Nice and strong company but trend has been exhausted. Ending diagonal. Minimum target at 72.
Looks like multi-year downside correction is over. Target for wave C = 1259-1437 (1.272-1.618 of wave A).
It's unpopular count as many call for immediate short down towards sub-parity. The idea is simple - we got impulse up from 2000 low and now we are in a long term correction which shaped a very nice Falling Wedge pattern. None of the trend lines were broken so the model is valid. The wave C up should be impulsive with minimum possible target at 1.75 level where...
If waves 1-2 of C have been finished, then we will see a huge drop below 1.10.
Target = 0.618 of 1-3 = 137.99 Invalidation is below 82.16 (wave 1 peak)
the pair finally got back in range breaking the downtrend. the move is very strong as candlestick has no wicks and it can potentially shape Marubozu candle. it's good to wait for the correction on 4H chart to get in for 1.13.
Wedge consolidation offers a good opportunity to plan the trade. Target = the widest part of the wedge subtracted from the break point.
the metal is still has room to strike - maybe the last time before larger consolidation.
we got a breakout of the falling trend. risk/reward favors longs. 0.69/1.08 is in the game.
This pattern offers a very good long opportunity. Target 0.8159 after the breakout.
Monthly chart. The midline of the downtrend rejected the price advance in June. The 1990 top area and 2008 low area have the potential of support. The game now is within 38-53 range.
Monthly trendline awaits it's destiny with NFP report due today. Breakout would be followed by pullback. Retracement will relax overbought situation for a new hike.
We got a very nice 61.8% correction with the expanding ending diagonal in wave 5 of (C). First move up and first retracement are already in place. Good to long.
we are still in a giant flat. white rectangles show possible repeat of PA. good to short on a pullback to broken trendline let us see.
Description is on the chart
This is supplementary chart to my 4H chart with updated top.
It looks like structure has changed as we have massive selloff. Wave B often drops to 78.6% area. It coincides with the channel support. In this case wave C = 1.618 of A would bring the pair to 1.1682 +/- the gap around 78.6% pullback. Watch 1.1164 area for potential reversal. Below 1.1220 - the previous 5-wave impulse count would be invalidated ( ) This is the...
Price is finishing extended 5 of large 1. Good to wait for 0.618-0.786 correction for buy/add.