What's not to like about this pair long?
Not quite a triple bottom but close enough for me, higher swing low should be alerting traders to the possibilities here and most importantly (for me), a sustained break and hold of the key 72 area. A bit premature but a H & S forming too. Neckline at 7420. Targets the 79 area if completed. Personally I'd be happy with...
Wave 2 retraced perfectly to the typical 61.8, nothing bullish about this chart in my opinion...breaking thru 1.5150-65 support as I speak, not much support till 1.50ish, W3 projection lines up with the 161.8 and 78.6 at 1.4850ish. A typical 38.2% retracement for W4 will bring us back to current support, future resistance 1.5165.
W4 shouldn't encroach in W1...
5th Wave bounced off the buy line perfectly, price fell into a support area on the Daily, bullish looking candle and setup on the 4hr. Only just saw this and missed entry. Hopefully retest local support at 153.15-ish or I might just jump in a little earlier.
EUR/CHF near the 1.20, I'd expect the SNB to make some effort to defend it
Potentially targets line...
Big rejection candle yesterday, perhaps USD longs might be looking to cover some ahead of NFP...Ivey number up later today, good time to close v Cad in case of upside surprise like last month.
Also there is oil. I feel the 4hr support at 77.50 area will hold at least in the short term. If this goes I may reconsider this trade
Simple ABCD and 50% retracement...
Gartley in progress. Completion at the 38.2% of move down from 80.45 lines up with the 78.6% at around 78.86...however the 127% and 161.8% line up within about 15 pips of each other. Will be watching 5/15 min candles for entry but guessing 78.85 will do it, its a previous spike high and resistance area with a possible ABCD forming too
Good chance of getting...
Rubber meets the road at the fragmented line
Will be looking for shorts in that area
Confluence of previous support turned resistance, the 200hma and in the vicinity of the 161.8% and 78.6% back
Headline should read 'If' the WW wave completes not 'when'
The wedge is bearish, Sterling looks a little bearish v's other majors too
The WW defines targets
I missed this one last week. Looking to get short for 1.83. Wait for a pullback or a break and re-test of the wedge.
Wave 1 and 4 point to 1.83 target which is where the 127% retracement lies. Would look to go long if we get there
The pair is at a previous support turned resistance supply level. Already one failed attempt mid-2012.
Channel resistance on weekly and in the neighbourhood of the 61.8% retracement on the monthly
Then there's that shooting star on the Daily
Dunno whether we'll see 1.55, ideal place to short so looking on smaller time-frames for possibilities... targeting 1.50,...
Looks like a bearish Wolfe Wave scenario here.
DXY at key long-term channel resistance, 85.55, weekend coming, traders might want to close USD longs today...
Looking for shorts in the 109.35-50 area, tight stops at 109.65 above the 127%, not looking to be hero here, a good US GDP reading might blow this one out of the water.
Looking for a move down to meet...
Looks like a Wolfe Wave (am still learning the art) although point 5 extended a bit further than expected
High is marked by connecting point 1 and 4
Should be a short at the high but did not take this given the divergence in sentiment between the pair
Just a heads up for anyone long the pair