With my update yesterday, everything started well then things started to run out of steam. As I mentioned in my update yesterday, if we cannot reach at least 0.0220 by the time that the hourly RSI rolls over then we'd need to re-evaluate. We got close, reaching 0.0219 but then we ran out of steam and momentum rolled over. Hopefully everyone followed my advice...
FX_IDC:NZDCAD Safe Trades;
Here's my graph on USD/JPY The indicators used suggest a decrease from A to the support area (B). The bank of Japan has announced an eventual decrease of the interest rate, which implies an increase of USD/JPY. Feel free to comment and to give me your opinion.
TVC:DXY Unfortunately i do not have an educational "chart" about these patterns ;), possibly soon, at any pharmacy near you... ;) Safe Trades.
B wave has 2 possibilities. ABCDE Triangle and a simple ABC ZigZag. Looking at the sentiment of other EUR pairs ABC ZigZag seems more likely. Only time will tell. Nevertheless there is plenty of time before the C wave starts. Short term sharp movements to both sides are a possibility in these conditions.
FX:GBPUSD Safe Trades; open.spotify.com
Our last post highlighted the idea that Wave (E) may not have been completed (see related link) and it appears that alternative has come to fruition. We were expecting a move down to the 61.8% fib ratio of Wave (C) but we have moved well past that. The next target would be $613.58 which we may have just hit (or almost hit) while I am typing this. This would...
As of my last post, numerous signs pointed to Wave (E) being complete. With this morning's move down, it re-opens the idea that Wave (E) is not complete (although it still could). If Wave (E) is not complete then we have a good target for when it may complete. The price target would be $630.09 which is the 61.8% fib ratio of Wave (C). Typically Wave (E) will...
Several signs are pointing to the ABCDE contracting triangle being complete: Looking at the daily oscillator, you can see that each wave in the ABCDE corresponds to prior to the daily oscillator's fast (gray) line passing the slow (purple) line. The daily oscillator's fast line just passed the slow line giving us confirmation that Wave (E) should be complete. ...
My previous chart is still in play although the timing may have been off. There are currently three scenarios in play: Wave 4 has already concluded and Wave (5) up has begun. (I do not believe this to be the case since the move up has not been impulsive which would be required for a wave 5) We are still in an ABCDE triangle pattern which is what I have...
Aussie/Dollar just broke a counter trend line and has retested. A continuation via a break below 0.73051 will lead us lower. first targets at resistance level at 0.71450 and then onwards to 0.7000.
HOPEFULLY THIS HELPS YOU GUYS! REMEMBER TO HIT THAT LIKE BUTTON! GIVE US A FOLLOW AND ASK ANY QUESTIONS IF NEEDED! THANKS TOM
Overall channel continuation until breakout to the downside. In the short term I see a short opportunity completing the C-leg of a Bearish Bat pattern at the 78,6 around the .71890 range.
SIMPLE ABCD PATTERN BOUNCED OF 38.2 LEVEL LOOKING FOR D EXTENSION @ 11.168 ALSO PRICE IS RETESTING TRENDLINE AND HOPEFULLY SHOULD BOUNCE BACK DOWN
50% HIT ON ABCD PATTERN ALSO WAIT FOR ATRENDLINE FOR AN ENTRY
ABCD PATTERN AND A BREAK OF A TRENDLINE IS A GREAT REASON TO SHORT THIS BUT REMEMBER ONLY IF BREAKS TRENDLINE!