For short team wise, seems like starting with the Raging Wave 5, with higher than previous Week Low, deciding to long GJ with 145SL, 147.5 TP.
let see how it goes...
There is a lot like a chance to AN to continue to form the triangle pattern, after complete the triangle, will it breakout? Or will it continue in the range?
Still, UJ movements still quite symmetrical, forming head and shoulder, guessing UJ will still in the range 114.5? Or maybe 115.5 (??? Big Question Mark : ), till finish the symmetrical movements. Then what will be? Still a very risk-on market, dont think UJ will down to much, unless, Health Care Bill tanked? Tax Reform tanked?
Thinking about near long term About...
With EUR high yield vs JPY low yield, Bull EJ still in play. This week testing Fib_50 level, maybe will follow by pull back, still guessing it will target Fib_618.
Plan for next week, Fib_0.618 retracement setup didnt work out yesterday trade SLed today, seems will forming a bullish cypher, testing Fib_0.786 today, either will forming double bottom @ Fib_0.786 or test channel upper edge or even test Fib_0.886.
Looks like a potential reversal is forming??? but never say certain on this . with the huge rally from Nov.2016, seems forming a head/shoulders now, but recent month looks like forming a Hand/Nose as well.
Most likely side way between 112.5 - 115. If the bet no-March rate hike and nothing crazy from Trump.
It seems, EURUSD is forming small scale Right Shoulder, and meanwhile it's likely forming the "Head" for longer term, let's see how market goes. So far EURUSD developed quite symmetry pattern for the past 1+ yr now, if it continues, should be a lot of opportunities.
4H Chart hit 0.786 Replacement which forming Bearish Cypher + On monthly Chart forming a perfect Bearish Cypher forming a PRZ zone at same time, good opportunity to short it. 11800 + SL 11900 first TP@ 1:2 RR
