stanchiam

stanchiam Updated 

short term could stop the dollar bull, favour a correction of at least 50% down

stanchiam Updated 

one can hardly count a clear 5 waves up, as said earlier, such moves are tricky and can take many forms I am waiting for an impulsive wave down to kick start the fall and look for opportunity to short it

stanchiam Updated 

price has touch the median line and should be supportive of a bounce as the drop from the top seems complete after the bounce, market will decide if it should fly to the sky and fall back in hell

stanchiam Updated 

waiting for a break above to indicate bulls back in control for safer entry but small long could be ok as price is around lower channel which should support

stanchiam Updated 

price should start going back up soon at least for the short term

stanchiam

prefer to short it, even if wrong, should not go too far off, lets see what it can bring us, first target lower channel idea target 111 region

stanchiam

although most are looking the 3 wave move down as complete and therefore new high coming for me, price wise yes but time wise, it is not enough further more, the move up after the 3 wave down to me is 3 wave up, people are forcing it and counting it as 5 waves up am still looking for another sequence lower to complete the move down in price and in time it will...

stanchiam

this could be an ending diagonal, a strong fall to confirm the idea, which allow us to look for short opportunity

stanchiam

if bulls manage to push back up, will be bullish and it can have potential to move up strongly as wave 3 or C

stanchiam Updated 

bears should continue to push price lower, will confirm once price crack below 111.2

stanchiam

as the waves are messy where one cannot count clear 5 waves up without forcing it, will prefer to count it as corrective the problem with corrective waves is it can be tricky, however, if price is back below 112.6, it will be consider as false break and a bigger move down can be seen, at least 50%

stanchiam

seems like price is going for an expanded or running flat, after that price should resume the move down hope NFP is lower than expected and make this price action come true...lol

stanchiam Updated 

due to a 5 wave move down from the 113 region, the bear is now is charge and should be a continuation down after correction is done, most probably around 50-62% region a lower than expected NFP will support this view as usd sell off, if NFP is lower, it mean FED will not be rising rate which is good for stock market and therefore risk and equal to usdjpy fall a...

stanchiam

as with previous 15 min chart posted, the bigger picture is the same fall started, lets see how far it can bring us, new low is certainly not out of the picture if NFP lower than expected

stanchiam Updated 

waves are somewhat messy, to confirm the bearish view, we need to see 5 waves down or a bearish candle in the 4 hr chart still too early, shall see if this idea play out ps: the move up could be due to risk aversion for the upcoming French election, a macron win will likely see risk back and usdjpy fall

stanchiam

If you see audusd waves look something similar to this play out, it is bullish and one should look for long Good luck and God bless

stanchiam

price had rejected the low, as long it is above the neckline resistant turn support, should see price continue going back up at least for the short term

stanchiam

as seen from chart, price broke out and currently back to retest break out region the overlapping action does look like part of a bigger corrective action will not rule of a move back up, good luck