Mi first scenario is that after an acute rally the USDMXN should take a little break before try to make new highs.
As the channel guide tell us, if the pullback that has started breaks below the channel line, the more probable scenario will be a even longer 5th wave. In contrast if the pullback stops near the bottom line in the channel is more probable a small 5th wave.
Hi Traders,
As predicted, Natural Gas topped within the target area at 4.50-4.56. Then again, it retraced to another predicted target area at 4.21-4.18.
Now, Natural Gas should resume the uptrend to the area 5.10-5.13 and higher.
TARGETS
likely: 5.10-5.13
possibly: 5.37-5.38
ELLIOTT WAVES
This new uptrend is nothing more than "wave 3" of the recently started...
An update to the Elliot Wave count I have posted previously. As long as the previous low for wave ii-(1)-3 at around 390 holds then this count looks good.
Detailed price commentary including indicators to follow this weekend on my website, hopefully.
Why geometry works with numbers ... well, I could show you some of the stuff I have been working on, and numbers... regardless as how random or linear they may seem, have value associated.... sort of like Karma. Guessing when your going to get your Karma, is Forex ... a fickle bitch.
The chink in this armor, is pretty straightforward... follow the trend. Guessing...
I suspect the 5th wave to not continue the uptrend because of this huge wave 3,
If this scenario is correct, we have a nice double-top with a divergence on the Money flow index,
Target @ next big support around 60$
Risk: 2%
Reward: 52.96%
R/R ratio: 26.48
Now the 4th wave in the EURUSD decline shows what could be a nice example of equivalent to an extension for triangles: a triangle in a triangle.
Could sound confusing but its really simple: When a triangle is forming under elliott wave perspective, some times one of it's waves instead to be a zigzag (the most commonly accepted structure inside it) forms a new...
Trading is like riding waves. It's like the market is an organism. Every action will create a reaction which is by itself a action for the next reaction.
What does this mean to this chart?
First wave: Someone bought the bitcoin price up (action). Someone follow that trend to earn some profit and also buy (reaction). It's starts to scalable. And more reactions...
Could Facebook stock drop to $50??? It might be too early to tell, but if price action doesn't make a new swing high above C leg, then this pattern may have high probably of completing. Bearish divergence on the RSI extending from July 13'. A GrandSuper Cycle wave 3 confirming the down trend which peaked at price $72.73. $FB is now showing signs of a bullish...
At the beginning of the 2008 while the sub prime crisis start to be feared by all the wheat touched peaked, since then until mid 2010 the price dis-inflated severely (lost around 65% at the time from the $1320’s to a very better $480’s the contract.
But as the recovery geared traction from 2010 it reduced the lost of price more than half when made at end of 2012...
