Hi Guys, might be quite a read but it is relatively worth it I reckon.
NB* I'm using the monthly to 4 hour timeframe for an overall directional bias and 1 hour TF for intraday analysis with my entry confirmations coming from the 15 minute TF
Monthly Timeframe Analysis
The (1) and (2) and counts are by no means Elliot waves and merely an impulse – correction – impulse indication for me, taking that into consideration, a correction based on the monthly timeframe is required. The current (1) move which is impulsive, may still evolve, I am therefore, waiting for the opportunity to short sell to around 32400 with buy orders waiting around 32347
1 Hour Timeframe Analysis
(AH) abbreviates Asian Session High, (AL) Asian Session Low, (LH) London Session High and (LL) London Session Low. The New York session is running between both sessions (Asia and London) and is considered a ranging market by me. Any impulsive movement above will prepare me for intraday long positions to around 34800, I will not be looking to sell unless we break the wick (which is also the London low and New York open) emphatically. I till then sell at the break and retest with my SL at 34700.
NB* I'm using the monthly to 4 hour timeframe for an overall directional bias and 1 hour TF for intraday analysis with my entry confirmations coming from the 15 minute TF
Monthly Timeframe Analysis
1 Hour Timeframe Analysis
(AH) abbreviates Asian Session High, (AL) Asian Session Low, (LH) London Session High and (LL) London Session Low. The New York session is running between both sessions (Asia and London) and is considered a ranging market by me. Any impulsive movement above will prepare me for intraday long positions to around 34800, I will not be looking to sell unless we break the wick (which is also the London low and New York open) emphatically. I till then sell at the break and retest with my SL at 34700.
Comment:
Take Profit 1 Done
Will look for better confirmation before selling harder.