Anyone that is in this buy, you might want to consider letting some run to the 50-62% area. It will definitely face some resistance at the 38% fib/ low (ray line) area, but considering how it looks, it may correct and continue upward. The daily is showing to be overextended, but the weekly looks like it may trend up more. All the platinum charts were showing...
AU has been consolidating at the major 78% fibonacci retracement. If it breaks out of here, it may be turning. It is at a point that it can. Oil news in a half hour. Aud news later tonight, so a lot of eyes on it. But definitely a pair to watch. It should correct this downward chop at some point. Looks like it may be getting ready to do that.
GN is at overlapping trend fibs, pitchfork, and at a spot in the pattern where it could make a "C" wave to break the trend line. It is over extended and showing divergence on all time frames, on TDI and bollinger bands except for the monthly. It is possible that it did complete a contracted flat pattern and is on its way up considering how this wave looks though....
If you took the UJ sell you may to to secure some profits soon, refer to first post, but if you let some run you might get lucky. See? If that's a running flat then.... we may wind up having an expanded flat in the middle. Considering where it was at in the pattern (2 major possibilities) you would expect it to at least correct here, to collect orders and it did....
sorry guys but I had a small heat stroke yesterday afternoon and have been recovering. Plus I have not been trading london lately which would be very helpful to everyone if I was. I feel awful but saw some questions. I just knew EA was at a spot it would reject, with the possibility of much larger downside, and it did reject it. It came up to break the high. I...
That was a killer trade entry with huge potential upside. The 23 and 38% yellow fib levels will be key levels for price to break because if it breaks the 38%, then we should have at least a large 3 wave "X" correction (50-62%), potentially more in the long term. But watch for corrections off the 23 and 38% levels for possible buy entries.
NZD/CAD Is at the spot for one more move up the way it is measuring and swinging. Did not exactly get the greatest reversal pattern, but this is the fib area for it to make another shoulder from, potentially creating some sort of flat pattern. I am seeing striking similarities in the NZD pairs as far as their swing structure. Just understand time frames and limit...
EG is approaching the .618 level (which would break high if it did). But you can see the pitchfork and all the intersecting trend lines of structure. It is potentially a very large sell down. Looking at the one hour, the wave it is on is coming off the 1.618 extension in an impulse, so i would expect some consolidation and another little push. So, basically, i...
