Target of C wave is fib. extension 2 of the first wave that just ended. It also corresponds with major A wave's 1.618 extension and with the ending diagonal of weekly chart. Message me for more info on EW theory.
watch out for the fake out (B wave), the buy is considerable but bigger picture is a short. C WAVE SHOULD BE GOING FOR ANOTHER 2-3 WEEKS THEN A BIG SHORT FOR WAVE 5 (I will post)
Our dxy view hasn't changed (check out my profile). Current stage is at B wave of a bigger degree zigzag. We should see the last leg up to reach approx 99.0 before the USD starts dying :)
DO NOT TRADE BEFORE NFP BECAUSE IT MIGHT SPIKE DOWN
DO NOT SELL AS WE KNOW CORRECTIVE WAVES ARE NOT AS STRUCTURED AS IMPULSES. WAVES CAN BE USED ANYWHERE. CHEERS!
Double three pattern (DOUBLE ZIGZAG, FLAT, TRIANGLE, FLAT, ZIGZAG) . Dont buy, wait for correction to sell.
D wave overshot the top of the triangle like 90% of the time on the market, expect E wave to do the same. We are looking for strong sell signal next week.
IF YOU DONT TRADE WITH EW DO YOU EVEN TRADE?!
Market just closed, the week is over. Time to party? Hell to the no, look at your weekly setups to see if they are still valid, if not, modify them. It is clear to me now, ending diagonal scenario as C wave for NZDCAD, highest target should be wave V which corresponds with the 618 fib of the first impulse down (March). All of my week's posting about NZDCAD are...
Chart is self explanatory. Wave 3 should drop way lower than the arrow.
This is an update of my last post, the trade is still valide but well may have to look for a better entry since I recounted the waves and B waves is a triangle to me at the moment. Stay Tuned
Flat correction in line with 1.618 fib of wave A therefor, we should look for strong buy signal now this week
Clear Reverse HS in h4 can be used as entry point.
B wave will occur this week but will be very rapid. Look out for a spike down then impulse up since we have a lot of fundamentals coming out next week
Our last eurgbp breakout didn't fail us. Now we are looking for another leg down