lawlee9

lawlee9 Updated 

Price broke out of blue trendline and retested confirming breakout. Reached .886% retracement level (key level in this type of retracement) of previous down move. Looking for another move down to hit monthly support, which would appear as a double bottom on the weekly timeframe. This recent run up can be considered the first wave of a new series. So the down...

lawlee9

Price reaching weekly support levels. Still looking for the .76880 target. Long invalid at .67542 on a long term view.

lawlee9 Updated 

All moves are calculated. .77601 is the ultimate goal for the short. Multiple projected wave sequences support the .77601 level as the completion point.

lawlee9

AJ's whole life cycle is bound by a range. Entry for a short at 87.147 would be at the top of the mid range that was established from 2010 - 2013, which acted as a corrective pattern to continue the trend upward. Since we are on a downtrend, we should expect a similar range, but as a continuation to the downside to eventually touch the bottom of the large range.

lawlee9

Downward 5 wave sequence. Price extended past 38.2% for 3rd wave, but did not touch 23.6%. (Fake out). Price came back over 38.2%, showing support. Target 1.38408, with possible extension past that level to 1.40831. Enter short to complete wave 5 at 1.17419. On lower timeframes, looking to complete wave 3 at 1.28289. Short to 1.24756, then long to...

lawlee9 Updated 

Purple FIB - main 5 wave swing trades indicated by numbers. Wave 1 touching 61.8% FIB. Wave 2 touched and found support at 78.6% confirming a solid wave 2. MT trade target 38.2% Swing down for wave 4 to retouch wave 1 top at 61.8% with extension to below 61.8% level. Orange FIB - wave 3 of the main EW. Support at 88.6% FIB. Confirm FIB structure. Target 38.2%...

lawlee9 Updated 

Aggressive longs from here. Possible retrace to 61.8% with a bit of an extension lower. Stops below 1.06500. Target 23.6% FIB and resistance level.

lawlee9 Updated 

Bounce on 38.2% verified FIB structure. 0 point on FIB matches with previous support level broken. Trading with trend for exhaustion candles to resistance level.

lawlee9 Updated 

EJ is forming a similar pattern as it did a few years back from 2008 to 2012. The falling wedge pattern first to form the bottom portion of the channel, and now again to get it past back up to the top. The BOJ has been trying to lower the value of its currency for a long time now, but with BREXIT and the yen being a safe haven currency, it hasn't been possible. ...

lawlee9 Updated 

I've made prior posts about NU, but now with the new price action that's developed, I thought a new post was needed. Chart looks messy, but there's logic to it. I believe we have a very large 5 wave sequence in the making, indicated by the roman numerals, and the more extended fibonacci extensions. We are currently within the 3rd wave. Now, within the 3rd wave,...

lawlee9 Updated 

We see a completion of the 5th wave to complete the 3rd wave of the larger sequence on the monthly. Price rejected perfectly off the 23.6% level (orange FIB), and is being held up by the monthly 88.6% (blue line). The retrace should go to the closing price of the last bar before the gap down (1.36556). This level is the neckline of the monthly H&S that price...

lawlee9 Updated 

There is a large 5 wave sequence for the DXY to reach higher highs. However, we need to see a drop in price to create the 4th wave before the move higher. Price had a nice run up in the past few weeks, but it reached a monthly resistance level, and retested the ascending trendline it broke out of back in March. Also, a bearish engulfing pattern at this zone of...

lawlee9

break out of resistance trendline. Still have a support area I'm expecting it to retrace too. Get long right at the confluence area at 134.320.

lawlee9

The 3 circles in yellow show similar patterns that become smaller in sequence indicating weaker volatility. You can notice that the tops of those patterns are each lower than the previous as well. On the 3rd wave price created the first wave of the next sequence of patterns indicated by the blue circles heading down. When price broke out of the support levels,...

lawlee9

So to give context about this pair, we saw a reversal pattern signal the last swing low before "2". Once price broke out higher past swing high "1", it opened the door for higher prices adding confirmation that the reversal pattern was legitimate. As PA developed, we can see a 5 wave pattern developing. The 3rd wave completed once it hit the 38.2% FIB level. ...

lawlee9 Updated 

Shorting at this level right now. Holding until .6900 to finish 4th wave. Looking for 5th wave at around .7600 for the big short move.

lawlee9

We saw a falling wedge structure shoot prices back up back in 2010 - 2014. There after, we saw a sharp decline in prices creating a similar structure. I am already long from 115, and expecting price to rise to T1: 127.2, T2: 138.8, and ultimately to a LT price of 170. After brexit, the yen was looked to as a safe haven currency, but now with brexit news...

lawlee9 Updated 

Looks like the SPX500 is also showing a play to the downside. -RSI bearish divergence -Price ceiling at 2126.9 -Break out of trendline to downside, but has been riding it up. You can tell this is the most likely the ceiling because volatility is increasing indicating bears and bulls are in play here. The ride up was pretty nonvolatile as it was all...