Is 0.73-75 where this is going?! Or are we already on our way to 0.95+ and we're in a confusing correction?...
Although the weekly candle hasnt finished yet, the fact that we formed a pin bar/hammer on the last candle and this candle is heading straight down (thus far) is BEARISH. Also note that stochastics just kissed and is heading down again... still more down in my opinion...
My last chart I published was to go short - just adding in this channel... we may have more upside first believe it or not to hit the top trendline! It's a possibility and might catch everyone off guard? But, if this happens I'll still be looking to short... corrections can be notorious and go higher than one thinks... let's see... remember the weekly stochastics...
Ambiguous, but could be a triple zig zag on UJ... the recent price action on the lower time frame still look corrective so I'm expecting one more down... if we do get that, it's long time for me! The daily stochastics has almost unwound and the monthly candles just look corrective - certainly not bearish from experience of candlestick analysis. Bear moves happen...
I was hoping this was gonna get to 1.42 so I could short this long term retracement. However, I think I may have missed the boat on a truncated C wave... will watch PA and look to get in short
Check out the weekly negative divergence on stochastics!! Also, inability to reclaim the trend line. Although we are sitting on all the EMAs, the down pointing weekly stokes are good enough for me - esp on a weekly chart - the monthly stochastics seems to be turning down from overbought to now... im defo shorting this pretty much immediately, although hopefully on...
I DEFINITELY want to short this pair, but when?! After a little correction, or will we see a bigger C wave to 1.46?! It is possible because it is unlikely. Just to mess with people's heads after they all think they can now short :p The last C wave technically could have already happened, that is why im not sure. However, the fact that AU has a half decent chance...
Contrarian trade idea... AU is still not exhibiting impulsive price action in my opinion, so I think this correction still needs one more move down before it goes up... I am assuming this is still wave 4 within either a much larger move up or a wave C correction... who knows, but what i do see with more confidence is that there technically should be one more move...
All, the only way to explain the PA is with a corrective abc. Triple zig zag for A, zig zag B, now I think a double zig zag for C
Looking to short and get to the lower trendline around 1.025 ish. See how stochastics is rapidly unwinding. I've noticed this is a classic sign of a correction/retracement ready for next leg down. Where to short from though... there are multiple probabilities but will also use overbought on stochastics and reference RSI (maybe 60), to take the short. The daily...
... sorry for so many charts of the GU, but I also just noticed the *possible* support on the Stochastics and the RSI... hmmm...
As per my last chart, but with some trend lines drawn on - notice how the upward sloping trend line at the top also hits 1.575 pretty much exactly, which is where I see a 5th wave ending??!!
Are we already in a bull market of a larger degree wave c of a wave 4? I would defo appreciate some checking this wave count I have here...
Wow, if this happens, i'm going mega long at 0.8467 ish! This also seems to fit into my idea of GBPUSD going to 1.75. This pullback in EURGBP I think is Wave 2 of larger degree 5. Therefore going long at 0.8467 ish means that (if correct) one could be riding a wave 3 of larger 5 - wave 3s are big! 0.8476 ish is a nice support area so the stop can be fairly tight...