As its a new Week I have been reviewing the weekly chart to get a better idea of the overall move. On the lower time frames my Initial thoughts were short but looking here I think we could see a rise. Short term I do think we may see a retest of 0.70000 area the fib retracement on the most recent Daily impulse leg up gives us a 618 at one of my weekly key...
Currently short once more on audusd after being stopped out previously. it has presented another opportunity after hitting the 61.8 fib of the move down, still same targets as im still holding my bearish bias for this pair
The pop higher in the SPX has reached the 2225, (76.4%) projection of the Feb-Jun rally. Next resistance is likely to be around 2250, but any break should fade beneath the 2300~, (100%) projection.
I was reviewing my weekly trading plan for UJ and I found a few situations that made me change part of this plan: It has been really hard to UJ to break the psychological zone that I marked as a Selling Zone (a lot of push back in that zone) - This is why my TP1 is into that zone in the last high of this month Reduced my TP2 (Now exact Fibo Ext 61.8 - 106.71)...
This Fibonacci training will hopefully be of aid to you. I'll continue to train and educate myself, so I thought why not share the process. We'll continue with the Fibonacci training #2 on the 18th of April 2016, which is a monday. Again a little Fibonacci story with, hopefully you'll agree with me, a decent explanation. This time we can see the Fibonacci...
DETAILS IN THE CHART . PLEAS ALSO NOTE TO THE PREVIOUS LINK. GOOD LUCK.