EURObull

EURObull

The broken head and shoulders box (right shoulder) has held nicely. EUR/JPY came down for a double test, cleared out weak longs, cleared long stops, and suckered in fresh shorts. Quick reversal and strong buy candle last hour, we added to our long position at 135.08 and 135.09. Long targets still valid: Target 1: 136.00 Target 2: 136.40

EURObull

This last thrust down cleared stops from 5.06.2015 longs and also suckered in fresh shorts. Long targets still valid: Target 1: 136.00 Target 2: 136.40

EURObull

Nice short and we had a limit long sitting out there to pick us up at 135.21. Target 1: 136.00 Target 2: 136.40

EURObull

Wave 4 tends to chop around for a bit, then usually a sharp drop comes, luring in fresh shorts. It then reverses to get back into Elliott Wave 5 for long target completion. Looking for Wave 4 to end somewhere around 135.22 to 135.00 then take off long again to 136.00 long target.

EURObull

Added to our short position up here at 135.59 and more at 135.68, targeting 135.22 area for wave 4 pullback.

EURObull

Looking for 30 to 50 pips on this Elliott Wave 4 pullback. Once complete, we will look to get long again for target of 136.00 See our 240 chart for a more clear view (just realized we cut off the top of this 60min chart somehow).

EURObull

Looking for 30 to 50 pips here on wave 4 pullback. Once wave 4 pullback is complete, we will look to get long again to 136.00 target.

EURObull

Looking like we've just completed wave 3 of 5 of Elliott long.

EURObull

Yesterday's 135.00 target was hit perfectly overnight. EUR/JPY is looking like we are currently in wave 4 of 5-wave Elliott up move. We are not showing a true sell signal as of yet, so we are not shorting at this time. We will be on the lookout or a potential quick short, or re-entry long for our target of 136.00

EURObull

With the FED so close (about 4 hours away), we have moved all take profits on all longs to 135.00 We'll see how EUR/JPY handles it in the morning. This broken head and shoulders (bullish) could easily become a double top (bearish) around the 135.00 area.

EURObull

We're too close to the FED tomorrow morning, so we moved our protective stops up to 134.33 and take profits on our longs are set at 135.00. We'll need to see how EUR/JPY handles the FED.

EURObull

Really nice A-B-C pullback here on EUR/JPY on our 240 chart. Adds another layer of confidence in continuing our long bias. The super slow action today can be frustrating, just hang in there and position yourself so that if our long bias and this setup makes sense to you , you'll be "buckled in" when the ride leaves the station!

EURObull

CCI on 240 still looking great. Layered in longs as EUR/JPY moved down 30 pips from this morning. Target 1: 135.00 Target 2: 136.00

EURObull

Choppy price action designed to confuse traders. CCI confidently spiked back over our established 3-month (red) trendline.

EURObull

Compressed the 60 minute chart, so the head, left shoulder, and right shoulder are visable. EUR/JPY price is now moving up through the 134.30's for our long entry this morning. Target 1: 135.00 Target 2: 136.00

EURObull

Price should break out of this box, come down to reset on the top of the box (right "shoulder"), then take off long to our 2 targets.

EURObull

We are in the early stages of what could be continuation back into our long territory. Notice now how the CCI line has pierced back up above the red trendline (by blue arrow). This could be extremely bullish. We are long and looking for: Target 1: 135.00 Target 2: 136.00 Also note that the Head and Shoulders formation I mentioned on our 60 minute chart (if...

EURObull

Found what looks to be like a nice Inverted Head and Shoulder's Pattern: quotes.ino.com Have one of those "gut" feelings that the short pullback may very well be over during last hour's bar on our 60-min chart. Watching our 240 CCI for a strong pop back over our red trenline.