Perfectly as planned by the pip, GBPUSD visited the 1.2940 region again and our waiting long order was triggered, target 1.3500
Old chart attached , waves are perfectly counted, this is the bottom.
Previously closed our long from 1.2950 @ 1.3040, booking 90+ points, and here we reinstate a new position long for 500 pips from here
Good luck trading all.
Close your long position opened from 1.2950 yesterday @ current market 1.3040 (90+ pip)
Market looks like will visit the 1.2940 region again today, and nudge it with a couple of pips lower, then rocket up for 300-400 pips
Prepare to buy later today @ 1.2940 target 1.3500 (stop loss 1.2900)
Good luck trading all
I hate to say "I told ya" :) attached my previous chart.
Market went exactly as forecasted in my previous posts by the pip
Everybody else in the forums with their colorful meaningless charts and their fancy words like they know something was calling for buying, getting stopped, then buying, then getting stopped...Their excuse was "oh I'm a swing trader"...well no...
The wave count shows that we can not shoot up from here as many are assuming. The count requires a double top in the 1.32XX region (where we're going short around 1.3220) followed by a double bottom in the region of 1.29XX (we'll target 1.2935)...it should shoot up when it double bottom, for now we're shorting 1.3220 targetting 1.2935
Good Luck All
On the minor wave count, there must be a rise (probably before the news) from the current level 1.1080 to the region of 1.1120 before EURUSD collapse 170 pips down over the next couple of days
Prepare your shorts around the 1.1120 region. I will do 1.1115 if I saw it.
Advice not to go long in this correction from here to 1.1120, minor count can be tricky and this...
Closed my previous long from 1.1082 at 1.1095, lockin in 13 pips again today,
There are two scenarios for going down, I don't want to get caught on the wrong foot here, buying corrections when the market is poiting down
As explained in earlier posts, our ultimate target down comes at 1.0850...we're in the middle of the big 3rd wave, and any moment now an...
Closed previous short position from 1.1095 at 1.1082, locking in 13 pips .. I see the 2nd corrective wave of the bigger 3rd wave downward needs a final leg up around 1.1120 area
So I see we're visting again today the 1.1120 region, then resuming downward, and it will be a fast and steep down
Bought at 1.1082 now target 1.1120, then will short from there
Happy trading all
Closed my previous long from 1.1085 @ 1.1095, locking in 10 pips, because i see this is heavy, it needs a lower low at 1.1065 before any bounce up to the 1.11000 region before resuming down again.
Still the picture down targeting @1.0850 as I called since months ago
Happy trading all
I still believe we're going to 1.0850 as I explained in my previous posts, However.....
for today, we have a 50-60 point to catch on a correction, or probably a new count if I was wrong...so either way, it will work for the longs favor today
Whether it was an ABC and the trend is UP, or the trend is down and that was 1-2-3, either way we're going up from here at...
Closing my previous short at 1.1100 as I see the minor waves has completed as shown in the wave count, and it would be a correction up for the rest of the day.
I hate to leave an open position during the weekend, because this is the lowest we'll reach for today so it's better off at this level.
Possible alternative scenario, but so far I'm sticking with my view...
After closing previous short from 1.1141 @ 1.1107 locking in 35 pips, we just sold again now at a higher correction @ 1.1127 targeting 1.1000 as initially planned
The market is on the minor 3rd of the bigger 3rd, today and tomorrow will be steep down
good luck trading all
Closing my previous short started at 1.1141 @ 1.1107 locking in 35 pips, the movement is slow and the smaller count looked suspicious, I am flat now because there's a possibility of an alternative scenario
Break below 1.1084 wlll confirm the initial idea of the 5th wave down, until then I am flat
Good luck trading
For those who hasn't been following my previous EURUSD Elliot Wave analysis, EURUSD 4th wave upward correction was established at 1.1242, and since then we're on the way down till 1.0850 before any future rise.
As I explained, the market still didn't bottom yet, and need a final lower low that should happend around the 1.0850 region.
Today on the short term view,...
As I predicted since last week peak, shorts are on the way till 1.0850 on the bigger time frame.
Today's action with the NFP news will be zigzag downwards, minor waves downward. For short term traders: sell on every up correction, targeting 20-30 pip scalps
Ultimate target of Wave 3 would be 1.0950, then sidways for the big 4th, before resuming to the final low 1.0850
The corrective upside is over.
On the bigger frame (the weekly) the wave count still require a final 5th wave down to complete the big ABC started from 1.2560, targeting 1.0850
Holding Shorts target 1.0850
On the weekly frame (the bigger picture), EURUSD hasn't bottom yet, and still need to reach a lower low around 1.0800 before any major move up. The wave count downwards that started since 1.2560 didn't complete yet.
I believe the recent high around 1.1200 which I marked as wave 4 was actually the end of the 4th wave downward, and Friday's gains was just an...