A little beginner trader since 2006
- #21,421
- May 10, 2018 3:20pm May 10, 2018 3:20pm
- Joined May 2010 | Status: I'M NOT SIGNAL PROVIDER | 1,457 Posts
- #21,422
- Edited 6:00pm May 10, 2018 4:29pm | Edited 6:00pm
- Joined May 2015 | Status: Trader | 1,148 Posts
Hi all,
Decided to do a little EW update and some top-down analysis.
Looks like intermediate (5) and primary wave ((1)) are complete, this means we are working on primary corrective ((2)) with target between fib 32.8 - 61.8, so we entered a bearish intermediate market cycle for an (A) - (B) - (C) correction, this means 5 - 3 - 5 minor waves, we are working on minor wave 3 in corrective intermediate wave (A).
First target for wave 3's is FE 161.8, but P/A and MACD are already signaling reversal.
Daily:
We're at the lower band range on the 1Y forecast from tradingeconomics.
Forecast:
We're at a key monthly static support level (191x) printing a bullish hammer but candle isn't closed yet so let's see what friday brings first. My guess for next week is up to 203x first, probably 219x and maybe 224x.
Weekly:
So for tomorrow on the trading-grid, Pivot is shifting up to 1.19 which is monthly support. Keeping double bottoms or still continuation in mind, I'll be looking for shorts below and longs above.
R3 1,20639 R2 1,20053 R1 1,19611 PP 1,19025 S1 1,18583 S2 1,17997 S3 1,17555
H1:
Intraday Indicators are signaling strong buy, so conclusion is... probability lies above or something.
Intraday Indicators:
I'll get into minute and minutte waves later, it's late..
Greetings!
Decided to do a little EW update and some top-down analysis.
Looks like intermediate (5) and primary wave ((1)) are complete, this means we are working on primary corrective ((2)) with target between fib 32.8 - 61.8, so we entered a bearish intermediate market cycle for an (A) - (B) - (C) correction, this means 5 - 3 - 5 minor waves, we are working on minor wave 3 in corrective intermediate wave (A).
First target for wave 3's is FE 161.8, but P/A and MACD are already signaling reversal.
Daily:
We're at the lower band range on the 1Y forecast from tradingeconomics.
Forecast:
We're at a key monthly static support level (191x) printing a bullish hammer but candle isn't closed yet so let's see what friday brings first. My guess for next week is up to 203x first, probably 219x and maybe 224x.
Weekly:
So for tomorrow on the trading-grid, Pivot is shifting up to 1.19 which is monthly support. Keeping double bottoms or still continuation in mind, I'll be looking for shorts below and longs above.
R3 1,20639 R2 1,20053 R1 1,19611 PP 1,19025 S1 1,18583 S2 1,17997 S3 1,17555
H1:
Intraday Indicators are signaling strong buy, so conclusion is... probability lies above or something.
Intraday Indicators:
I'll get into minute and minutte waves later, it's late..
Greetings!
What's that smell? ---- I smell money!
- #21,424
- May 10, 2018 7:01pm May 10, 2018 7:01pm
- Joined Aug 2017 | Status: Just a little Aussi Battler | 4,569 Posts
Hi all, Decided to do a little EW update and some top-down analysis. Looks like intermediate (5) and primary wave ((1)) are complete, this means we are working on primary corrective ((2)) with target between fib 32.8 - 61.8, so we entered a bearish intermediate market cycle for an (A) - (B) - (C) correction, this means 5 - 3 - 5 minor waves, we are working on minor wave 3 in corrective intermediate wave (A). First target for wave 3's is FE 161.8, but P/A and MACD are already signaling reversal. Daily: {image} We're at the lower band range on the...
I agree on your target area SteFX85 as being the 1.739 area
- #21,426
- May 10, 2018 7:51pm May 10, 2018 7:51pm
- Joined Sep 2015 | Status: ob-la-di, ob-la-da, life goes on... | 4,499 Posts
M30 TF - Volume Profile - target 1.18750 to 1.18500
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
- #21,427
- Edited May 11, 2018 8:15am May 10, 2018 7:53pm | Edited May 11, 2018 8:15am
- Joined May 2015 | Status: Trader | 1,148 Posts
What's that smell? ---- I smell money!
- #21,428
- May 10, 2018 10:15pm May 10, 2018 10:15pm
- Joined Jun 2013 | Status: enjoying life | 23,854 Posts | Online Now
- #21,430
- May 10, 2018 10:58pm May 10, 2018 10:58pm
- Joined Dec 2012 | Status: Trader | 4,709 Posts
The Average Discount Everything
- #21,431
- May 10, 2018 11:11pm May 10, 2018 11:11pm
- Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,050 Posts
{quote} I agree on your target area SteFX85 as being the 1.739 area
- #21,432
- Edited May 11, 2018 1:15am May 10, 2018 11:38pm | Edited May 11, 2018 1:15am
- Joined Aug 2017 | Status: Just a little Aussi Battler | 4,569 Posts
{quote} Could be a bit of a chop fest in here till NY,,, 50 level and box bottom till sorted ,,better res around the big 1.20 number,,Daily 200 area should make one attempt to keep price below it ,, little support around yesterdays mid 1895 ,,last quarters low is current level ,, sty safe my friend ,,long from yesterday open and holding for 1.20 any way if it can clear box 50 level soon will be watching 1895 ish for a hold or fold ,,,hope all are doing well {image}
Ha Diggs,
As always great call my friend, i have to admit my calls are a bit light on details, but before the P/A reaches 1.745/55 area,
This bounce needs to be completed, And it could/needs to go to the 1.2055 area first. IMHO
editid from 1.2555 to 1.2055
Brian Dingoman-two
=
- #21,434
- May 11, 2018 12:31am May 11, 2018 12:31am
- Joined Aug 2017 | Status: Just a little Aussi Battler | 4,569 Posts
- #21,437
- May 11, 2018 1:03am May 11, 2018 1:03am
- Joined Aug 2017 | Status: Just a little Aussi Battler | 4,569 Posts
- #21,439
- May 11, 2018 1:42am May 11, 2018 1:42am
- Joined Dec 2015 | Status: Trader | 14,257 Posts
Wonder if Draghi will talk down the EUR later?
It doesn't sound like a possible monetary policy surprise coming.
But MBA experts might think the weird Draghi's tie color could mean some monetary revolution
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