EURUSD completed it's retracement to the 0.5 level of the yearly highs of 1.25 (confirmed by the double top) and we're looking at a correction on higher time frames. Using the Fib extension, we have room towards the 1.208 level where we will also find support. Medium long term trade, expecting to hit it end of February or later.
Very, very interesting PA on EUR/USD today! We see a double divergence on the Stoch (15,5,5) and the PA. First, we have a hidden bearish divergence (pink lines) and then after the break of the trendline (red line) we see a bullish regular divergence (yellow lines) which triggers the retest of the major (red) trendline. My two cents, is a continuation of...
Gold XAUUSD is currently in an ABC correction wave of the bigger Elliot Wave build up. The upward move was triggered by the RSI / Stoch divergence indicated by the orange line. Afterwards, a 12345 Elliot Wave pattern occured, which completed in the supply zone which was a great moment to take out some profits from the market (as I did). Following now is an ABC...
On the USDJPY a Bullish Cypher is building. Depending on the Initial Jobless Claims (IJC) we will get there sooner or later. I expect a downfall due to bad news again.
Entry Point: 109.9
Good luck trading. Do your own analysis. This is no investment advice.
This is the current situation of UJ. We can see a H4 (which might become daily) halt on the .786 fibo. Although this might indicate a reversal, given the current USD fundamentals and momentum (it's a huge bearish candle) I maintain my short positions for now. Good luck trading!
Depending on the outcome of the Yellen speech today we might break the trendline. Then the following plan will be traded. If we get a selloff due to the trendline, I'll trade short Fibo's on the last swing with TS towards bottom of wedge.
Countertrend trade. Trade it with caution.
Get some profits off the market after a 23.8 retracement, then let it run.
If you can monitor it and close it out on a nice long wick on 1.64.
lace stops at 1.65.
There is at least 60 pips profit in this one.