Notes on chart. Targeting 111
Very tricky situation. wouldn't short until 13325 breaks, yellen, and cpi data
I have wave 5 extension completing 1.05527 at the 2.24 bc extension of the bearish 5-0. abcd pattern compliments this support level as well along with the inverse pitchfork that's provided an accurate range. I believe price will trade lower and bottom at the Asian open. 1.06057 becomes the line in the sand for the bulls.
Looking for support at the 50% retracement of the bullish move at 1.0585.
2265 (lower time frame) held a bullish 5-0 but as you can see we have resistance at 2307 (1.618 ext from 11/2015H-02/2016L). I also have an inside pitch thats serving as resistance. If 2265 breaks, im looking for the 50 at 2056. Will link lower time frame
>1250 will put the bulls in charge. If not 1250 becomes wave 4 that begins 7/2016 down swing targeting shark at 1080
if king dollar closes below 12300 today, there is no doubt the rally will be tested. WATCH 12120-00
looking to go long at 1.2345-1.24 (wave 2) targeting 1.32779-918 to complete deep crab
I believe the pound will be the best performing currency this year...thats just my gut feeling. Bullish butterfly complete at the head of the pattern in 10/26/16. Targeting .618 CD of butterfly which aligns with tl confluence. There is also a kaine pattern that would complete 1.87104. An inside pitchfork marked at the 08H/13L/15H clocks support at 1.60 with the...
look for bigger pullback if 1.065 breaks. Still looking to test 1.098, which I posted months ago.
Deep crab (blue) completes at 113.411 in conjunction with kaine pattern I posted earlier. See link
Looking for support at 1.052 to go long for one more push higher to complete bearish deep crab. (red line on right shows reverse abcd)
Dollar should bounce back today. However, gains will be limited. Will retail sails provide direction or investors more concerned about Trump policy?
Median from inside pitchfork with bearish candle has me looking for more downside. Moves will be quick imo. Targeting 113.5 if breaks below 115.5
T1 would be cypher 1.07457 completing wave 3 beginning this year Look to BTFD after wave 4 completes (1.06 negates bullish run) to target deep crab at 1.085
Purely hypothetical but tl has proven to be major resistance