This is a time at mode analysis of the current EURNZD uptrend. We have an uptrend time expiration in 2 bars and CCI divergence in the recent top, whilst also seeing the highest low level taken by the last down bar. On top of this, price reached and exceeded the target ahead of time, by three times the projected range, which tells me it's currently overbought. Sellers might be in control for the time being. Using EW rules, we could conclude the next wave should be a sharp correction, but I'll refrain from taking a guess here. I want to take the long side, If there's a short opportunity I'll use the downtrend to time my long entry. Cheers, Ivan.
Waiting for a second chance at a short entry until the correction ends.
Ultimately I'd like to go long again if possible, we'll see.
Covered my shorts for the time being.
IvanLabrie
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Top might be in, or close.
One more time target left, macd signature for a divergent fifth wave top, daily price target almost reached, way ahead of time.
No trade yet.
IvanLabrie
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Sold 1.51729, still running, stop is above the highest high for the time being.
IvanLabrie
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Looks like complete five waves now, entered a short.
IvanLabrie
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Waiting for this correction to end to enter long again.
IvanLabrie
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Got stopped out of this one sadly...minimal loss though, less than 1%.
IvanLabrie
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There's downward pressure still but correction might be over, watching.
IvanLabrie
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Placed a limit buy and got filled, looks like wave 1-2 are complete.
Filled at 1.48143.
IvanLabrie
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The time at mode signal caught the exact end of wave 3.
Looking to buy this 4th completion.