We had extremely successful long trade setup last time. Short is on horizon.
expect C to test weekly low and below around 0.80XXX area.
Previous Chart is linked with full wave counts. Pls refer there for more details.
Don't miss this trade
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We are doing corrective 3 or 5 waves , possible D towards 0.73000. Look for bull flag for breakout on lower tf before entering buy. Weekly remains huge corrective structure between 0.73500-0.67500 range. DXy has made significant down move. on weakness of dxy buy NZD.
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I have posted GBPUSD trade on larger timeframe which is also going to hit rock bottom, that weakening will be resultant force to bring this pair down to such levels. As we confirm this larger direction on weekly construct will concentrate small trades on lower tfs.
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Pending wave 5 may follow after extensive corrective abc on wave 4. I suspect it may extend some towards 1.33ish region and fall towards 1.14 and below. Idea of this post to make you understand the direction of the larger construct on pattern. This will affect all GBP pairs accordingly.
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I believe as all GBP pairs this has retraced up and NZD weakness has helped it for more fast recovery. though next pending wave 5 would be towards 1.50.
So find good Stop loss and short it at good price levels.
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Energy is very difficult to trade under present OPEC situation.
Yet formation of structure is such that it tends to break down after Zigzag consolidation in form of ABC towards 61.8%.
Look for bounce towards 3.2 as wave (2) advancing towards below 3$ in form of wave (3). I believe this completes the cycle by approaching $2.5 in five wave structure.
Take your ...
Extension of Primary 5 with 50% consolidation in form of ABC will conclude the sideways and extension towards 1.48 and above. all DXY pairs are tend to trade in same directions.
Good Luck. Trade your own plans.
I think we did Minor 2 of pending Intermediate wave (5) and towards minor 3 at 107.9. This is the extension of Primary C from 2012 bottom. I see the cycle top at 113 in time frame of FY '17 to Q2 '18.
Refer to my previous DXY chart as linked. I will keep updating on lower TF.
Note: Trade your own plan. This chart is for reference purpose not the ...
On daily its forming assymetrical triangle abcde. Towards 2.75 and then I believe retrace to 2.2 for 618 fib of C impulse making primary X followed with pending y to 3.075. for completing final structure.
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