Seems like EURUSD is moving in a corrective Wave Y to the upside which is very near to the 38.2% upside retracement, from a short term perspective, longs can be looked out for, keeping in mind that they would be counter trend trades, most likely.
Possible Ending Diagonal forming to the downside on EUR/USD could lead to prices moving lower but not too much, if the pattern plays out as expected, we may see a strong pullback. Let's wait and watch.
Continuing on from the last post, where Gold fell more than 1.4% after I posted the short setup, here we are once again, in what looks to be another impulse down for possibly Wave C, suggesting that the market can see lows near 1842 and possibly much lower.
We can take partial small entry, as the move is already too strong and then waiting for corrective...
It looks like the corrective move is still continuing as a Triple Zig Zag corrective structure to the upside with the current Price Action in the second W.x which is either still continuing as a Triangle or already complete.Strategy : In either case (Continuation or already complete W.x) we look to initiate longs with SL below W.x low and targets above 1243.
Euro : 4H : Looks to be moving in a Triangle formation for W.x . We wait for the completion of the pattern to initiate shorts.
If we see a straight out move to the upside above the current W.C Cir. level then that would mean that the Triangle pattern has been Invalidated and a review would be required.
The short setup suggested in the last post failed. The market moved straight up for what looks to be W.C of the suggested Triangle pattern .
As of now it looks like we are in corrective W.4 of W.(C) of this pattern.
Strategy : We wait for the completion of W.(C) to the upside in the white resistance zone . Once the same is complete we will look for reversal...
SPX : Flat correction for W.B Cir. looks about complete, we are looking for one leg down as an Impulse for W.C Cir.
Strategy : A break below ST line which is also the high of W.1 of last Impulse can be taken as a sell trigger, with SL above swing high.
15 min. :
Crude : 1H : Updated : Looks like more downside is remaining in this market. From a short term perspective either Wave 3 is complete or still continuing.
If still continuing then we should see more down move from here as an Ending Diagonal.
If Wave 3 is already complete then we expect sort of Flat formation for Wave 4 as represented by the Red arrows.Strategy :...
Euro : 30 min. : Either progressing as a w-x-y to the downside or a nested i-ii-i-ii progression, in either case sideways to bearish movement is expected, however a proper short entry in the form of pullbacks is still awaited.
4H : Wave 4 is either complete or is still continuing as an Expanded Flat.
Strategy : In either case from short term perspective we should be to looking for longs. Buying near the low of previous Wave 4 with SL a little below Wave .i/.a high would be ideal if the market permits the same.