AUDUSD continues its slide going into NY session after last nites data coming out from china showed a very weak PMI number suggesting a continuing slow down in the worlds second largest economy. Given that China is the largest trading partner with Australia it raises concerns as to the increased demand for the commodity driven export sector of the Australian...
BEARISH BUTTERFLY AUDUSD 60MIN
#Bearish Gartley # Head And Shoulders # .618 Retracement # Bearish Butterfly
#BEARISH GARTLEY # ANDREWS PITCHFORK BREAK # HEAD AND SHOULDERS
GBP/USD continues to show weakness after yesterdays drop after the minuets, prices broke a symmetric triangle which most commonly occurs at wave 4 positions under the Elliott wave theory. The 1.5800 price level should provide a good support area were the lower trend line and Wolfe wave regression line converge.
USDJPY looks to continue it upside today into the FED FUNDS which are due today a 2:00. Through UK trading prices broke a constricting wedge only to find a floor at the 50% retracement level. Prices are currently struggling to break through the 108.15 level which is labeled neckline, should prices resist off these levels we should see support around the wolfe wave...
The singularity is upon us lol Stop: Placed below 47.00
USD/JPY REVERSAL AFTER 8:30 DURABLE GOODS ORDERS NUMBER SEEMS TO BE MAKING A BOTTOM. PRICES ARE RESISTING TO BREAK THROUGH THE PREVIOUS INVERTED HEAD AND SHOULDERS NECKLINE AND HAVE FORMED A MORNING STAR REVERSAL CANDLE STICK PATTERN ON THE LOWER 21 DAY BOLLINGER BAND LINE.
IRIDIUM #INVERTED HEAD AND SHOULDER#CRAB HARMONIC#MORNING STAR REVERSAL#BULL FLAG
SO I GUESS THIS WHAT HAPPENS WHEN YOU STARE AT COMPUTER SCREEN FOR 12 HOURS STRAIGHT. #HARMONIC BUTTERFLY#INVERTED HEAD AND SHOULDERS# INVERTED HEAD AND SHOULDERS WITHIN A INVERTED HEAD AND SHOULDERS#BULL FLAG BREAK#OUTSIDE CANDLE STICK PATTERN ON 60 MIN. THERE MORE I JUST DONT HAVE THE SPACE LOL
USDCHF LOOKS TO CONTINUE ITS TREND TO THE UPSIDE GOING INTO NEXT WEEKS FED MINUETS AND RATE DECISION. GIVEN THE SUPPORT OF THE CENTER LINE IT IS HIGHLY PROBABLE OF RETEST AND OR BREAK OF THE UPPER TREND LINE ON THE ANDREWS PITCHFORK INDICATOR. MANY EXPECTATIONS POINT TO A DOVISH FED MINUETS GIVEN THE EUROPEAN SLOW DOWN AND STRONG DOLLAR WHICH CAN PUT A DAMPER ON...