Last idea on AUDJPY went well, and I believe that more shorting opportunities are going to continue to exist. Playing off the 61.8% region, which also has a strong resistance area is my next choice of entry. However, entering a short right now as well may also provide a good opportunity.
Sorry for the inactivity for the past month, but now im back!
Going to playing the breakout like always. NZDUSD made a beautiful retracement, and from the candlesticks, it looks like the bulls are running out of steam and that the bears are making a come back.
Gold rallied back up 1224.95. This should be great region to execute some short positions to capitalize on the potential 5th wave. However there is a potential that it head higher to the 61.8% region before turning around.
GBPJPY is showing a lot of signs that it will continue lower. With prices failing to break the downwards trend line, and a breaout on a pennant formation. This is giving me some strong confirmation that the pair will head lower
From my previous post I stated that EURUSD completed its 5th wave, however I was wrong on the wave count, and it actually completed its 3rd wave (sorry guys). I expect the pair to follow its 4th retracement at the moment down to 1.1335 before heading back higher to 1.1460 levels.
NZDUSD broke a major resistance line on a daily timeframe developed since June 2015. My play on this pair is waiting for a pull back towards the 0.68625 before entering a long position. I expect the pair to head to 0.70221 in the near future.
EURUSD has been steadily going higher and higher, and if my wave count is correct, I am expecting a 5th impulse wave up to around 1.13500. Personally I am waiting for a clear signal to see a reversal on the current movement.