Here I have EUR/GBP on the 1Hr Chart!
We can see that following the 3rd Divergent High @ .86248, price makes a steep Decline breaking the Previous Higher Low @ .85757 and creating a LOWER LOW @ .85496 turning this once Uptrend into a Downtrend!
After the New Low is created, we see price makes a textbook Retracement back to the 61.8% Fibonacci Level @ .85783 which happens to test the previous Higher Low to then proceed back down to close for the week just above the New Low!
I believe we could be witnessing the Confirmation of an Elliot Correction Wave coming where based on the ABC method:
-Prices' LH correction marking our B Point indicates that based off our Fib Ext Tool, we could see price Decline to the Range Target of ( .8457 - .84282 )
-Price Breaking the A Point will be Confirmation of potential Selling Opportunities
*.8500 will be the next area we will see Price wrestle with once it breaks the Lower Low @ .85496
Indicators: -Bearish Reading-
- Price is working BELOW my DEMA
- Flattening of the 200 EMA
- RSI BELOW 50 after creation of LL
-BBTrend printing Red Bars
We can see that following the 3rd Divergent High @ .86248, price makes a steep Decline breaking the Previous Higher Low @ .85757 and creating a LOWER LOW @ .85496 turning this once Uptrend into a Downtrend!
After the New Low is created, we see price makes a textbook Retracement back to the 61.8% Fibonacci Level @ .85783 which happens to test the previous Higher Low to then proceed back down to close for the week just above the New Low!
I believe we could be witnessing the Confirmation of an Elliot Correction Wave coming where based on the ABC method:
-Prices' LH correction marking our B Point indicates that based off our Fib Ext Tool, we could see price Decline to the Range Target of ( .8457 - .84282 )
-Price Breaking the A Point will be Confirmation of potential Selling Opportunities
*.8500 will be the next area we will see Price wrestle with once it breaks the Lower Low @ .85496
Indicators: -Bearish Reading-
- Price is working BELOW my DEMA
- Flattening of the 200 EMA
- RSI BELOW 50 after creation of LL
-BBTrend printing Red Bars
交易進行
Price opened below the Support Zone!!Upon coming back up, I took a Sell Entry @ .8550!
SL @ .8565
註釋
Just in case price spikes up to the Previous Highs, I will be pushing my SL up to .8575!!Give price some room to breathe!
手動結束交易
Price seems to have gained support and gotten Bullish after not being able to break down below the .8550 area! Will wait for the next Opportunity!
交易進行
Price has come up!Sell Entry @ .8550
SL @ .8570
交易結束:達到停損點
We can see once we get the Lower than Forecasted print of CPI @ 2.2% Actual v. 2.3% Forecast, Price soars back up above the .8550 area hitting my SL! For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
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For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。