NZD/JPY 4h short, updated and revised. :)
My updated and expanded idea on NZD/JPY 240m short.
After blasting through the 200day EMA at 77.200 (and I thought that was a lofty goal!), it shifted below the pitchfork centerline and continued along it perfectly and ended up at the 0.786 fib level (77.00) created on Nov 9 of last year (we all know what happened there).
It lingered for a few hours, but eventually pushed through only to end up on the 0.618 fib (76.303)(again from 9 Nov 2016) and the up-trendline starting on 12 April.
US initial claims appeared to have only a delaying effect and after a slight bump up I expect we'll be on our way down again soon.
In my estimation to at least 76.300 and possibly the next stop at 75.807 - 75.683
Of course, all of this could change at the drop of a hat and we'll all be poor people. (unless you were smart and went long).
Have fun. :)
Martin
*comments and critique welcome, unless they're mean... then please try to be mean in a nice way
After blasting through the 200day EMA at 77.200 (and I thought that was a lofty goal!), it shifted below the pitchfork centerline and continued along it perfectly and ended up at the 0.786 fib level (77.00) created on Nov 9 of last year (we all know what happened there).
It lingered for a few hours, but eventually pushed through only to end up on the 0.618 fib (76.303)(again from 9 Nov 2016) and the up-trendline starting on 12 April.
US initial claims appeared to have only a delaying effect and after a slight bump up I expect we'll be on our way down again soon.
In my estimation to at least 76.300 and possibly the next stop at 75.807 - 75.683
Of course, all of this could change at the drop of a hat and we'll all be poor people. (unless you were smart and went long).
Have fun. :)
Martin
*comments and critique welcome, unless they're mean... then please try to be mean in a nice way