Jump to content

More Triangles that a percussion section!


Recommended Posts

As well as the Draghi induced whiplash I have noticed that the market is rife with Triangle formations.  I've posted recently in the FTSE 100 post and US markets post on potential ending Triangles (there on Dax and Nikkei too).  There is a nice one on AUDUSD now as well.  There are also several complex wave 4 Triangles: GBPUSD; EURUSD; Gold and DX.


This all suggests significant uncertainty in markets and when these Triangles break they often run hard.  On USD I'm bullish, and therefore I expect that Triangle to break to the upside soon and correspondingly Bearish on EUR and GBP.  I'm also looking for another Short on AUDUSD, maybe on a retrace of that ending Triangle.


On the Stock indices I believe the Bears will finally get a run, how long for I'm not sure, and I will see this as confirmed when we get a retrace with a lower high turning point then it's strap in time.


Happy days!

Link to comment

AUD USD, has now turned lower, hopefully it will now break the 2 hourly trend line. The momentum hopefully will starting strengthening to the downside, however looks like we also in the very short term need to see a close below 7761, which is current weekly support. 

Link to comment


This topic is now archived and is closed to further replies.

  • General Statistics

    • Total Topics
    • Total Posts
    • Total Members
    • Most Online
      10/06/21 10:53

    Newest Member
    Joined 29/09/22 05:18
  • Posts

    • PayPal Holdings Inc.,Elliott Wave Technical Analysis PayPal Holdings Inc.,(PYPL:NASDAQ): Daily Chart,September 29 2022 PYPLStock Market Analysis:It looks like we have a three wave structure to the downside which makes us believe the count is moving as expected. Waiting for confirmation level to be broken. PYPLElliott Wave count:{c} of 2. PYPLTrading Strategy:Lookinga break of the green line and then a three wave pullback. PYPLTechnical Indicators:We are trying to go back above the 20 EMA. TradingLounge Analyst: Alessio Barretta       PayPal Holdings Inc.,PYPL: 4-hour Chart,September 29 2022 PayPal Holdings Inc.,ElliottWave Technical Analysis PYPLStock Market Analysis:The most important thing was to count 5 waves into wave {c} and we can identify them. PYPLElliott Wave count:{c} of 2. PYPL Technical Indicators:Above the 20EMa and RSI made a bounce into neutral territory. PYPLTrading Strategy:Looking a break of the green line and then a three wave pullback.
    • The rally on Wall Street yesterday provided Asian markets with a reason to bounce, as oversold stocks and excessively bearish sentiment finally gave way to some bargain hunting among investors. The Bank of England's decision to intervene in bond markets yesterday provided the foundation for at least a short-term bounce, but whether it turns into anything more sustained remains to be seen. Longer-term of course, rates continue to rise, and the economic outlook remains grim, suggesting that earnings will keep coming under pressure. Thus while another 'bear market bounce' may be in the offing, the overall outlook still suggests that risk assets will struggle. Today sees German CPI and weekly US jobless figures, along with speeches from Fed members Bullard and Mester.   
    • For more up to date news on how markets will open, the latest earnings and economic news, watch IGTV live in the platform at 07:30am UK. Today’s coverage:   Relief for the markets as the mighty USD saw one of its biggest single day declines since the early days of Covid Indices: New lower lows and a mini capitulation for most markets before a rebound. Europe expected to open up. APAC all higher FX: USD weakness unwinding a small degree. EURUSD awaiting German inflation expected to tick up by a margin of more than 150bps to 9.4%’ GBP weaker again  Equities: Toyota global vehicle sales up 44.3% in Aug, a record for the month Commods: Pretty much all of the commodity complex showing an upward retracement in the wake of that weaker USD. Today a small drop apart from oil which is holding Wednesday’s gains      
  • Create New...