Bullish outlook for gains at 3.68, then 4.17 and 4.52. Invalidation at 3.02. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and...
I see a cup, handle, a breakout, and a retest right on the 20MA today. Anyone else agree? Potentially long here. Watchlist candidate.
Dow Transportations are trading nicely to the upside, with price trading in the middle of a big red third leg, specifically in blue wave (iv) of three. As we can see the index recently completed an extend wave in the previous wave (iii) at the 9491 level from where price started to decline. This decline we now see as part of a minimum three wave correction that...
Though id post as just one example, perhaps the most obvious, that shows how heavily the JPY is considered a risk-off asset and to show the clearly, since the SPX is a risk-on asset, that the JPY is negatively correlated with the SPX. In times of market fear/ uncertainty, YEN is sought out, just like bonds and gold, as a safe heaven asset. The theory behind this...
EURGBP is in the corrective pullback from recent highs. We are looking for red wave C to reach 0.7638 levels for a possible support. This corrective pullback is also in the A-B-C formation pattern. That said usually legs in this corrective A-B-C pullbacks reach equality, so this means leg A should travel the same distance as leg C.