This corrective structure until now looks like it is an expanding triangle, in case it is, it will have 5 waves within it so im expecting downside then another move up then after that 5 waves are finished and we'll be looking downside.
GBPJPY is in correction after this last 1H impulse up, I'll wait for it to complete the abc structure, and will look to buy 0.618 fib level which is riskier entry.A more conservative entry would be to wait and buy the breakout targetting 134.90.Trade your plan
I'll sell the breakout of trendline after a minor consolidation on lower timeframes confirming that it wants to go down, first target would be .6850 then from there depending on structure I'll be managing the trade.Trade your plan
EURUSD may move a little more upside but im not interested in any buys right now because this is a pattern that'll break to the downside 90% of the times, and we have divergence confirming the sell so I'll be looking to sell the breakout after confirmation on lower timeframes.Will be holding until 1.1220-40 area if it gets there and I'll put it in breakeven in ...
This setup is looking pretty clear , we have an impulse to the downside, it was correcting until now making an ABC correction now it looks like it wants to break to the downside for the next impulse which will be likely to hit 111.70 area.I'll be looking to sell this after a sell setup appears on lower timeframes. Trade your plan
Looking through dollar index we're on a corrective phase right now.We're looking to break the correction for more upside until 97.00 area then from then we would have an ABC correction finished so we would look for downside targeting 94.30 area.So the way it looks now we'll have an upmove to 97.00 then downside to 94.30.I'll be looking to enter after confirmation ...
USDCAD is in a corrective structure which is a 3 wave correction until now but it may go for a 5 wave correction before breaking. I'll be selling the breakout when it happens, and if you're already in the sell, I suggest you put it to breakeven in case it decides to go for a 5 wave corrective structure before the next impulse down.
GBPUSD it's on the B corrective wave, I m looking to go short for the C wave after a sell setup appears on lower timeframes , which will complete the ABC corrective structure before heading for the next impulse up. Trade your plan
Since it is in the completion of the C wave of a corrective move, EURAUD could turn upside anytime from now.I'll be looking to catch the next impulse up until -0.27 area.This may be a 3 wave correction or it could be a 5 wave structure so If you choose to enter now, It would be good to move stop loss to breakeven when it reaches the trendline and wait if it will ...
DXY is in a daily correction move after an upward impulse, but on the lower timeframes after a sharp down movement, it is correcting and we have MACD divergence. Im waiting for it to break to the downside touching at least the recent lows at the 61.8 fib level before going up again.
Price broke a corrective structure and came back to retest it giving us a good opportunity to get short here.Good risk to reward ratio and first target is 1.27 extension and the next target would be 1.618 extension.
After finishing an ABC pattern GBPJPY looks like its turning bullish and heading towards 164 area at least.We have divergence on H4, and I'll be looking for buy setups on lower timeframes after the trendline breaks.