Broken head and shoulders should surprise traders and pop to the upside, causing some impressive burst from short covering. We have long limits sitting all the way down to the 135.50 area, should a pullback/chop ensue from here in the 135.90 area.
Target: 137.00
Drew a fib on last move down from overnight.
Exited at the 38%, 135.70
Expecting some consolidation/chop here between the 135 an 136.
Epic day yesterday!
Quite a bit of constructive criticism arose over our 5 wave long count (olive green). It worked very well, and the 136.40 long target we've been calling out since last week was hit to the pip.
We're long again from the 135.90's, targeting 137.00.
It could get choppy as we are sitting between the 135 an 136, and then again, we could see a large round of short...
Grabbed another 50+ pips on overnight pullback. Yesterday was our best trading day yet, about 300 pips total.
This pullback here may be ending soon and longs should resume
Target 1: 136.40
Target 2: 137.00
Target 3: 137.30
EUR/JPY may retrace a bit here. Could also blast off long and strong.
Decided to bank +75 pips on our most recent limit longs.
Still seeking 136.40 as long target, awaiting potential pullback before continuation.
Great pullback to the 135.10. Grabbed 20 pips on the short and our limit longs were activated at the 135.18's.
CCI looking good. Could see one more thrust down to clear recent buy stops, or EUR/JPY could take off unexpectedly right here.
Target: 136.40
Looking for EUR/JPY to come back down to rest/test top of broken right shoulder.
Short from 135.40, targeting 135.20 area
Limit longs sitting in the 135.18 area.
Long Target: 136.40
Right shoulder has now been broken to the upside, looking for pullback to test/rest on top of right shoulder, 135.10 area, as per yellow arrows.
CCI holding on our 240 charts as well to support our continued long bias.
Target: 136.40
Take a look 4 bars back at that 100 pip monster. Pullback did not violate its bottom, and we are still seeking a "broken" head and shoulders pattern long.
Plus, look at where buyers stepped in and the "V snap" on our 240 CCI line.
Target 1: 136.40
Target 2: 137.19 - 137.30
Long bias still in place.
Looking for EUR/JPY to pop up over 135.20, then come down to test/rest on top of right shoulder, around the 135.10 area, then proceed to our long target.
Target: 136.40
Limit long triggered overnight at 135.05 and added to long down here at 134.67
CCI on our 240 chart still holding up. This looks like a flush out to chase out weak longs.
Target: 136.40
Nice layered long, best fill got us just over 150 pips. Anticipating a little pullback/breather up here at the 135 area. Getting late here, might pass on a quick short...we'll see how this develops.
Still looking for 136.40 long target after we asses current EUR/JPY behavior.
Eurogroup meetings to end soon. Be on the lookout for some news that excites the markets. Notice the epic bullish divergence showing on our 60 minute chart (yellow lines).
Also, Greece made its IMF payment:
www.theguardian.com
Long Target: 136.40
