prevailing scenario wave (ii) maybe over in abc subminuette correction monitor prices evolution in an impulsive mode ALT: continuation of wave (ii) either in a simple or complex correction critical price area previus daily close 1.2077 PP/FIB 1.2080 PP / 1.2131-1.2153 (fib 0.618 – 0,786) static S/R 1.2106 key – 1.2153 critical volatility D 1.2058-1.2156
I was reading over the weekend and really trying to understand how to identify inner waves of the larger Wave to get a better idea of structure inside of waves. Another area of learning for me was the correction waves, going over simple and complex and that brings me to this example here. As we are coming off a large 5- Wave completion, we got a ABC correction...
Bearish trend movement for the past few days after price rejection at 50% Fibo lines. Range movement occured at top trend line creating new resistance line. "Higher highs trend" seems to have ended causing price to fall to the bottom trendline. Im expecting a BOUNCE or RETRACE before breakout below. :)
Not sure how much price is going to drop before the impulse up Expecting price action to drop to at least 23.6% fib if it does I want price action to break minor support turned resistance level to indicate possible move to 1.272 extension. Stops below critical zone
Since mid 2015, USDJPY has seen significant declines--recently hitting the 104 handle. With that said, there is no indication of any kind of slowdown or potential reversals to the upside given the recent impulsive-corrective structure on the daily to intraday charts. As seen on the chart, the red boxes highlight the impulsive moves that consistently create new...
The price action on this index indicates that the buyers ares till present in the market, keeping price levetating within a small corrective channel above 17850. I am expecting another impulsive move towards the even handle around 18000. If buyers are able to push beyond that, 18150 would be up next.
Strong bearish trend. Prices are holding around 159.800 (Red zone). Great for a quick 2.7R:R. Could be a role reversal level but seeing there is a strong impulsive bearish move on the 3/22 5:00 UTC, the following moves are very likely corrective moves. Allow a few extra pips for some breathing space given that this pair is extremely volatile. Looking to enter...