We just comlleted a complex 4 wave down of A-E elliot wave structure. ( On support of wave 1) IF all plays out and the left shoulder is correct .... we completed the one leg of the head and are looking to go up again to complete the head, and then start the right shoulder. (In other words) ranging.
Let me know what you think.... I did open a buy position of this...
We had quite a pullback on the last day before close on NU but i am not convinced that this is enough.
We in a serious down channel due to sharply down trend it is my suggestion to wait for the rejection at the upper channel line and enter sells from there to avoid the consolidations.
should we break the support line 0.62000 Can come into play as next...
COT wize we increased int he bullish trades for the week. I am NOT particularly interested in trading it for now but could be profitable if trend line is broken. Otherwise we might see sideways movement for this pair for a day or 2
We increased in net positions from 34k to 40k.
We are on the bullish side which increased
We mentioned in the COT report that GBP shows more bullish and we can see that in the price as well. we closed above the weekly pivot of 1.40873. with the current channel forming we could see another move upwards to 1.41526 and 1.41658 levels. Should we break...