Here is the Bearish 5-0 update from last week or so. It hit the 2 fib level and is showing signs of a reversal to the upside as expected. Around 824 more pips up to the Sell Point. Then another potential 1,876 pips to the TP point.
I will get in on this buy up to the Sell Point.
Hopefully this pair doesn't get hit with news and does what it is expected to....
I don't know if price wants to drop to the bottom of the pennant roughly 115 pips before going up, or if it is going to retest the yellow line and jump to the top of the penant. But price shows its hand, I am going to wait until the long opportunity comes up and I will enter.
This pair has been unpredictable as of late, but I think the Bearish 5-0 is still in play. I don't have the margin to take this trade so I might have to wait for price to reach the red box for the sell point.
I am waiting to see if price wants to retest the white channel line or if it is simply going to bounce off the yellow line and fly up. It's roughly an 87 pip drop to the white line before the drop and roughly 430 pips to the upside. Wait for confirmation, but this is Bulls for me.
I am selling this until the green circle where I am hoping it will retest before forming the "D" point on a possible Harmonic pattern. I drew up a few fib levels and placed green boxes where the "D" point could stop at.
This one is a bit trickier because of the intense Bearish momentum that we have seen last week. But I am taking my chances and entered a long position late last week when I saw it stalling out.
Technically, I don't think the Bearish 5-0 pattern is valid anymore, so I have arrows at the possible resistance levels this could hit before dropping again if it does...
EURGBP finally broke north or of the bullish wedge pattern and might drop around 30 pips or so for the retest. I am going to wait until the retest and hopefully I have enough margin to take this long position!