Price is respecting a parallel channel. Still looking for some deeper moves lower before the change to bull.
Waiting for price to pull back to the 88.6% level, or to an extension at 113.636. From there, looking for a long term hold until end of 1st quarter next year.
Price is currently at a point of confluence. Ascending trendline it broke out of is holding as resistance, along with the blue descending trendline holding the channel resistance. I'm LT long on NU, however i think we have a down move here before the up. So, if we look at how price has developed, we can see sharp down moves. The first 2 down moves took 8 days...
Price retested 2nd lowest low after first rejection. This time with a higher low. Expecting nothing but up from here. On the LTF, a good entry for a long would be here, and stops below 1.05250.
Cleaner, bigger picture view of NU. Currently at the top of the range (boundaries more noticeable on the weekly chart), and looking to go back to the bottom. Trendline resistance justifying short at the top here, instead of breakout higher. Lower bound trendline intersecting with blue descending trendline helped spot a possible entry around end of March time...
Long biased on AUDUSD, however with NFP coming out tomorrow, i think we are in for a short. We may see a double top here before the news, but if NFP is good as analysts are expecting, we should see price come down to .7430 levels before bulls come back in and send this back higher.
Looking for a bounce off 138.797 level to find an entry for short at 143.161. This will allow price to retest the broken descending trendline, and also setup for a head and shoulders, libra, 3P, etc. pattern for reversal higher.
Gap down from Sunday's open still respected the 23.6% level, which should be the end of the 5th wave. Essentially seeing a double bottom of sorts here. We should first see a test of 1.27793 at the neckline, and then if it breaks we'll see 1.36606 level.
S/R level at 938.05. Price dropped below and came back to retest a minor S/R level. Looking for price to reach 814 level for entry to go long for MT. Last dip before the rise in price completed the 4th wave. Price should be developing to finish off the 5th wave. Stop for short: above 938.05 Entry for long: 814 Stop for long: 770. Ultimate Target: 1369
4th wave is complete. Based on the lower time frames, price looks like it will come back down to 780 level before the move up to 1365.49, which would complete the wave sequence. However, we have more up as that is a minor wave to a much larger wave that is developing.
Price broke out of a lifelong trendine. Had a fake break back in April 2015, and came back under. We break out again, this time for a longer period of time indicating a true breakout for higher. That impulse break out of the trendline, was wave 1. Price retraced to $16 and has been bouncing off the level, showing support. The jump to 25.24 knocked out the...
Quick fall into 23.6% to complete Correction A. Looking for a sharp move back up to create B. Might see some consolidation there as it breaks out of minor channel to the upside, so it can gain space to fall back down.
Originally anticipated deep pullback on wave 2, but realized that pullback happened already as noted in the chart. Continuing on 3rd wave upward, with a good entry at 1.0545. Stops below 1.05107
Reversal pattern on the monthly. Good entry would have been close of the pin bar in red box. Now is another opportunity to get in long. Previous candle closed above 78.6%. Price rejecting off a hidden inner trendline. Long term trade
1. Breakout of trendline since 2014, and since then has created a downward sloping corrective pattern. 2. 5 wave sequence end point matches with previous high level at 37. 3. Additional validation wave sequence is correct is by price respecting the 78.6% level. This is a shallower retracement with more complex patterns, so we should see the 4th wave be deeper...
Break of the head and shoulders neckline on the monthly timeframe. Now it's time for a retracement back up. Finished minor wave 3, going for wave 4. First target is 1.36606. After this, we must wait and gather more information to determine if we're going to do a spike up to the 1.45424 area before going short again.
Finished a small 5 wave structure, most likely the 3rd wave. Looking for a correction to 1.05600, where we can see more downside continuation. Entry long at just above 1.04200 level.