EUR/USD finished a well defined 12345 impulse. Looks to be topping in Wyckoff Distribution style. Should result in a markdown, perhaps to 1.18 by end of May
評論
⋅
Some fine tuning of the EW and Fibs. If correct, should resume downward trajectory very soon. If not correct, may have to rethink a larger part of the structure.
評論
⋅
EU proceeding per plan mostly. Current price of 1.22 will offer some support, being a local double bottom. If we can break below (perhaps late in week) then it opens up for continuation.
While pondering the fibs and EW waves, I found a good possibility for further drop.
評論
⋅
Updated fibs and mid-term target. Thanks to the ECB doves for giving my trade an extra push. We might not even see the wave 4 bounce below, but if it happens, I might add more on the to retrace.
評論
⋅
Still on track long term. Looks close to a temporary bottom. If 1.2000 does not spring price back up, then expect a little more of a dip then a relief bounce.
評論
⋅
Forgot to add the Monthly S1 pivot also lurking at target. I think it will have enough gravity to pull EU down that last little leg.
評論
⋅
1.9500 still looks like a nice target, but surely will bounce a bit there? Strong support likely (for now) from the Monthly S1 and Weekly S2 range)
評論
⋅
Am in this short heavy. Currently hoping for a bounce this week to short more! I will watch 1.2000 but I think it will break it for a stop run, then down. The zone I am watching:
評論
⋅
. Give the amount of gravity working on this chart, I am thinking 1.800 might be next possible support zone that might offer a little bounce
評論
⋅
In the bigger picture, I have eliminated the ''less bearish'' count, leaving the one in dark red below, shooting for 1.120 - 1.125 range
評論
⋅
For anyone still following this idea, please see my updated idea here:
@dr90210, yes, still have about 60% of my short position open from way up high.
Have been closing bits here and there, and scalping 20-30 pip shorts.
Each scalp, I try to let 10% of that small position ride, to add to my total shorts.
Am waiting for ECB news to make a bigger decision, either close most of the position, or add and keep adding....
cI8DH
⋅
couldn't it be that EUR/USD is in a "running triangle" which means it will continue uptrend?
ronaldsaw
⋅
I have a similar count to you but just wondering why your wave 2 of the current move is a 5 wave move?
EuroMotif
⋅
@ronaldsaw, Yeah, I am a little concerned about the last wave 2 as well. Perhaps the 12345 will become an 'a', followed by b and c to make the true wave 2. But after the US econ news being mostly good and rate hike looking as good or better than before, I am thinking USD should show some strength in Q2. So I may be jumping the waves a bit....
ronaldsaw
⋅
@euromotives, As per the count, this should be wave 1 of 3 of C now but there seems to be support for EUR still which is making me re-think the count.
As for the time being, C wave is still the preferred count!