Checking my chart 15m now.... I am looking at 2.0295 as a possible entry for my Short. That is a little over 61.8% retracement for the wave 32.
4hour stochastic is already overbought and looks ready to crossback thru the level 80.
DislikedPossibly....also see where it coincides with the trendline down, that point might be a good entry. also depends where the end of 3.1 is.Ignored
Dislikedso far my charts are playing out well
How's everyone else doing?Ignored
MY Sell Limit Order @ 2.0296 was not hit while I slept.
Will Wait for a good entry and will just leave this Sell Limit Order but will lower it to 2.0285 for now.
I am attaching what I see as a potential scenario or this 1st Leg Down.
But first, a 5 wave impulse must be seen as completely formed lower than Yellow 54 for the wave 31 or the 1st leg of wave 3 down.
Then a retrace of at least 61.8% UP for the wave 32.
Then if indeed this is wave 3 down, by using the FIB Extention tool, my TP for wave 33 will be in the range of 2.0069 and 2.0018
Let us see how this unfolds during the Asian Session.
On the the daily I am expecting support around the 2.0100 area and the end of C.3.1 it may coincide with housing news later. I will close my short there. We should see a retrace to around 220/250 for C.3.2.
Let's see what happens.
Disliked2.0100 is my weekly pivot
2.0091 is my monthly pivot
1.9986 is the weekly support level 1