Folks,
So Shinzo won with a landslide victory but price didn't do much. In fact, instead of drastic bull movement as predicted by bulls, price actually went down after the open.
My view still intact, the only change is that the b wave became a lot deeper. There is still a chance for a c wave higher to 119.91 (FE100 of wave A) or 120.16(61.8%) retracement.There is also a chance that 2nd wave is already complete and we can go drastically down for a 3rd wave from this point. This is the reason i am not buying. My first sell is at 119.63 (.25 lot 1/4 position) 2nd at 120.15 (.25 lot) Sl on both the position is 3 pips higher than the highest high. Calculating the expansion my first TP is at Fe 100 (115.24) and 2nd TP at Fe 161.81 (112.53). If it goes higher to 120.16 TP's will change accordingly.
If none of my sells hit, i have sell stop 3 pips below the low with almost same target.
Good luck to everyone.
The yellow fibs are retracement and the aqua is the expansion.
Here is a chart.
So Shinzo won with a landslide victory but price didn't do much. In fact, instead of drastic bull movement as predicted by bulls, price actually went down after the open.
My view still intact, the only change is that the b wave became a lot deeper. There is still a chance for a c wave higher to 119.91 (FE100 of wave A) or 120.16(61.8%) retracement.There is also a chance that 2nd wave is already complete and we can go drastically down for a 3rd wave from this point. This is the reason i am not buying. My first sell is at 119.63 (.25 lot 1/4 position) 2nd at 120.15 (.25 lot) Sl on both the position is 3 pips higher than the highest high. Calculating the expansion my first TP is at Fe 100 (115.24) and 2nd TP at Fe 161.81 (112.53). If it goes higher to 120.16 TP's will change accordingly.
If none of my sells hit, i have sell stop 3 pips below the low with almost same target.
Good luck to everyone.
The yellow fibs are retracement and the aqua is the expansion.
Here is a chart.
STING