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We have some important support right now,
61.8% retracement level
A = C,
support from previous wave 2.
If price does not go below 123.60 invalidation level, we will see price rally higher!
(!! Beware tonights BoJ Conference if you take any JPY trades!!)
Looking for price to go up to 8.7 as first target.
Time Fib and Fib projection (extension) perfectly align around 8.48 and indicate the bottom is in place.
Any move below 8.40 invalidates the count but you can stop if price comes below 8.46.
We should have finished a 3 wave correction for larger degree wave B and should now look for higher prices for wave C.
This push higher can be counted as a 5waves move, maybe wave 1 of larger degree.
We should now be in a flat ABC correction for wave 2.
Once wave C of 2 is in place around the 50%-61.8% ideally, look to buy and go after 3.0
The count gets...
This pair has made a 3 waves move down with a somewhat nice move up now which could be wave 1 of a large impulsive wave up.
There is still an unfilled gap around 124.30 so expect price to go down fill it first before rallying.
That will be a good entry point.
This count gets invalidated if price moves below 123.63.
We are in a Triangle formation and we should very soon see price go down for wave E.
We should ideally see a 3 waves decline.
Note that wave E sometimes is quite small so that it doesn't have to touch the lower trend line.
This count gets negated if price goes above wave B and below wave A.
We should be in this wave 2 playing out as a Flat correction with wave B being a complex WXY correction.
We can also see strong divergence which indicates price will go lower.
There was a gap around 3500 and price has a tendency to fill those,
therefore, look for it as a potential support and buy zone.
This count gets invalidated if it goes below 3300.
We should be in a ABC correction, currently in last moments of wave (c) of higher degree wave ((b)).
I expect one more push lower to the 78.6% retracement level which should act as support.
If price goes below wave ((a)) low, the count gets negated and most probably the ABC correction ended at 1.5230 with a very small wave C.
Pending long @ 1.4950x -...
We are in an ending diagonal for wave C.
There should be resistance from around 61.30 to 63.10.
Once this pattern ends, expect price to fall hard down to at least the beginning of this pattern.
Don't start shorting just yet, wait for price to start to slow down at the resistance zone, also look out for bearish divergence first.
We got an impulse down followed by a correction higher, meaning lower prices are coming.
Price is currently testing the 78.6% Fib level, if it holds, we should see an impulsive wave to the downside.
This count gets invalidated if goes above 1.3470
We are currrently in last wave C of larger degree wave B so we should see a push higher once this ends.
We now might have completed wave 3 and are currently in a corrective wave 4.
After one more push lower for wave 5, where support might be found around 110.00,
we can look to buy towards 114 as first target.
We got a nice rally yesterday thanks to the FED,
Price is currently retracing back that move, taking out all those who went long on that rally.
We need to wait for this pullback to end, which can find support at previous wave (iv) and descending upper channel line
We also have the 38.2% & 50.0% Fib retracement levels there.
It might go a bit lower but as long as...
We have been in a Triangle that has been lasting for more than a year.
We could finally see the end of it!
We might see one very small push lower but in the end I expect it to go up!
This trade has a profit potential of 1:10 to 1:15 !!!
Buy around 265 - 270, where wave C equals wave A.
This trade is valid as long as we remain above 245!
We have been in a Triangle pattern for the last months and it came to an end on March 7 at 0.6744.
We got a confirmation after price made a 5 waves rally to the upside followed by a 3 waves corrective move lower and now starting to go higher.
We should now see price go higher to 7100 - 7300 as long as price remains above 6744!