I think we're closing in to the end of this long triangle correction (ABCDE), currently seeking the C of the E of the wave 2 of the larger degree count, which would technically take us to the start of the wave 3 of the larger degree. Please guys let me know what you think about this count in the comments below and hit that like button!!
I think the corrective wave two on EURCHF is now complete with a complete breakout of blue channel on wave AB and a clean retest on wave BC.
Impulsive wave three now looks clear.
This is only an idea and must not be taken as a trading signal.
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Here is a link to Scott Carney's own web-page, supposedly something he has written himself:
I want to outline something interesting here. I quote from the article above:
'' It is important to note that there are others who have assigned different Fibonacci numbers to the framework of the Gartley...
Hello Fellow Trader!
Dollar Index Strength and USDJPY Targeting 106.800
DXY – US Dollar Index 6 month sell off due to FED stimulus and investors seeking larger returns from the equity market has possibly found a short-term floor.
In September, DXY has already risen 1% and has more room to move technically as it eyes off 106.800.
GOLD : Follow the uptrend. Look at my other analyzes, great profit :)
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After a big bulish impulse, made a big correction, now we are waiting for a confirmation to take a buy position. Our TP is around 23.15000 with a reward risk of 8%. We will move our SL to BE around 22.45000 .
DOW : Since 2008 inequalities have increased sharply, the rich are getting richer. 2020 after the economic crisis, the economy remains the same and inequality increases sharply. Follow the up trend.
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9 minutes ago
Expert the Risk Tone to be the major currency driver.
The Key is for fundamental analysis to in line with the technical.
* If there is any progress regarding the Contamination of the corona Virus.
* If there's any progression with the economic opening as well and deescalation with the USA/CHINA war to move the trade.
Thank You in Advance.
Another one I'm watching today. LULU is just hanging out chopping up and down trying to figure out where to go. For this one, falling out from a previous wedge, my bias is to the upside ... eventually. Either 1) if we go to demand, I'd like to look for an entry long because generally after price breaks down from a wedge pattern, price action tends to retrace...
Think this could be another great post earnings opportunity. From being in a chop zone prior to earnings and then earnings accelerating price action to put it right into either a supply or demand zone. Obviously sold off right into a demand zone. This one is a little more "patience" involved as there are two demand zones I am seeing right on top of each other...