or around 1.0900 round number resistance for a top. Before I get short I want to get confirmation first. For that I’d like to see some type of reversal price pattern 以房养老骗局 柬埔寨禁出口沙子

Business This Elliott Wave blog is an excellent profitable source for forex trading signals. The EUR/USD has appeared to have to topped as projected last week. It has followed the channel resistance well so far. A nice close beneath the previous low will also break down the upward sloping channel at 1.0710. A nice close beneath that level should trigger heavy selling pressure with the wave ii) high remaining intact. Once we get a convincing move downward I will restructure the chart and channels to the downside. Look for lower levels immediately from here. Update: the EURUSD has pushed again to a new high, busting my forecast. It’s still rallying in a corrective manner so the key is to look for tops and selling opportunities. The price is consolidating in a possible triangle right now and since triangles lead to thrusts and reversals. So, I’m looking for an initial move higher to the 78.6 Fibonacci level at 1.0923, or around 1.0900 round number resistance for a top. Before I get short I want to get confirmation first. For that I’d like to see some type of reversal price pattern, like bearish engulfing candle, shooting star, etc. In addition, a nice close below 1.0800, which has been a resilient level the past couple weeks, would also be a good sign a top is in and the bears have regained control. Update: the EUR/USD may have resumed it’s downtrend. There’s a nice topping formation near the 23% Fibonacci level, and the area of a previous 4th wave (not shown). It’s a very shallow correction relative to the preceding decline, but it’s a 4th wave and so 4th waves tend to be shallow sideways affairs. So the downtrend may be getting back underway here, especially if it can close to new lows beneath 1.0800. I’d be looking for shorts as long as price stays below 1.1216, but should find some stiff resistance at the moving averages shown on the charts, as well as the 23% Fibonacci level. Here’s a wave count on the hourly chart so you can see how it’s unfolding from an intraday level. As long as the series of lower lows and lower highs continues, the trend is down, it’s as simple as that as we start the week again. The latest push higher from the AUDUSD 4hr chart created a divergence between price and the RSI, suggesting the rally off the .7550 level is exhausting. This exhaustion is also confirmed on my own indicators as they are showing the AUDUSD is way overbought on the short term timeframe, and approaching overbought on the longer timeframe. I don’t like counting corrections as there are so many EWP variations, and it’s very difficult to predict which one is unfolding at any given time as they can continue to morph into combination and combination. So I usually just look to confirm that it is in fact a correction, and I try to find a 5 wave move in the direction of the correction since C waves typically end corrections, and C waves are impulsive. Here on the AUDUSD 1hr chart we do see a 5 wave rally into the high which established the RSI divergence shown on the 4hr chart. .8040 looks like a good shorting level with a tight stop for aggressive traders at .8055, or at .8067 for less aggressive traders. The EURGBP is very stretched at this point and the 5 wave rally accompanied by RSI divergence is sending a strong signal that a nice pullback of 100+ pips is coming very soon. I’m targeting the 7300 area since that’s just below the previous 4th wave and also round number support. The pair fell as projected and achieved the .7300 rather quickly. I’m flat this pair now and waiting for the unemployment news tomorrow before stepping back in to analyze the markets again. About the Author: 相关的主题文章: