i am still seeing more chance of short opportunities as such i am considering 1920 area to short with targets in the 1740 area. Be my first trade in a while providing i see the right reaction and volume
bias is still short as it approaches 1925-30 the last area of previous support. Although this trade is more risky than usual for my liking my bias marginally is still short at this time. The test of the last low will be decisive in the next direction at 1848 which will be at least a tested area.
has completed 5 waves down and has confirmed bearish trend in the short term we will see retrace upto 1920 area which was strong support now resistance creating a wave b or 2 for further down likely to test 1670 and lower.
seems to have printed 5 waves down now we have hidden bull divergence and a retrace up at the very least with 1949 big resistance i expect at least that tested even higher 66 short term. Be looking for 3 waves corrective structure to confirm a possible 12 of 3 and finally break down out of descending wedge.
seems to have printed 5 waves which could be c of wave 2 in larger wave 4 i ma cautious on this as i suspect another count maybe at play and a 5th down is an alternative after 38 to 50% retrace level. But dxy should see a bounce around this level
about to head down after making 12 12 formation could be a larger wave a 5 waves down creating a larger wave 4 possibly unless possible cycle done this could be a start of a larger downtrend also. Time will show the path the last up move was on low volume and weak in comparison to impulsive moves prior. A bigger bull trap is made.
weekly and also monthly showing rejections and shooting stars and spinning tops at the least short term bearish 1670 been the area of interest as 5th extension often retraces at least 62% and often back to where the extension started before any possible resumption of bull. At best this will be wave c at 1.618 at worst it could be start of 5 waves down and level s...
inside descending triangle held up by old channels once gives way will see at 1818 before a bounce with 1670 the possible next support travelling back to where 5 th extension started. The structure and smaller tf all showing corrective patterns and strucutures, bull is now weak volume is going and struggling to make lower highs. Weekly candles are very bearish...
Pretty much as planned RSI on daily is showing possible break out there is a chance to create a wave c down still although inner cycle looks to have printed running flat. My bias is still long with targets at 1790 before a little retrace with 1820 longer target. Caution to possible wave c that could see 1697-90 but overall v bullish
as expected nice bull run testing top of range an inner wave 1 has been created we now have a 121 bullish formation with a pullback to 1707 area. We should be able to finally break out and make new highs with high 1700 first.
Becoming clearer I see many bears in fact recently told only smart are shorting :) ew count as expected is giving a big clue to extension creating ABC after 5th wave high as bigger cycle minimum is 2000. Extension suggests 2100 longer term with a target of wave3 1837. I have 3 possible counts but this is the best fit short term it hasn't touched 63 intraday...