Wave 'C' finally started today after much deliberation. However, I did update my timings today to reflect a 7 day move on Wave 5 to match 7 day move 'B' wave. How long is this final move DOWN going to be? I have pencilled in 5 days but the price action (i.e. candles) will hopefully tell us when we are near the end just like previous moves.
I have changed my number of days movement on this new graph. The recent price action today shows an engulfing candle at the end of the most common move timeframe. Therefore, I am now in for a BUY after previously hanging on to the SELL.
Price back into previous BUY zone and looks like the end of the run down. BUY.
Kicking myself after a simple error. Clear 7 day move up followed by 5 day move down. This current move up has reached previous high selling point. Are we now in for a 5 day selling move? Looking at other USD pairs, it looks promising. I was stopped out on my previous SELL analysis. I have re-entered my SELL today.
If I keep on saying it, it might just happen. I am so certain of this move that I am now doubting myself as it is taking so long to come true. I might be the only one but I'm sticking with it. Tomorrow will be the moment of truth I feel and quite frankly, hope. One way or the other I really don't mind. I just want an answer now.
Small DOJI finishing today on 5th day and right on previous selling level. Perhaps a move down now.
If price action keeps to the most recent rythmn, will buyers come back in at 10605 and will Thursday be the last day of the downward move?
Recently published this idea and I'm sticking with it. TUESDAY could be last day of wave B up or could be beginning of wave C down. One to keep an eye on.
Wave C retrace will happen but not sure of timing. You could count two days UP followed by last two days DOWN as balanced out and therefore next move is up. However, the three days after the end of wave 5 with two days of indecision on price means more caution is required.
Difficult to judge timing but final wave C retrace will happen. You could count two candles DOWN move balanced by recent two candle UP move and therefore FRIDAY will be move down. However, the doubt is the initial down after the end of the wave 5 and two days of indecision. Therefore, caution required.
Another 6 day move indicating dollar weakness. The recent 6 days could not cover the previous 6 day gain.Once again, I am cautious especially after seeing some ideas about selling this pair and with my previous comment about all dollar pairs appear to be showing dollar weakness just by looking at simple price/time action.
Watching rythmn. regular six candle moves. today is 6th day so expect a move up tomorrow. So far all the USD pairs I have looked at have suggested the weakening of the dollar. They don't normally all indicate this so proceed with caution.
Trying to get a handle on market rythmn. We have seen 6 days down followed by a 6 day sideways move. I believe Wednesday is the last day and will be watching for which direction the next move takes us tomorrow. However, I have just shorted the US Dollar basket on IG so that may be some clue to where this is going tomorrow.
Are the last three trading days a sign of exhaustion?
Mini 5 wave pattern ending with spinning top candle at price of Doji candle on 10th March.
Already published a BUY idea for this pair and I still think the selling has come to an end. Counting the daily movements, they have recently been in two day moves which would suggest that tomorrow will be the day that the market will move in the direction it decides. I'm hoping it's UP based on five wave pattern and this current price is previous supply zone.
Mini 5 wave pattern and downward movement appears to be slowing. Possible re-trace on the cards. BUY.
Six day move up followed by a slowish 6day move back down and well short of starting price. Todays candle may have laid the trail for a further move up. BUY.