Well, the SPX headed lower and broke the 1 but also the (presumed) wave 2 level. Meaning that the red count was invalidated and we are working only with the pink one. The current set-up is getting unclear again though since the market had a 3 wave decline and then bounced strongly. For the downside to be clear we would have needed an impulsive decline... So,...
As we see price didn`t go above trend line So it give me a chance to believe in short Last candle (on 14.1.2016) bounce from line - confirmation of my view. SO. 1) Trend line 2) No big good news for eur 3) Global trend is sell and more big guys prefer short
i think its still in a bearish trend and going to head down a few more pennies before the trend changes depending on where it goes on sun open ill wait to see what the market does probably retrace back up a smidge and take another plunge into my pockets$$$ again just started marking charts so if everthings wrong idk what im doing lol
Clear breakout in the elliot impulse wave, downside movement expected
NZDUSD short oportunity. Waiting for a candlestick formation on a lower timeframe.
The reaction post FED was a bit unexpected, at least for me. All indices ramped up (dax not so much actually) and then reversed with conviction. The big question now is - what's next? Is this choppy 4th wave finally over? A look at the daily provides some clues. The peak of the bounce was just above the 50% Fib retrace, while the decline from there looks like...
Short Entry @ 191.640 StopLoss @ 192.220 Take Profit @ 189.770 Broken Daily support over bought have had a double top in the past couple days which ran right back into the support turned resistance marked by the pink line. Fundamentally the Yen has gained some strength and it is being shown a little bit across the board. Technically we can see a lot of...