AU: Sonic may think that chances are AU is going to drop another 200 pips - even more on the longer run.

Sonic R. System

You are welcome. Yes, it is a long and winding road to make EWT working in practice - the good news is that EWT is completely unnecessary for trading. But EWT puts PA in context and offers very simple and useful tools for successful trading - ...

Sonic R. System

I promised an explanation: it comes from applying Elliott Wave Theory (EWT) I do not advertise here intentionally. But the reason comes from EWT, clearly a fifth wave of an impulsive wave was under development (see blue wave) according to EWT. My ...

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JRissa, I will come back to you with pic and explanation in the afternoon (CET).

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GU: JRissa, long instead, 1.6625 is very probable, 1.665 as an option. Will see.

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Still seems to me ~1.355 is going to be taken out - supported by the news due in a few minutes

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Lower "brick" target area has been reached, my first long has been closed at BE+ in the meanwhile. Seems to me PA may drop to ~1.355 followed by a sudden rise up to ~1.372 (warning, speculation).

Sonic R. System

This time agree with Loeil. Seems to me still an upward correction on its half way, still being under development. See my target areas marked with Brick/green for both directions. My limit orders may change as PA develops. Time will tell.

Sonic R. System

A quarterly candle covers hundreds even thousands of pips. Simply a new quarter will begin and consecutive candles usually overlap to some extent (up to hundreds of pips). In the ​​overlapping area you are in a winning position regardless of the ...

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New Year Trading Tip - Bird's-eye view Open positions in either direction during the first week

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Gold update PA developed as expected and finished the upward correction at the top of the small red parallel channel and offered a perfect scout short set-up there. Though Gold hit a new low, my target area has not been reached. According to my ...

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Yen futures update PA on the Yen monthly futures chart still gravitates to the pink area indicating all the bullish yen pairs remain bullish for a while probably. Worth considering a potential reversal maybe in Jan/Feb.

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UJ comment My protective stop was hit in the meanwhile. Still seems to me that drops are just corrections before further raise and PA wants to reach the ideal top area first.

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Gold comment Based on the higher TFs gold is simply ranging, still has room to go higher (see small red channel) and currently can be treated as an upward correction. At date of posting chances are that PA is going to hit a new low within a few days ...

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UJ update UJ is still bullish on H1 and above. If my short entry survives I plan to close it around 103.5 Merry Christmas!

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SaiLyfee, though my post is a partial answer to your questions, still needs to be posted as a reply. Hopefully will help for newcomers. PVSRA weaknesses - Lack of context The way PVSRA used here for so called "position building" has serious ...

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Hi Fex, you can download it from here. Let me know if you need further assistance.

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AU update The indicated long set-up played out perfectly.

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UJ update I opened my 1st scout short near the top and it is protected now. No TP is set at the moment though the first wave down may exhaust near to RDL.

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UJ update My new high has been reached and PA seems to forming a temporary top supported by PVSRA. High impact news is due within 20 minutes.

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