Moving up on an 5 waves impulse wave (c) for completing correction (4), an expanded flat, before the last leg (5) down. Setup short when (4) terminates & resume trend.
It's clearer after FOMC, this pair is advancing on a 5 waves impulse (c) for completing correction iv ( a running correction), before the last leg down on v. Immediate term - long.
It's a very deep retracing 2nd wave, otherwise, ..................... it's back to the drawing board.
Flat correction (4), a bottoming pattern amassing around the 0.6182 x {3} retracement level, before the last leg (5) down. Long term view:
Last leg v of larger correction (4) due to complete near 0.6182 retracement of (3). Sell at the top of iv, target 0.6182 retracement, SL at break of upper channel line.
Almost ready for a long term advance on a 5th wave {v} of ending diagonal C red. SL at break of wave {ii} bottom , target top of (a).
(b) wave of zigzag retraced just short of 0.6182 & a sign of push up, resuming on impulse (c). Adding positions with SL near 80% retracement
Present minor Ending Diagonal wave (c) within larger c wave EDs Long term perspective: H1 wave count and setup for longs: i.gyazo.com
Well set for a zigzag wave v down of an ED wave (c), towards target just below 0.6182 x {iii}. SL at break of wave ii red top.
Wave count of a wave looks almost complete, poised on an impulse wave down - for a 2 weeks trade.
This pair is consolidating in a bottoming pattern, amassing about the 0.6182 retracement level, while opportunities presents for range trading (blue arrows) in the coming week.
Since November 2014 low or bottom of (4), this pair has the potential of forming an ending diagonal (5), by looking at the presence of zigzags in each waves - while wave iv is due for overlapping wave ii in the coming decline. Thus, setting up short on the wave (5) purple of ending diagonal (c), SL at break of wave (2) top - for trading better R/R. Long term...
A 5 waves impulse (c) is yet to complete correction {iv}, likely retracing 0.6182 of the extended wave {iii} . Long term perspective:
wave iv retraced 0.6182 of iii and wave count looks complete. Now poised to resume uptrend on impulse v with several targets. SL at break of lower channel line. Longer term perspective:
Rally from 15th October has been typical of an impulse wave (c) with an extended wave v. The decline from recent top has been corrective of a wave {iv} correction, retracing towards 0.6182 of the extended minor wave {iii]. Setting up from there with small position for a short burst up on the last leg {v} ........ for trading with the trend Long term perspective :
Now on Impulse wave c of (b) down, in the middle of larger complex expanded flat correction (4). A much bigger 4th wave (4) than expected - a typical complex 4 alternates with simple 2 :
Ending diagonal wave (c) intact, completed wave {4} now moving up on {5}. Going long, SL at break of wave {2} bottom.
Wave iv of larger impulse (c) poised at the optimum retracement of 0.6182 x iii, waiting on news? for a rally on impulse v. Setup long with SL at break of lower channel line.