After a sustained drop in a wave (X) and ending with an EED , prices are now reversing and heading higher. This could be the start of a MUCH, MUCH higher movement!
Dropped out of a EED following the NFP release last week. This most likely signals the beginning of a larger move down. But caution is needed as there should still be another move up before it drops.
See my FULL MONTHLY Analysis on USDCHF for details: (F) USDCHF FULL Monthly Update: Still Forming The (Free post. No Subscription required)
This pair EXPLODED upwards as predicted! However, unfortunately we had closed our positions last week on NZDUSD before this recent leg up. But this move up should be coming to an end soon and when it does, there will be another good opportunity to make more pips!
GBPJPY is most likely headed lower to complete a major wave down. What apparently happened was that there was a completed wave (4) triangle and then prices fell from there in what is now the wave (5). We should see another push down to complete this wave (5) and also the larger wave A before we see a MAJOR reversal occur.
See my recent FULL MONTHLY Analysis: (P) GBPJPY: Finishing The Wave A. Getting Set For A Reversal Wave B. (Premium Subscription required)
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
THINK before you comment! It takes MUCH work and time to create these posts! So before you decide to criticize me for what I post, or how I choose to post, remember that I don't just throw a chart up with a few lines on it with a few arrows showing 2 possible directions and that's it. I can do those in 5 mins. My charts take MUCH effort and I put much detail into creating them for your benefit. I hope it helps but I also hope it's appreciated!
If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.
If you desire to receive ALL my analysis on pairs I trade and cover as well as REAL-TIME trade signals, consider joining my private group and my members. You'll get REAL-TIME trade signals and analysis as the trade happens and discussions those trades live. Interested? Go to efxselect.com to subscribe and get these signals in REAL-TIME!
Website: http://www.efxselect.com to subscribe
Join my Skype chat room! It's FREE (requires registration): Skype ID: andrewefx