After checking up on structure progress, we are about at the beginning of C Wave of Zig Zag ABC.
So far price is respecting 38.2 Fib Retrace Zone which gives me a hint there is more push to the bottom then most people think, these zones have not been contested as much to convince me to go long and buy in just yet.
M30 stochastics is still following so well with...
After allowing the market to play out, we have enough data to see that a Zig Zag 5-3-5 structure is in the works.
About in the beginning of a C wave of Zig Zag ABC pattern. Both H8 and H4 stochatics is still bearish in trend, and stochastics on smaller charts also support triangle pattern correction.
After correction we always have continuation of trend, this...
After a retrace that respects 61.8 zones on multiple time charts, we are now in a little correction area the respects the 38.2 zone trading sideways.
H4 charts has a bearish stochastic trend and M30 chart in an overbought condition, both supporting more down trend from here.
The way the M15 graph is moving reminds me of 5 impulse wave pattern, we had the first...
Now that down trend is settled down, will be watching closely to this correction area and how this plays in the Fibonacci Retracement zones.
What kind of correction ?
That is still too early to figure out, not enough market data or correction structure to properly trade this area.
If you are planning on buying, be prepared to get shook out being you are buying...
Real data perspective, stochastics have a bearish down trend, hasn't broken this trend, giving me the idea to keep looking for short positions.
Until that trend line is broken or a Bull Convergence is formed I don't believe anyone who are going long. Monthly charts also support this idea.
Current prices is at a deep retrace zone which hasn't shown any signs of...
After giving the market time to play out, we have a 5 wave structure in near completion, giving us a heads up that we may
have a Zig Zag 5-3-5 in development.
With other stochastics still in a bearish nature, I would find ways to find trades in this corrective structure, or to wait until Zig Zag is in near completion to catch the next impulses going down.
After noticing that both the weekly and daily are both in oversold condition, having people to think it's a time to buy even though we've seen a continuation to the down side.
If we were to take into perspective of a monthly chart we can see that we haven't got into a buy position, so all this time it's been bearish in nature.
I do have to admit there will be...
After a nice drop from my last post, I've been noticing that not much as happened since the market open.
H2 stochastics in a bullish trend, not meaning this is a reversal, reason being is that prices are still below fibonacci retracement areas, so there is not enough push to the upside.
No trends, stochastics on different graphs aren't in sync, and we are just...
After keeping watch of a very complex correction, looking at it from the the 4 hour chart, we were about finishing a Zig Zag 3-3-5 structure.
That triangle pattern is just at the tail end completing a H4 Zig Zag, will be expecting more downside from here.
After giving the market time to play out, I've been noticing too often that certain retracements are not backing a bull market or reversal.
Checked multiple time frames respecting 61.8 retrace zones. Stochatics on bigger charts support bear continuation oppose to a bullish run at the moment.
Even with that break out we had, that break out had respected a 61.8...
After letting the market play out we can see a retrace respecting the 61.8 zone and interesting to see the stochastics close to an overbought condition.
Eventually if this is a bulls side of the market, I'd like to see a 100% retrace, but if correction still respects this zone along with stochastics, then I still support a bearish pattern to the down side.
Now that prices hit TP and stochastics in oversold conditions, i'm looking for a retrace first, not reversal, don't get it twisted, we are still in a bear market, but at the same time I will be looking for possible reversals still.
Will be watching prices retrace in hopes the magic zones 61.8 and 76.4 will be respected, if it does, I can expect more short...
After giving the market time to play out, my original idea is out the door after seeing multiple corrective structures within a bigger corrective structure. Taking a look to a bigger time frame I can see this is setting up into a major corrective structure.
We are in the middle of Wave B corrective structure of possibly a Flat Correction or in the middle of a...
Alternate view to short position.
Correction structure respects retrace zones 61.8, at worse a deep retrace into the 76.4, but should never pass that, if it does, then we are looking at a pattern failure to the down side, and expect a bullish trend instead.
If I were to take into consideration the previous double top pattern @ 1.8720, that area had also...
Last Friday Flat Correction structure was about finishing up and into it's first impulse waves.
1st Wave is finished followed by a correction wave 2, which has a triangle looking patterns A-B-C-D-E.
After correction we all can anticipate another impulse into number 3.
Do allow the market to play out being this is not an easy structure to perceive being that a...
Last Trade day, we were in a corrective Zig Zag structure, looks very Bullish, but stochastics on multiple time charts support going down.
The whole corrective structure in itself respects the 78.6 retracement area, along with a double top reversal pattern on the top.
So while a lot of people were thinking reversal and bull, in reality we were within a...
Updating current idea.
After the big move down from yesterday, the graph is respecting the 38.2 retrace area.
Currently where it stands, this is in the middle of a correction area where most people will lose money thinking this is a reversal, when in reality this is simply just a correction.
After correction is always a continuation of trend, unless there is a...