I don't expect this bull run to continue much higher. I went ahead and entered a short with a stop just beyond the 0.786 of the July 4/5 decline, in case of a temporary pop up at US open. Ultimately I think this is going to break down lower and take out the recent lows in 0.67600s.
Currently my target is 0.67645, but if the trade continues to go my way I may take that target off and let it run, as I expect it to continue going lower. If it does break that low, I'll either target 0.66965 (the 100% of the June 28 - July 1 decline, projected off the July 4th high), or manually close on a pullback past a 49 HMA (I like InSilico's Hull Suite).
I need to type faster. I'll have already been in this trade half an hour by the time this posts. :D
I base my predictions off a variety of different Elliott Wave counts, anticipating what I believe is the most probable move on the short-term based on the confluence of those counts.
Please DO NOT mimic my trades. Do your own due diligence. I am not a professional analyst.
Currently my target is 0.67645, but if the trade continues to go my way I may take that target off and let it run, as I expect it to continue going lower. If it does break that low, I'll either target 0.66965 (the 100% of the June 28 - July 1 decline, projected off the July 4th high), or manually close on a pullback past a 49 HMA (I like InSilico's Hull Suite).
I need to type faster. I'll have already been in this trade half an hour by the time this posts. :D
I base my predictions off a variety of different Elliott Wave counts, anticipating what I believe is the most probable move on the short-term based on the confluence of those counts.
Please DO NOT mimic my trades. Do your own due diligence. I am not a professional analyst.
Comment:
I'm still anticipating a decline, provided the price continues to move through the HMA.
