This is neutral ideal so far. I marked possible overbalance at the chart with possible sell zone. It's worth to keep an eye on this pair. We'll know more just after GDP news in the UK.
Hi everyone, EURUSD got rejected at 88.6 fib on W1, currently trading below 78.6 fib which was tested today. Negative bias is continuing which could take us all the way down to 1.1946 where we have overbalance and previous resistance. I would like to point out that below that level we have 61.8 from last rally which may be test, if that won't hold the negative...
Down trend could continuous longer than we expect.
Rebuilding the economy may take longer than we expect, if we receive very bad news from the world.
Take care of yourself and keep your eyes open.
Im bearish on the XBT
Nice correction from almost 14k, time for a temporary trend change.
A bounce from the 50% fibo, good sign we are going down.
Last few months this overbalance method was very profitable
Buy: 11915
TP1: 11591
TP2: 11064
TP3: 10301
SL: 12435
Im trading out a new method called overbalance aka correction 1:1
The idea is simple - during a swing You find the largest correction and highlight it with a square.
Next step is to fit that square so the top line is on the HH of the current trend.
You take the position on the lower end of the square (green thumb up) and set TP just slighty above the current...
This count for full wave A of ABC correction from the latest uptrend (from 5800). the 5th subwave isn't that clear yet. And it didn't touch 1.61 fib retracement from wave 1 to 3. But this may count.
So did we start drawing B wave?
JPY is quite strong. Actually idea is retest from the bottom SR zone after breakout... SL not so wide, 22% of last biggest correction move. It was already executed, so maybe there won't be retest (of retest) :)
