Britain has voted today to exit the european union. What will this mean for the top 100 companies? Looking at the larger context on monthly timeframe of FTSE, I can see a corrective elliott wave pattern known as a flat. If this count is indeed correct, an impulsive decline is on the cards in the coming years
What do you think?
The pair has been trading in a corrective manner last few days in what looks like a textbook flat correction. Five ways can already be counted for wave C. After the completion of the pattern expect a decline in five waves taking out the low of 103.50
With the Fed beating the drum of rate increases, many are looking for the Greenback to fundamentally strengthen. Though when and if the Fed actually increases rates is a debate for another day, let's look at the technical picture for EURUSD.
It appears we are finalizing the 4th wave of a 5 wave diagonal pattern. We're looking for this 4th wave to terminate in...
An appreciation of the beauty of Gann box. Netflix goes to a perfect 38.2% deep retrenchment and flip back - creating a possibility of ABCD pattern for the flat triangle.
Will it fill the gaps at the bottom that it didn't fill last time?
I can see that it will go to 58.53.
But before that will it goes back up and fill the gap that it created today before it moves...
I think we are nearing the end of this large flat correction.
93 area should be watched closely for reversal (wave A low).
Downside of the trend is also there.
Daily charts show Momentum divergence already.
My last EURUSD chart suggesting long entry was about 4 months ago, which took longer and retraced more than originally anticipated. Whilst we were waiting for longer term bullish move, we took 2 short trades which were also published subsequently, see chart links below.
Now we have long awaited low formed in December 2015 just above March 2015 low, which could...
Tomorrow morning at 8:30a ET, the US Non Farm Payroll report is scheduled to be released. This could impact the EURUSD as the USD has been strengthening on the heels of a strong payroll report in November.
With today's post -ECB move knocking on the door of 1.1090, we have a critical level of which we can consider trading around.
First off, if prices remain...
In my last chart (link below) a retracement bounce with target of 380 zone did not play out as anticipated even though we have now bumping into 340 zone.
During this period with both up and down swings, many chartists using differing methods are suggesting that we have formed a major low and are now in new "Bullish Cycle". Several have asked if there is any...