It might take a couple years before another rally. The next 4 months I expect price failing at the red trend line and coming back down to 220-300 depending on how strong demand is there and therefore if it's worth for whales to try running the stops bellow 230. The 800-900 target is derived from meassuring the distance at the widest place within the triangle,...
Hi, initially foundation for my trade was grey boxes - running correction which transformed into flat correction. I should modify my stops as flat correction moves were bigger than initial running ones. I did not do this so I was stopped just by couple of points... :(
On the 4h chart, we see that pair is still trading in a corrective pattern - running triangle. It has already completed red waves (a), (b), (c), and (d). That said we are now waiting for wave (e) to unfold. After wave (e) is completed we may see a reversal to higher levels in blue wave c-circled. www.ew-forecast.com
GBPJPY has turned down last week, but notice that weakness occurred after a completed three wave rise from 191.00 to around 195.30. This is a corrective structure that belongs to a bigger and more complex pattern. Our primary scenario shows idea of a triangle placed in blue wave (b)-circled so uptrend could still continue but after wave (e) is done. www.ew-forecast.com
Big possiblilty making s-h-s before bearish running to 1.00. Grexit (June; Greece has much more payment need to do) and FED June is the man drivers. It will make right shoulder top before June FED meeting.
3 months earlier in January 2015 this stock market price was normal, just comeback from bubble mode, nothing else 70% is owned by foreigners, hedgefonds, ETF This conditions we had in 1998 and you can see the result. QE of EZB is working and ETFs and Fonds did collect tones of money in March. They are the temporary buttom fishers and well get more spezial offers...
An easy method that I'm using to anticipate whale behaviour. Identify stop hunts, messure how much the whales drove price up/down to run the stops, and then project the same distance x2 to x3 in the opposite direction to have an idea around what levels whales would like to take profit.