As we can see on the chart, WXY pattern is clear with an irregular X wave (because of yesterday's Fed news), but still valid and didn't break the low of wave W. A contracting triangle is forms wave B in the ABC pattern for wave W, even if a huge wick went out of it: closing above the downside of the triangle, this candle on H1 shows that the setup was still valid...
FX:EURUSD Link to Related Idea Below... Price Low EURUSD: $1.16514 Tested and Held at $1.1652 Locally! As of the moment of publishing EURUSD Price: $1.1673 I break down the target prices for WXY & ABCD Patterns: ABCD(revised) 1.618 Extension Target = $1.16507 (EURUSD Low=1.16514) Fractional miss; Target Considered Hit ! WXY "Y" 100% Extension = $1.16426...
BITSTAMP:BTCUSD In this video I look at chart pattern possibilities, including the text book break down from the recent Inverse H&S Pattern reaching its target to the tick! This target hit the ATH 50% Fib., to the tick practically! Also, I highlight the potential Inverse Cup & Handle Pattern I'm seeing develop. As of this report $BTC has retraced 50% from swing...
Overview about how it can proceed... the Btc will see new heights soon ;)
Hello Traders, this is my anticipation on GBPAUD. Thank you.