nelsyboy

nelsyboy

I suggested LONG on the 26th June and the retrace touched the 50% FIB mark which seems to be quite a popular level and one where SELLERS have come in. However, I'm sticking to my idea of a continued move up to the projected target.

nelsyboy

The retrace of the move up that started on 18th March has begun. Already the FIB 23.6% has been hit and I see further selling ahead down to the projected target. I expect this to be a long drawn out drop to the target with plenty of ups and downs.

nelsyboy

I published an idea on 12th June to SHORT this pair as part of a mini ABC pattern. That has come to fruition but what next. Trying out my new use of the FIB tool, I think that the ABC retrace has come down with such momentum, that further waves down will continue to the 76.4% retrace. It's already hit the commonly hit 50%.

nelsyboy

Price is now starting to re-trace the initial move down that started on 8th June. It is a BUY to the FIB 76.4% according to the strength of the upward move past the 23% FIB. That's not to say it won't retest the bottom first but the overall direction will be UP.

nelsyboy

Retrace completed on 19th June and now the buying has recommenced. How much of the move down will the next move up cover. Another opportunity to see if the FIB can be used to project the price target.

nelsyboy

This has been rather tricky to predict the top of the move that started in March. On first glance, this looks like it BUT the retrace has been subdued and hasn't even reached the FIB 23.6% yet. I therefore feel that although the long term view would be SELL, the road ahead may be rocky with possibly a NEW TOP. A move to the FIB 23.6% would definitely confirm that...

nelsyboy

The retrace down to the 76.4% has completed the move down. The BUYING has already started. Based on FIB projection, I see a BUY up to the target.

nelsyboy

The move up from 7th Jan completed on 19th March and has since retraced to the FIB 76.4% level. I now think that is the low of that move down and it has started it's move back up. Using the FIB tool to project the possible target, I think it will be the 61.8% FIB retrace level of the move down from 19th March.

nelsyboy

I have been experimenting with the FIB retrace tool and this is my idea. The move up from 19th March has completed the top. The retrace is underway but how far will it fall. I have used the FIB tool to project a possible end by placing the 76.4% line at a place where I think it fits. This then puts the projected fall to the 50% fib line of the initial move up. I...

nelsyboy

On June15th I published an idea to go short on this pair. That has worked out so far but what about potential targets. The initial move up from 19th March, I think has hit the top. A sub move from 18th May in mini waves has completed and so I think the selling should continue. The rate of the selling retrace is slow and unconvincing at the moment. Therefore, there...

nelsyboy

I have been experimenting with the FIB retrace tool. By placing the retrace tool at the top then placing the first 76.4% marker where it looks right, that projects the possible extent of the retrace. In this case it looks like 50% of the initial move up starting 19th March. Therefore, still plenty of pips to gain. It will be interesting to see how this pans out.

nelsyboy

On the daily you can see three days down and now the most recent 3 days of buying has fallen well short. It is a SELL.

nelsyboy

I normally only show daily charts but the 4hr shows it a bit clearer. I think the buying is done and it's a SELL to at least 0.9050. That is the the FIB 50% retrace from the initial move up that started middle of March. This current move up has hit the 61% FIB from the initial move down on 9th June. It may of course go higher but I think that todays candle will...

nelsyboy

I published an idea about this pair and I think we have now seen the small wave B retrace as part of the mini ABC. The wave B has touched the 50% FIB of the wave A move. Therefore I do think the next move will be a BUY up to the junction of the top trend line and the FIB50% mark from the initial move down.

nelsyboy

This pair have caught me out in the most recent past. However, I believe this will be the future price path. Todays candle may have laid the way for further buying in terms of a pullback for waveB then it's selling down to the FIB50% as a minimum target. I'm hoping I have got this one right this time.

nelsyboy

Just matching up the path of this pair with others to see if they play out the same. I am interested to see if the large amount of buying continues tomorrow or will there be a small waveB drop. If there is, then a BUY back up to the FIB50% would be on the cards.

nelsyboy

So far the plan is playing out. The test will be the bounce off of the trendline. I think there will be a BUY back up to retest high as temporary USdollar weakness kicks in. This is expected in other pairs as part of a mini wave B tomorrow or Monday I think. If there is a break of the trend line, then I believe the 50% FIb would be a possible Target.

nelsyboy

On the 8th June I published a still LONG idea. Now we are looking at a retracement in the form of mini ABC wave as per chart. Some may short now to get in on the move. Others may wait and try and predict the top of wave B before getting in. I think a respectable target would be the 50% FIB.