AN hit TP 1. Refer to levels mentioned in my original analysis and continue to look for shorting opportunities and let some run to the low. The long term buy for massive gain is the main idea, but the correction on weekly seems incomplete to me.
If GJ gives us a small wave 4 type correction (23-38%), look to take it down for wave 5 (I marked a significant level). If that happens, then look for a larger 3 wave correction to the upside.
That would be a WXY double combo. That was what I was looking for on Eur/Cad on weekly. So far it has been playing out nicely. Notice the similarities.
I am not a fortune teller. But right now EA is at a zone that it can sell from and measures out fib wise to make a small 7 swing.It is measuring out to make more of a corrective pattern. I am still holding my sell from higher up waiting to see what kind of pattern and price action we get. If it does sell down from this zone, secure some profits and watch out for...
NJ broke small diagonal coming off intersecting fork lines. It was also the 200MA on the monthly. This pair can have some very large upside even breaking the major high on this screen, considering the pattern and price action.
At this point my second position is still running on Aud/Jpy, as it looks like it corrected to go down to break the low.
Echf coming off .618. The truth is, I have no idea how the pattern will play out, but consider the measurements of that 3 wave I expect further corrective structure to develop upward. I circled that pattern to the left just to show you one possible way it can do it. Maybe we are just looking at a running flat and it continues up, to break the high. I just don't...
This is why I am looking at it like that. As long as it keeps following this pattern I can trade it. The next sell would be very nice if it makes a corrective move up.
There is some NZD and AUD news drivers this week. Forgive the messy chart. But NZD/CHF measures and counts out to be doing a large 7 swing structure going down. I posted the 4 hr yesterday I believe (I will post another close up look). We got a small correction up that seemed to be correcting itself down running into my 50% weekly pitchfork line, and a w-x-y...
I expect Copper to produce more of a correction here at least. I would look for buy setups. It came off the 1.618 extension and just gave a very simple 3 wave. Should be a nice buy coming on this but we are likely still in correction so manage properly.
Notice the trend line of the small WXY and therefore the structure it is currently in. Please refer to my post of the weekly and daily.
Silver has done 7 swing upon 7 swing. Oversold on weekly. Over extended on Monthly TDI. Already turned up on Daily TDI. There is potential for a very large trade to the upside if it were to do a larger 7 swing on the larger scale. We can get more downside before the LARGE upside move, but we are at a major fibonacci and pattern confluent supply zone. Hard for me...
I posted the buy and mentioned it might tag the high. It may be a very nice sell from here, I can't remember if I told you to sell it from the high or not. If it goes up, then look to sell it off the 800 MA (Off the 200 now) in order to correct this WXY/ Diagonal crap it's doing. It would make sense pattern wise to come down from here, but I do see more up on the...
It is just sitting at the low. It is in a downtrend and fib wise it can extend down more. You see the daily divergence. the weekly shows more room down. Considering it did such a simple WXY 3 wave correction, I would expect it to at least do a running flat if it is going to plummet... But it may even go into a much larger corrective structure. I am not going to...
This is what is making me not so overly hot about the Eur/Aud sell, at least in any long term. GA looks like it needs to pull up. Best thing to do is wait and get in on a 1hr flag, but it looks like it will at least be creating more of this smaller corrective structure with the possibility of going up much more pattern wise. It can extend down more in this...
Cad index... But Weekly... Mind you. This is the pattern that seems to be playing out. We can still get a correction and one more down into the zone, but all the fibs measure out for a 7 swing...(From the low it just made). The "X" wave can be in different variations, but this is how everything seems to be measuring out.
I posted a possible spike up on Acad (but I have been talking about the downside for a while), and unfortunately have not been able to chart watch and update stuff. I just want to show you what I am looking at long term. Measures and counts to be making a 7 swing pattern that should take it down to that zone Long term. We got a correction and a breakout that...