EURGBP: I will look for Buys if a Reversal set-up comes.
EURGBP Tech. Analysis: Elliott Wave & Harmonics.
* Harmonics Pattern: Bullish Cypher
* Elliott Wave Pattern: Running/Expanded Flat in (B) (red)
* Supply Zone
* Fibonacci Extension & Fibonacci Retracement: Confluence
EURGBP Long: My Trade on the FED Press Conference (FOMC/FRED)
* Entry @ 0.85100
* SL @ 0.81500
* TP @ 0.91985
This is a trial trade for a potential swing and add longs thing.
Many pips ahead,
Richard, the Wave Jedi.
* Harmonics Pattern: Bullish Cypher
* Elliott Wave Pattern: Running/Expanded Flat in (B) (red)
* Supply Zone
* Fibonacci Extension & Fibonacci Retracement: Confluence
EURGBP Long: My Trade on the FED Press Conference (FOMC/FRED)
* Entry @ 0.85100
* SL @ 0.81500
* TP @ 0.91985
This is a trial trade for a potential swing and add longs thing.
Many pips ahead,
Richard, the Wave Jedi.
Comment:
Things change.
EURGBP went bull without me.
What now?
Corrective Pattern is becoming a bit more complex for now.
It can still be an X, however, the impulsive structure states :bull: hmm..
To be continued ..
EURGBP went bull without me.
What now?
Corrective Pattern is becoming a bit more complex for now.
It can still be an X, however, the impulsive structure states :bull: hmm..
To be continued ..
Comment:
OK, so EURGBP did an Impulse.
I am labeling it as Minor C (white).
I have also decided to go with a Triple Three in Minor B (white).
Intermediate (B) can be a Running Flat or Expanding Flat at this point.
* Bearish Continuation:
- Running Flat at 100% Fibonacci Extension of Minors A & B (white).
- Expanding Flat at 200-261.8% Fibonacci Extension of Minors A & B (white).
* The only thing that can force Minor B (white) to further extend in its complexity would be another swing below 0.85699 . This would force more sideways movements. Must not go further than 0.84334 , otherwise Intermediate (C) (red) has already started.
* Still giving the bull a chance.
BUY ENTRY @ 0.86550
SL @ 0.83500
TP @ 0.90000 & 0.92000
I am labeling it as Minor C (white).
I have also decided to go with a Triple Three in Minor B (white).
Intermediate (B) can be a Running Flat or Expanding Flat at this point.
* Bearish Continuation:
- Running Flat at 100% Fibonacci Extension of Minors A & B (white).
- Expanding Flat at 200-261.8% Fibonacci Extension of Minors A & B (white).
* The only thing that can force Minor B (white) to further extend in its complexity would be another swing below 0.85699 . This would force more sideways movements. Must not go further than 0.84334 , otherwise Intermediate (C) (red) has already started.
* Still giving the bull a chance.
BUY ENTRY @ 0.86550
SL @ 0.83500
TP @ 0.90000 & 0.92000
Comment:
Euro-Pound did not provide a suitable entry.
Retracement was a mere 38.2% and I missed the train.
Retracement was a mere 38.2% and I missed the train.
The Running Triangle suggests a final bearish leg.
After that, I will look for buy set-ups.
Stay tuned.