we need to identify breaking for downwards first before entering the market!
in chart is most of the idea, and in lower time frames divergence will be spotted which will tell us the entrance, im long from 139.550 and will put trace stop after it passes TP2.. plss share in comments if u have something in mind..
this is not a signal but just observation! all eyes on Lady Yellen and mr. Draghi! Draghi sead what he have and ECB policy stands as it is.. all w8ing for tampering QE which in several occasions was sead its expected at the end of the 2017 and start at 2018, when ECB might consider about raising rates! so nothing new there! and all eyes r on Lady Yellen and next...
all the corrections from the waves r flats (3x3x5) and that 5 is motive wave, but as u can see they r all shrinking in every next correction. till now it have 4 motive waves whos bouncing from trend lines which points that this is corrective triangles and needs another one 5 motive to finish point E and to get out of this range. imo getting out will be upwards!
divergence is showed lets try shorting here, this is more of a message to self! plss if u follow it will be on ur own risk...
following the weakening of the dollar new up trend has started and now we r looking at the end of the motive waves of first cycle, (small red letters) and correction is starting showing divergence on RSI. so cose its the first wave retrace needs to be more steeper and thats why i choose butterfly. (no it cant be crab cose point "a" needs to retrace at least to...
in my previous analyse i entered sell with that pink cypher and hoped for other form of correction to that wave!!
the chart is showing divergence which is strong signal that price will reverse, along with double bottom and cypher imo we r going up. im putting small volume tho, careful with management...