HERE WE HAVE A POTIENTIAL FLAT FORMING IM AM LOOKING FOR ONE MORE UP TO COMPLETE THIS CORRECTIVE MOVEMENT THEN I WILL BE TAKING THE SELL IFTHE SETUP SHOWS ITSELF THIS IS A 300 PIP MOVE.. HOWEVER WITH GBP BEING CLOSE TO BREXIT I WOULDNT GO VERY HEAVY ON THE LOT SIZES AS THIS GOOD BE A RISK..
45% risk management
HERE WE HAVE CADJPY ALOT OF DIVERENCE AND LOOKS TO BE RUNNING OUT OF STEAM,
SELL SETUP... IN THE 1HOUR TIMEFRAME WE SHOULD SEE A 3 TO 5 WAVE CORRECTION GIVING US A 4HOUR CORRECTIVE PATTERN THESE CAN BE RISKY TO TRADE AS THEY TAKE THERE TIME TO MOVE ANYWHERE..
BUY SETUP... WAIT FOR A 4HR CORRECTION TO FORM THEN THE BREAK OF THIS WILL GIVE US A BUY SETUP YOU MUST...
We have a corrective pattern forming this looks to be a contracting flat however cannot confirm this as of yet so will watch closely for confirmation, with this is mind will be looking for the third wave down to complete a 3 wave pattern using the 1hr 270 fib as a target profit at a price of 126.819..
With a possible expanding flat completed, will be looking for a break of the 4hr trend line and confirmation. If a 1hr confirmation occurs then will be entering this with a target profit of the daily 270 price of 1.26274.
Potential sell opportunity this week, has completed a 5 wave corrective pattern with divergence, will be looking for the next 1hr impulse down with the 270 as target profit. This would give us a complete 3 wave pattern in the 1hr.