Elliott Wave Academy

EURUSD H1 is consolidating in Zigzag A-B-C inside the corrective channel of wave 4.
Buyer should wait to confirm the end of wave 4 when price will break the top of channel.
The C leg of Zigzag should have 5 waves impulse downward. Which is now I can count only 4. So, there might be another swing down to test the bottom of the channel.
Traders who want to short should wait for the break down of the bottom channel, which indicates more deep correction or the trend reversal.

EURUSD to break corrective channel? for FX:EURUSD by Tanakorn_Koomrampai_CMT_CFTe EURUSD H1 is consolidating in Zigzag A-B-C inside the corrective channel of wave 4. Buyer should wait to confirm the end of wave 4 when price will break the top of channel. The C leg of Zigzag should have 5 waves impulse downward. Which is now I can count only 4. So, there might be another swing dow...

Finding the end of Corrective wave is the key task for a good entry to rejoin the trend and can provide trader with a high probability trading setup. So, what is the Corrective wave?
Corrective wave is the set of wave formation that goes against the prior Impulse wave. Correct means halt, rest or slowdown of the trend. This is a commonsense that the corrective wave caused by the profit taking of the traders those have the securities at lower price. To realize the paper profit. We can see this profit taking at wave 2 and 4 of the Impulse wave.
The impulse wave indicates the strong trend while the corrective wave can be interpreted as the sideways market.
The important thing is to know where the price is whether in the impulse wave mode or it’s in corrective period. When is the correction over? So that trader can find the right moment to hop in for the next Impulse wave.
There are 4 types of Corrective wave;
Zigzag (5-3-5)
Flat (3-3-5)
Triangle (3-3-3-3-3)
Combination

5 things you need to know before trade the gold this week.
1 Elliott Wave
The price is in the Corrective Zigzag wave C with the subwave (4) of C Short opportunity when breaks below Friday's low at 1889. If the price goes beyond 1932 then the Long bias to be applied.
2 CFTC Commitments of Traders
Smart Money still hold long 3 times than short positions indicates the long bias in mid-term and longer time frame, They closed a considerable amount of short position between 23-29 September report which means they have taken some profit of the down leg.
3 Volume Profile
1903$ is the most trade level of previous leg down. So, it should be the important resistant level.
4 Price Action
Resistance: 1903 - 1917
Support: 1880
5 Nothing is certain
For example, the news about Donald Trumps Covid-19 infection has impacted the gold price to jumped almost 30$ on last Friday. So, every order should be carefully planned and execute with stop loss level and proper amount of position sizing.

5 things you need to know before trade the gold this week. for OANDA:XAUUSD by Tanakorn_Koomrampai_CMT_CFTe 1 Elliott Wave The price is in the Corrective Zigzag wave C with the subwave (4) of C Short opportunity when breaks below Friday's low at 1889. If the price goes beyond 1932 then the Long bias to be applied. 2 CFTC Commitments of Traders Smart Money still hold long 3 times than short positions indic...