Hi guys,
Hope you all had a great weekend. I am expecting the GBPMXN to make a impulse move down, but the question is, is the correction over? I guess we will find out when price breaks structure.
Thank you for your support.
The weekly chart on GBPMXN is at a critical stage. A fall below an important trend line (in general) does not necessarily mean trend change - it depends on so much more. Price could still re-test the trend line in coming weeks. I'm also looking carefully for an aggressive and or filtered entry on the William Vix Fix (WVF). Of course the WVF does not rule anything,...
Traders,
We have some weak candlestick activity here suggesting the bears are coming into the market. I like the weak candles and the bearish hidden divergence. Expecting some really good downside here,
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Traders,
Nice move here with the lower low off the rounded top in the pull back area, after we had the bear impulse leg. Expecting long term target to be hit. We have a long term, and a short term 3 wave pattern showing there is weakness in the short and long term trend. A nice short.
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Traders,
Nice move here with the lower low off the rounded top in the pull back area, after we had the bear impulse leg. Expecting long term target to be hit. We have a long term, and a short term 3 wave pattern showing there is weakness in the short and long term trend. A nice short.
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Technicals
We have a Gartely pattern set up here. I am looking to go long at 0.03697, which falls between the 0.786 retracement and 1.272 extension along with 1:1 ratio between the AB and CD legs.
There is also a divergence on the Relative Strength Index from a heavily oversold condition, supporting a spike from around the current price.
Fundamentals...
