Price action is touching higher timeframe trendline en will have higher probability to come down again.
Also M in production to produce its third leg down.
With Fibonnaci in place, my projection TP is back down to the 100% fibonnaci.
Wait on Price action on the 1 Hour Time Frame. (Sell position)
The monthly chart (earlier published also) is working nicely with its Fibonacci levels.
At this stage, it is into a retracement, where I take the 38.2% as a minimum level to hit.
This level is around 1.14230
today we had a major move down, in where we also broke the neckline of a head and shoulder formation on the daily chart.
I expect for tomorrow a...
The EURUSD on the monthly chart shows us a great Fibonacci movement from the downside up.
As we can see, there is formed the A and the B, and it seems to be in the retracement now.
As rule, we take the 38% Fib as a minimum goal, but it could be also lower.
For this trade, I planned TP at this number and will tune in to watch a buy setup for the long way up.
USDJPY 4H chart
Price is below 14 EMA, so we observe downtrend in price action. In this case by breaking the trendline below, we can see price movement towards the monthly pivot of October.
There is even a missed weekly pivot at 110.090 for second TP
But be careful. The daily chart is above the 14 EMA and needs to cross to reach the monthly pivot.
USDCAD 4H chart:
Price is retesting the 14 EMA-line and will be interesting to stay tuned. or price moves up again, or will break the 14 EMA down.
If it breaks the trendline it will fall down with the intention to mark the monthly pivot.
TP is monthly pivot of October at 1.235
EURGBP 4H chart:
Price crossed the 14 EMA-line and is now doing a retest.
We can choose either for waiting to cross the trendline before entering a buy or placing a buy-stop above the first full candle above the 14 EMA.
TP is monthly pivot of October at 0.893
Be carefull, the daily chart is still in a downtrend.
The EURGBP is trying to get back to the level of the 200 EMA
Due to traders getting their profits, it seems the start a retracement. According to the theory, it will make the last move down to get back to the level of this 200 EMA.
Check the 4H chart to see the best point to enter.
When a full candle is under the 14 EMA line.
The EURUSD has topped again above the 14 EMA.
It still is struggling against its uptrend.
It also tried out to get back to its 200 EMA level, but it didn´t succeed.
As the theory works, price level needs to come back to certain levels. In this case, it is the 200 EMA.
We can see that price moved now 360 bars without coming back to earlier levels.
We still can...
Still waiting on a BOOM up
A monthly pivot can be a very strong magnet when it appears as missed during it´s period
Wait for a candle above the 14 EMA.
Because of these high speed movements, maybe see the 4 hours chart also to get in at a good place.
This one is definitely going down towards the 200 EMA.
Wouldn´t be any surprise if the NFP for Friday will be very positive to run it downwards.
But the mayor move is UP, so after the "touchdown" at the 200 EMA I also suppose a strong bounce back up.
Weekly chart: in a downtrend and struggling on the 200 EMA line.
If this breaks and continues lower, we could see a move down in long term towards the missed yearly pivot of 2015 and the missed yearly pivot of 2014.
Like 2000 pips lower
The daily chart has crossed the 14 EMA line and will try to change the down swing into an up swing.
Today´s candle is making a retest. If this holds we will start going up.
The 4h chart is showing the same reaction.
Entry after trendline break or a buy stop at the top of the actual candle.
Almost all the cryptocurrencies have touched there Monthly pivot of August, but Gridcoin Research not.
The month is getting on its end, and needs to close with a clean chart.
We hope to see a bullish move during the next 5 days.
Gold 4H chart:
We can see a triple top, but also a channel where price level just touched the upper level.
And Overbought signal on the RSI.
With the candle at this moment, we can see the struggle between bulls and bears. (Who will win this time?)
What I expect is a bearish movement again. This time towards the monthly pivot of August at 1248.5
Lets hope all...