Leg XA had E-wave formed, assumed impulse. AB retracted 88.6 of XA. Money Flow Index showed divergence. Price unlikely going up with head and shoulder formed at H4 timeframe. Point C can be either Fibo level 0.382-0.886 of AB. TP1 ~0.7970, TP2 ~0.7770, TP3 ~0.7565, TP4 ~0.7280 Good luck!
Up trend prior to form Head and Shoulder. Tested the neckline (Resistance) for the fourth time. Money Flow Index divergence. Entry: With good price action candlestick. TP: 0.90, SL: 0.97. Trade invalid if breakout with high volume. Last week candlestick was a movement without volume support. 459K compared with 743K ...
Nice double top breakout with SR level tested always. Double top height of ~700 pips with TP reached. Using OBV divergence, we may want to retest the SR level. Entry: With good price action, TP 1.5384, SL 1.4964 (July 2012 low)
Divergence observed on many indicator like A/D, Momentum, Money Flow, etc. Wave 2 rested comfortable on 0.618 last week. This week will ride on wave 3 to break the historical resistance zone to (3), retest and finally ride to (5). Presently targeting to EMA 200 with SL at 0.618 low.