WolfofElCerrito

WolfofElCerrito

Thanks for reading.

WolfofElCerrito

Thanks for reading.

WolfofElCerrito

Thanks for reading.

WolfofElCerrito

Identify - 0.76000 has acted as resistance - Small bearish PA at the time of this writing Predict - Wave 2 is coming - 2.272 Fib confluence with multiple technical tools around the 0.73500 Handle - However there could still be an ABC corrective pattern forming Levels to Watch - 0.76000 PSY - 0.75000 PSY - 0.73500 PSY

WolfofElCerrito

Identify - PA making a wedge formation - Resistance around 0.382 ( 0.75863 ) Area Predict - Bearish movement probable - Break below 0.236 (0.75496 ) would open the door to test the psychological 0.75000 Level Key Levels 0.75862 - 0.382 0.75500 - Psychological 0.75000 - Pyschological

WolfofElCerrito

Identify - Current bearish PA has reacted at support at the psychological 0.75000 level - Bearish price action is signaling a change in trend that coincides with WAVE E in the Elliot Wave pattern depicted in this chart. - RSI is not oversold yet; so bearish trend is still valid Predict - Waiting for a much larger and faster WAVE 2 - This wave will most likely...

WolfofElCerrito

Identify - Elliot 5 wave impulse - ABC correction hitting daily 0.382 Fibonacci Confluence - DXY hitting 0.618 Fibonacci - US Pairs in need of US Bulls

WolfofElCerrito

Bias for bullish direction - Possible ABC trend continuation - Daily Bullish rising wedge pattern due to make new highs - Completion of bullish cypher pattern Risk - Break below orange 0.382 Fib would show more correction to the 0.382 Larger timeframe fib

WolfofElCerrito

In my previous post i thought price action would reverse at the powerful 6.18 fib now it seems that price must show some bullish direction after hitting the 786 any movement below the green support szone would make my analysis invalid. If i get stopped out thats fine, decent risk to reward if price goes in my direction

WolfofElCerrito

- Price action hit 50% fib, - watching to make new highs

WolfofElCerrito

Recent Corrective price action on the GBP/NZD Hit 50 fib, hoping for a break of the channel and some to new structure highs

WolfofElCerrito Updated 

Just an in depth updated view of my previous usd/cad post Warning! - just an idea, not a trade call - this is counter trend, especially the nature of this pair can keep rocketing up!

WolfofElCerrito Updated 

Identify - broke year long consolidation - 5 wave impulse down - ABC corrective wave forming - Break above wave a would confirm wave c

WolfofElCerrito

Identify - Bull Run seems exhausted - Candlesticks aren't as strong Predict - If recent price action fails to make a new high than we might see some corrective structure - Price action could only form a small flag and still push to make new highs past 0.5 Fib Decide - Counter Trend, so trading this is risky.

WolfofElCerrito

My thoughts on where the NZD/USD is going next

WolfofElCerrito

Watch for the breakout

WolfofElCerrito

Identify - Price action already showing bullish direction - Pair has hit 0.786 fib retracement of 1-2 Inpulse leg - NZD has still maintained a bullish bias Predict - 0.382 / 0.618 confluence of both impulse and corrective legs - Possible ABC pattern forming - Bears need to take a breath and enjoy some profits - After huge USD strength, time for a...

WolfofElCerrito

Reasoning - Way overbought - failed to make new highs - double top - break of bullish trend line