Short when X is completed between 50-61.8% fib retracement from peak 1.1570 to low 1.1450. Target 100% - 161.8% fib extension of WX (black)
WXY pullback. Could be 7 or 11 swings to make either WXY or WXYZ. Still have at least more low after B pullback. More upside after this correction over towards 1.1675 - 1.1750.
ABC Pullback in the making before more upside towards $60 - $63.75
After price made 5 waves towards 113.70, it actually completed the C of an Expanded corrective wave. Now, price did 5 waves down side and should be ending by now and expecting pullback either in form of ABC zig-zag or WXY 3-7-11 swings and looking for more downside after pullback ends.
After price broke out from the Symmetrical Triangle, expect price to retest back the broken trendline/apex somewhere 1.1325/35 before continuing down south towards the target of the Bullish Butterfly mentioned in the chart.
A potential bearish bat to be completed also with 5 waves upside. 3 waves pullback will be seen soon towards 50% - 61.8% fib retracement.
To be completed somewhere between 1.1525 - 1.1535. Posted in my previous analysis.
The A (red) has 5 waves structure with B (red) 3 waves structure. This could be unfolded as expanding flat ABC which if it completes, will make it as C of X. This structure is invalidated if price make new high above 114.030. Target take profit will be around 112.00.
We have WXY correction with a harmonic pattern Bearish Gartley completing at 1.1525 - 1.1535. Also if you look left, it is a major Resistence.
Two harmonic patterns here. Bearish Gartley and Bearish Crab. If we look left, there's resistence at 1.1525. It could reverse from there or make a 3 waves pullback before continuing to complete the Bearish Crab.
Price did not break 112.57, and made hourly bullish engulf with divergence indicating price going up. It made B of X at 112.58. We could see a new high to make C of X before shorting towards 112.00 - 111.80.
A potential bullish bat harmonic pattern. Stop Loss 0.7283. Take Profit 0.7430.
After price broke out of the bearish flag, price went to retested the trend line. We will be expecting price to make a decline towards 112.75 - 112.50 and see a bounce and probably to make new high.
1.1375 remains to be key level. If it breaks, it will bring price higher towards 1.1525 - 1.1535. If it doesn't, and breaks low 1.1266, we shall see 1.1050 next.
After making 5 waves up from 20th Nov low, price are now making ABC Correction. Here identified a bear flag with the completion ABC 3 waves, we shall see a decline in this instrument next week towards 112.81.
After it hit the blue box from my previous analysis on 27th Nov, price dropped and completed the Bearish Bat. Next up would come an ABC Flat Correction pointing towards 111.80 - 112.00. Also visible in the daily chart is a Bullish Gartley harmonic pattern which i will post under this analysis.
Price is approaching a potential Bearish Bat harmonic pattern around 113.98 - 114.15, and if there is a bearish candle pattern in the specified range, shorts can be made with a target take profit minimum at the 38.2% fibonacci retracement and possibly provide the opportunity to make longs for new high.
Potential short towards 1.1320 - 1.1330.