salsapete

salsapete

On the assumption there are no mistakes in the market. Then a retracement of the low liquidity huge pin bar to the left is worth a scalp. Take this to the .618 - .786 region. Enter now , and stop above the .382 fib.... :)

salsapete Updated 

The Aussie is in a corrective ABC cycle. The A wave has completed in 5 waves. The B wave has completed - either in 3 waves a flat or a truncated triangle . The C wave is in play. If the B wave was a flat , then we are currently at minor wave 3. If the B wave was a triangle , then we are currently at minor wave 2. Knowing the exact count doesn't really...

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"Unlike some other central banks who have been hawkish in the face of mixed to deteriorating data, this week’s Eurozone economic reports validated the European Central Bank’s positive views. The manufacturing and service sector indices in the Eurozone were revised higher and retail sales increased. In Germany, we also saw factory orders and industrial production...

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The kiwi has been on an absolute tear since mid May 2017 , clocking 5c on the dollar. At this time in mid may the COT data reversed, and has moved from net shorts to net long . Last weeks net longs are the second highest recorded figure ( 29 K +) , in recent recorded history. Kiwi 10 year bonds have just popped back over 3.00%. A potential top may have...

salsapete

A strong NFP print could provide the impetus for the breakout leg to the downside for this consolidating Aussie Barrier Triangle. :)

salsapete Updated 

As per chart :)

salsapete

As per chart. Reward Risk 3:1 :)

salsapete

Short scalp as per chart :)

salsapete

As per chart

salsapete

As per chart.

salsapete Updated 

If we consider that gold is making simple 3 wave patterns - there are 2 overlapping patterns as illustrated. Both are bullish for the price of gold. Illustrated is also a closer view for the current corrective cycle. Gold may proceed for a final wave up in the minor correction, before proceeding down to complete the larger corrective cycle. From there ,...

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Silver appears to be in consolidation - possibly with 5 waves in a wedge pattern. The long term outlook from current price levels is up..... Accumulating silver between 15.60 and 16.00 may be a good entry point for a long. This opportunity has just been present in last week. Upside potential beyond the e wave 1. A smaller ABC - to 23.00 2. A larger ABC - ...

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The loonie has been in a wedge consolidation over the last year, which has a 5 wave drive , and has now broken channel resistance in the last week with price at 1.2964. Price may retest and consolidate the channel low before moving down to test 1. Start of the consolidation - 1.2490 2. Prior Swing low - 1.1950 3. Equal legs extension of ABC correction - ...

salsapete

The kiwi attracted heavy attention with the COT 25,233 with greater open interest. Its the 6th highest net long in almost 10 years. Technically the kiwi is up for a corrective move , with one more drive down. The heavy buy into kiwi will likely see the currency supported in the medium term..... :)

salsapete

Like all the other US denominated majors, Pound is in a 4th wave corrective cycle. The current C wave may move to .382 fib of a minor wave 3 , allowing pound price in 1.35. From there the pound moves steadily down to below parity with the 5th minor wave , to complete a primary C wave.

salsapete

Here is another big picture view of the EURO. Maybe a complex corrective phase is taking place. Just maybe the Y wave has completed. If so, then the next X wave will take euro to 1.02 and complete the b wave. Then everything that goes down, goes up. For euro that may be 1.20. :)

salsapete

To sync with the gold update....:)

salsapete

Aussie has been in a complex sideways market since April 2016. This b wave has formed a wedge pattern, that will either break soon or will have a 3 drives pattern. This scenario is 3 drives, with the y wave near completion. If the market is to reverse , then a further X wave will take price to the bottom of the wedge to complete the b wave. From there ...