We see an inverse head and shoulders pattern, where price should move back up to the level at which it started the down move, which coincides with the 50% mark. We're also in a widening wedge where the down move to the bottom of the wedge would be the 4th wave, leading prices higher for the 5th.
head and shoulders pattern confirmed. Broke back up above the neckline, but only to retest the broken support. We saw the retest, but it looks like it will move back up to retest the resistance where price had a fake break. From there we should see a strong move down.
Looking for prices to go long term long from here on out. Buy on the dips. Price made a deep retracement into the 88.6% to finish off the correction. If you notice, price broke out of a small ascending trendline in the process, but shot back up above it. Seeing divergence at the 61.8%, and a possible down move back into the 78.6%. This would retest that...
Swing trade to the bottom of the channel.
Long from here for an ABC corrective wave. Look for short at 78.6% to capture the right leg of the head and shoulders.
EU finding a nice spot for support. Already long here with stops below 1.17330. Looking to close the gap at the 78.6% (white) and setup a head and shoulders setup. Medium term bearish on EU, but taking the retracement long. Elliot Wave: Finished a minor impulse wave of a bigger bearish 5 wave sequence. Targeting the 78.6%, which would indicate completion of the...
Looking to get short at 141.40 to setup for a buy at the bottom of the consolidation channel. Potential pitchfork point located at 138.864, which coincides with existing trendlines an the bottom of the consolidation channel and at support. Expecting a break of this to the upside.
On the higher time frame, USDJPY broke out of a long term downward trendline (blue), met resistance at resistance (yellow line), and came back to retest the blue line again. That retest and push up signifies the upward movement on this pair for the long term. Next resistance is at the white line. Currently, price is at a support level within this corrective...
I think we've got our first and second wave completed. Retracement into 88.6% confirms it for me. Looking to target the 38.2% and then the 23.6%.
With the recent down move, we can assume the pair is short biased now. We completed a 5 wave move on the 15 min, and looking for an ABC retracement. We can look to short again at the completion of the correction.
Breakout retest. Also reversal pattern. Shoot for 50%, then 61.8%.
Price came down to the level that I was expecting, granted in the most abstract way, but none the less it got there. Looking for a long from to the upper levels creating new highs.
Faster you go up, the stronger you fall. Waiting for price to hit resistance at the trendline, and at the level we saw price range between the blue lines. If we're looking for a pull back to close the gap from earlier in the month, then this would probably be it. Long from the bottom for higher highs.
Price is in a range, and on it's way down to the bottom. We're seeing a pull back here, and a break of a descending trendline. This is setting the stage for the bull move, but we still haven't gotten to the bottom of the range for the real strength that will bring this up. Getting in a short position at the touch of the 50% of the recent down move.
Looking for some more up on EUR in general to get into a short. Retrace into a level that held in the past to trigger bull moves to the higher resistance. We're in the beginning of a 3rd wave. Trading the retracement of it until I can get in long for the bigger move.
Break out of a wedge on the daily. It's been creating a corrective structure. 50% of the move is holding, and retouched a bottom trendline for support. Looking to go for the highs of the monthly structure.
We have a potential AB=CD pattern here as a correction to the medium term down trend. Possible double top formation at resistance to bring price back down to close the gap, and to play the channel. With all of the French election activity being priced in already, move downward here can be probable. Will play the short, but the move long term is long.
Historically, while EURUSD has been in this range, any move from 1.05 levels higher always got stopped at the 1.10514 level. 2/2 times after hitting 1.10514 level, we saw a move into 1.08186. Looking to play this level and then go long for a long term play.