on the Dow around 12,272 to 12,337, we are looking for Wave C of (2) top somewhere up here.
Most Indices have the same short term patterns and we are looking at counting five waves up from Thursday / Fridays lows, once these five waves are completed cover all long trades and wait for short trade set ups. If we are correct we will be looking for long term short trades in the Indices.
Trading QuoteTrading is a game of probabilities. You don’t have to be right every time. You just have to follow your rules.
Today's Financial Events
Time Currency Detail Forecast Previous
8:00am NZD Westpac Consumer Sentiment 112.0
10:50am JPY CGPI y/y 1.5% 1.7%
11:30am AUD Home Loans m/m 0.2% 2.2%
11:30am AUD Trade Balance 2.12B 2.56B
4:00pm JPY Household Confidence 38.5 38.6
5:00pm JPY Prelim Machine Tool Orders y/y 26.0%
12th-15th CNY New Loans 552B 587B
12th-15th CNY M2 Money Supply y/y 12.7% 12.9%
6:00pm EUR German WPI m/m 0.3% -1.0%
7:15pm CHF Employment Level 2.79M 2.77M
5:10am CAD BOC Gov Carney Speaks
6:00am USD Federal Budget Balance -138.0B -98.5BNOTES:
1. Check the Dividend & Reporting section for your stock on this site before trading
2. Prices may change as this Technical Analysis report is written from 3.30 – 6.30AM
3. Always think things out for yourself, we are only here to bounce ideas around.
Visit for Free Stuff on Technical Analysis is available on TradingLounge.com.au site!
Fx Trading Strategies, Forex Trading Strategies Using the Elliott Wave principle in different time frames with the tradinglevels, however the TradingLevels also come with a scalping and money management course at the Tradinglounge.com.au + FX Trading Strategies Free Trial
TAGS;
Forex Trading, Currency Trading, Forex Elliott Wave, Forex Trading Strategies, Forex Technical Analysis, Forex Analyst, Forex Trading levels, Forex Analysis, Forex Strategy, Forex Scalping, Forex AUDUSD, Forex EURUSD, Forex GBPUSD, Forex USDCAD, Forex JPYUSD, Forex USDCHF, Elliott Wave AUDUSD, Elliott Wave EURUSD, Elliott Wave US Dollar, Forex Mentor, Forex Trading Coach Indices & FX Trading Strategies ReportDow Jones – 12,184 +1.55%
Base Metals Positive
US Gold CFD: 1711
Oil WTI CFD: 99.77
Copper CFD: 356
US Dollar CFD: 78.59
EURUSD 1.3380
AUDUSD 1.0214
Dow Jones CFD 12,218
S&P500 CFD: 1259
FTSE 100 CFD: 5560
SPI CFD 4255
CFD Commodities
US Gold CFD: 1711
The pattern sitting on 1700 is corrective and once completed will break lower.
The price is trapped within SG1 with the current resistance at 1720, if 1710 becomes the resistance then the move down would have started and an expected break down through 1700 would be continuing and the place to add to shorts.
The risk, is in the current correction sitting on 1700, in that, corrective patterns can expand and that a move to 1730 before tuning lower can occur, this would be in line with the Indices and Euro edging higher for a short time.Oil WTI CFD: 99.77
There’s nothing much to say or do with Oil while its working the 100, the price will stay within the MG1{101 | 102 | 103} above and the first MinorLevel below 98 a break out of this range will be the trade as 100 support or resistance.
The Elliott count we have is for a move lower, however the short term over the days ahead is positive in line with one more possible push in Indices such as the Dow to 12,272 – 12,337 area.Base Metals
US Spot Prices (in l/b)
US Copper: Last: 3.56+
US Nickel: Last: 8.42+
US Zinc: Last: 0.90+
US Aluminium Last: 0.91+Copper CFD: 356
The price is firmly above the Midpoint 350 and should follow the indices higher, with a target into SG2 {365|372|380} with 372 being the most accurate, a move above 363 would technically satisfy the fifth wave.
The main point here offers a positive bias for the ASX and AUD markets and therefor places us long rather than short for the near term onlyForex
US Dollar CFD: 78.59
While the Indices are edging higher completing their last sub waves over the next two or three sessions the Euro will follow higher and the US Dollar will be forced down back towards 78, start counting five waves down from the last high 79.15 on the 9/12th Once this is completed expect the Dollar to move above 80
EURUSD 1.3380
TradingLevels: The bounce of 132 on the 25/11th is corrective and it’s not completed, we can expect a move up over the sessions ahead in line with the SP500, the Euro and SP500 should top out together
Elliott Wave: Look for five waves up of the last low 13280
Trading Strategy: Support on 1.34 creates the bias for further upsideAUDUSD 1.0214
TradingLevels: Allow it time to develop at 102, the price should stay within the SG2 and SG1 range for a corrective pattern, after this corrective pattern finishes then look to trade either long or short depending if the 102 is support or resistance
Elliott Wave: Corrective pattern up from the last low 10150 it can go as far as 10272 – 103 as c of b) once completed a move down in five waves
Trading Strategy: Use Support on 10230 as support for long trades and 10172 as resistance for the short trade
11:30am AUD Home Loans m/m 0.2% 2.2%
11:30am AUD Trade Balance 2.12B 2.56B
Indices
Dow Jones CFD 12,218
TradingLevels: 12,000 is support, the next important support is 12,300 this is the top of Group1 and support on 12,300 separates it from the 12,000 story, finding support on top of 12,300 is critical for the next degree of wave structure to be positive, there are a few critical number a stock fails at and the top of Group1 is one of them, so the 12,300 is something we can keep in mind.
Short term wave ratio’s place the next high at 12,272 to 12,337 first expect a small corrective pattern at 12,200 and within SG1 and SG2 of 12,200
Elliott Wave: Looking a five waves up from the last low 11,961 to 12,300+
Trading Strategy: for the market to remain positive, it must remain above 12,134. If you’re going short term long, then wait for solid support on 12,200, a small corrective pattern first across 12000 then support before going long, as the current move up is actually only three waves i.e. corrective abc so it can fail right here, so as long as it stays above 12,500 as support a long trade is safeS&P500 CFD: 1259
TradingLevels: Above the Midpoint and the market is positive
Wave count: count five waves up from the last low 1230, with a possible target 1272 - 1337
Trading Strategy: The Dow is leading to the upside the SP is laggingFTSE 100 CFD: 5560
TradingLevels: We should a new high above the 5600 resistance closer to 5650 - 5672
Elliott Wave: Same as the other Indices looking for five waves up from the last low 5413
Trading Strategy: Resistance SG2{5565|5572|5580} 8:30pm GBP CPI y/y 4.8% 5.0%
SPI CFD 4255
TradingLevels: The price will attempt to get back above 4300 the top of Minor Group1
Elliott Wave: Same as the other indices, looking for five waves up from the last low 4165 technically a move above 4350
Trading Strategy: Trade the sublevels looking for support on SG2 4230 then 4250 the resistance is 4272 and the beginning of supply News: 11:30am AU Trade Balance Summary
186 point rise for the Dow was kinda low for a Euro solution; I wonder how much more steam there is in the trend up…
There are two Elliott wave counts up at least for the short term, one that end right here and another that continues to move up for roughly three days with a target on the Dow around 12,272 to 12,337, we are looking for Wave C of (2) top somewhere up here.
Most Indices have the same short term patterns and we are looking at counting five waves up from Thursday / Fridays lows, once these five waves are completed cover all long trades and wait for short trade set ups. If we are correct we will be looking for long term short trades in the Indices.
Trading QuoteTrading is a game of probabilities. You don’t have to be right every time. You just have to follow your rules.
Today's Financial Events
Time Currency Detail Forecast Previous
8:00am NZD Westpac Consumer Sentiment 112.0
10:50am JPY CGPI y/y 1.5% 1.7%
11:30am AUD Home Loans m/m 0.2% 2.2%
11:30am AUD Trade Balance 2.12B 2.56B
4:00pm JPY Household Confidence 38.5 38.6
5:00pm JPY Prelim Machine Tool Orders y/y 26.0%
12th-15th CNY New Loans 552B 587B
12th-15th CNY M2 Money Supply y/y 12.7% 12.9%
6:00pm EUR German WPI m/m 0.3% -1.0%
7:15pm CHF Employment Level 2.79M 2.77M
5:10am CAD BOC Gov Carney Speaks
6:00am USD Federal Budget Balance -138.0B -98.5BNOTES:
1. Check the Dividend & Reporting section for your stock on this site before trading
2. Prices may change as this Technical Analysis report is written from 3.30 – 6.30AM
3. Always think things out for yourself, we are only here to bounce ideas around.
Visit for Free Stuff on Technical Analysis is available on TradingLounge.com.au site!
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