Possible retracing to could occur very soon. Keep in mind it will be counter trend down movement until breaking monthly trend line support but there are pips to be gained from shorting! I'm looking for long trend to continue for well over 1400 pips to the upside after this retrace to 195.00-200.00 price 200+ pips to downside in the meantime...Good luck
Last night, we posted about the potential for a leading diagonal on the EURUSD (see the notes at the bottom of “EUR Analysis Prior to Greece Referendum Vote”). The pair has continued to play that tune which implies: • A tradable low is in place at 1.0915 which coincides with scenario #2 in the “EUR Analysis Prior to Greece Referendum Vote” (see green notes on...
GBPUSD was forming a rising wedge or a leading diagonal for elliott wave 1 or A which is followed by a sharp correction. One can short the pair and look for targets around 50% to 61.8% retracement or wait for a long opportunity after the correction is over for a Wave 3 or B wave. Lots of trading opportunity coming up on this pair. Happy Trading!!
Hello again, I'm witnessing a perfect, textbook Wolfe Wave setup in our greatest pattern forming pair, EURUSD. It's basically a Leading Diagonal, which means it's a First Wave of a new Five Wave down move. But as Elliott suggests, there would be a sharp and fast correction after this 1st wave completes. I've counted the internal waves and as the 3rd wave iii...