Looking at around 83270 for signs of a bottom before a strong move to the target zones. Idea based on a 5 pivot completion, which if confirmed is also an SEP ( Skewed Expanding Pivot ) ie. each successive swing is not only larger but skewed to the downside along the 0-4 line. Will be watching for a reversal at the latest ML.
Sincerely,
TIK
Comments
iTradingForex
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Timing_is_key
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Nice fork, shows real downward pressure along ML ( Lower Tops ) . Notice the ML is at the same angle as the most recent short term tops, hence, if it is broken, may well go to Upper MLH. Looking for a P5.....Let's see how this unfolds:)
Sam0101
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U see support lies at 0.8275?
iTradingForex
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Yes, please let there be some kind of bounce...p5 p7 p9 just let me short against this line haha :D
Sam0101
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Is kiwi calling for reversal all the way to 0.84?
Timing_is_key
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Hello GohSam,
Market fell hard and pulled up at second P5 Target, however, Since then it's bounced its head again on the 0 - 4 Line and it's failing around the lower warning line....telling me if it closes below WL good chance it will drop to the next Equidistant WL. Unless this 0 - 4 line above breaks I say No to .84
Timing_is_key
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Getting Close To Next WL. Should bounce from here
iTradingForex
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I like it! Check out the larger context too though...pretty strong downside there.