As expected. EURUSD push down to test the previous wave 3 low and then sharply reversed. In my book, this is more than likely the pivot of the larger degree wave (C). However, since the 50% retracement of the entire rally of from the decade low is not far away. It is wise to at least have a backup plan. The market often behave tricky around these huge 50% level....
AUDNZD is in a multiyear consolidation triangle. The final breakout direction is not clear at this point. However, it doesn't matter at the moment. Just buy the C wave up and take profit near the trendline.
This is a follow-up post of the previous EURUSD post. Looking across all related classes. It looks like this is going to be the line dollar would reverse on and there should further upside in the short term.
Just wait for a fake breakout/wash before the real reversal.
This is getting really intense. The mega consolidation of Gold and Silver is definitely going to end. The chance of upward breakout is much much higher compared to the other way. Be very very careful about a down side wash out, especially in the silver market. DO NOT chase down if a short period of break down does occur. Instead, BUY the DIP or FAKE OUT.
The S&P has been played out as expected to go into the new rally which is the fifth wave in a larger degree. However, near-term price action suggests that a pullback is imminent. The bullish count(GREEN) indicates a shallow correction to 2750. A more bearish count(RED) indicates a more aggressive move to 2670.
The bullish version is much more likely at this point.
As suggested by my previous post, the gold played perfectly as predicted ( the most probable wave drawn in the last post). The current level is at least an inflection point. I suggest it going higher from here, with the possibility of another stretch to not far from the most recent low. Good luck trading.
This is the lower time frame count of the S&P. The main count suggests the market is ready for a 3rd or 5th wave rally.
The alternate count suggests maybe the (E) wave just started, which is another month of consolidation.
The breakdown of the lower time frame triangle would higher the chance of alternate bearish count.
The breakup of it would confirm the main...
The S&P should have been escape the ongoing triangle and ready for the next leg higher. The wave count indicates a 3rd of 5th wave rally starting next week.
There is a bearish alternate count I will detail in another post.
This is such a long-term consolidation that eventually has to be resolved. It often comes with fake move after fake move ...
Given the current price action, the more bullish green count is more likely than the red counts followed by the most bullish move indicated by the dash green arrow followed by the extremely unlikely bearish move that would fall off the...
The dollar is stabilizing after breaking down 2017 low. The follow-through has been lack-luster. Right now, it seems like to be in the phase of correction higher as either wave II or wave (B) depends on the even higher time frame count.
The green arrow is a fast route to the 50% retracement. That correction would be finished in fall. Alternatively, the slower...
As previously forecasted, EURUSD bounced from support junction and hit initial resistance/target
I plot out an alternative bearish count in RED color. stand aside for now, wait for clarity. Watch where it got supported.
The junction indicated is a point where I want to buy. Note that the price DOESN'T have to make the red dash line drop before rallying, since it had already hit 50% retracement and 61.8% extension of BC/AB.
A bounce off the pitch fork bottom support line is ideal, it could very well reverse before that.