I'm Ready 
Be Water My Friend
- #22,502
- Edited 6:09pm May 20, 2018 4:57pm | Edited 6:09pm
- Joined May 2015 | Status: Trader | 1,148 Posts
Day
I'll be adjusting my price projection for wave 5 to 1.15x, this is an area of confluence FE61.8 for minute wave (v), FE224.0 for minor wave 3 and structure support. Previous weekly candle also suggest probability is still on the downside.
H1
For the minutte count, there's already an (a)-(b)-(c) pattern formed and a first wave down. But the next best count is that we are at (b) and (c) wave is coming next. I'm also looking at a broken triangle which suggests more downside to come.
M15
For the coming few days, expectancy is lower however retracements get deeper, projections and angle gets smaller. This might be an early sign of reversal. However until 1837x gets broken expectancy is on the downside. When price moves up from the current level there is a potential crab pattern with an area of confluence around this 1837x level (structure resistance, FE224.0 and the FE127.0 extension from leg X-A.)
I'll be adjusting my price projection for wave 5 to 1.15x, this is an area of confluence FE61.8 for minute wave (v), FE224.0 for minor wave 3 and structure support. Previous weekly candle also suggest probability is still on the downside.
H1
For the minutte count, there's already an (a)-(b)-(c) pattern formed and a first wave down. But the next best count is that we are at (b) and (c) wave is coming next. I'm also looking at a broken triangle which suggests more downside to come.
M15
For the coming few days, expectancy is lower however retracements get deeper, projections and angle gets smaller. This might be an early sign of reversal. However until 1837x gets broken expectancy is on the downside. When price moves up from the current level there is a potential crab pattern with an area of confluence around this 1837x level (structure resistance, FE224.0 and the FE127.0 extension from leg X-A.)
What's that smell? ---- I smell money!
- #22,504
- May 20, 2018 7:52pm May 20, 2018 7:52pm
- Joined Jun 2013 | Status: enjoying life | 23,849 Posts | Online Now
- #22,505
- May 20, 2018 7:56pm May 20, 2018 7:56pm
- Joined Jun 2013 | Status: enjoying life | 23,849 Posts | Online Now
- #22,507
- May 20, 2018 8:21pm May 20, 2018 8:21pm
- Joined Jun 2013 | Status: enjoying life | 23,849 Posts | Online Now
- #22,508
- Edited 10:17pm May 20, 2018 9:14pm | Edited 10:17pm
- Joined Aug 2017 | Status: Just a little Aussi Battler | 4,569 Posts
The EURUSD may continue dropping to the 1.1700 level, in case of a bullish pullback, the 1.1900 level may act as resistance.
I Agree T-M,
If this price action breaks today's low (and i think it will) we should see 1.710/700 area reached easy IMHO
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{quote} I Agree T-M, If this price action breaks today's low (and i think it will) we should see 1.710/700 area reached easy IMHO
edited
looking to add shorts below 1.17440 area
- #22,509
- May 20, 2018 10:24pm May 20, 2018 10:24pm
- Joined Oct 2017 | Status: Follow the Order Flow! | 1,073 Posts
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
- #22,510
- May 20, 2018 10:44pm May 20, 2018 10:44pm
- Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,046 Posts
{quote} I Agree T-M, If this price action breaks today's low (and i think it will) we should see 1.710/700 area reached easy IMHO
- #22,511
- May 20, 2018 11:17pm May 20, 2018 11:17pm
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
Ok so, if you want to trade this Intraday tomorrow, strictly intraday speaking, and strictly based on correlation, INTRADAY, if it moves (remember Bankholidays), it should go long. (doesn't mean "it will") I stay out of EUR/USD tomorrow because I'll trade the correlating Short on the other pair (much cleaner setup with more "juice" on the table). So, Intraday I expect a small correctional move within the range with 1.176-1.175 as support. Or it wont move at all.. My weekly/monthly picture didn't change. Good luckH1 - we call this a "Slaughterhouse"...
Forget what I wrote about the intraday setup yesterday. Support got taken out straight away.
We have gaps on correlating pairs...
you are not expected to understand this
- #22,512
- May 21, 2018 12:19am May 21, 2018 12:19am
- Joined Dec 2015 | Status: Trader | 14,257 Posts
Member
- #22,513
- Edited 12:57am May 21, 2018 12:28am | Edited 12:57am
- Joined Dec 2015 | Status: Trader | 14,257 Posts
Member
- #22,514
- May 21, 2018 12:36am May 21, 2018 12:36am
- Joined Oct 2017 | Status: Follow the Order Flow! | 1,073 Posts
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
- #22,515
- May 21, 2018 12:41am May 21, 2018 12:41am
- Joined Dec 2015 | Status: Trader | 14,257 Posts
Member
- #22,516
- May 21, 2018 12:46am May 21, 2018 12:46am
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
you are not expected to understand this
- #22,517
- May 21, 2018 1:19am May 21, 2018 1:19am
- Joined Dec 2015 | Status: Trader | 14,257 Posts
My Intraday Outlook. (ahead London) Range. They use to go bullish on holidays... hm, we'll see about that. So what?! No problem if bank holiday and no news ! Trump got hysterical over the weekend, maybe he will keep on going like this... Intraday resistance : - 1.1760 zone - 1.1881 (W_mid) - 1.1823(Monthly_S2) + May9_Low; 1.1817(Fibo61.8_Pivot) Intraday support : - 1.1744 (Weekly Fibo Pivot S38.2) - 1.1730 - 1.1700 My Intraday Trading: Play small in range until an (intraday) trend. Watch carefully if a support break ......
...EUR/USD spilt over ...can you see 'the bottom'? ...let's hear the specialists here! Member
- #22,518
- May 21, 2018 1:19am May 21, 2018 1:19am
- Joined Oct 2017 | Status: Follow the Order Flow! | 1,073 Posts
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
- #22,519
- May 21, 2018 1:35am May 21, 2018 1:35am
- Joined Oct 2017 | Status: Follow the Order Flow! | 1,073 Posts
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips
- #22,520
- May 21, 2018 1:37am May 21, 2018 1:37am
- Joined Oct 2017 | Status: Follow the Order Flow! | 1,073 Posts
Instagram - FX_ELITE_Europe | In Search of #BIG_R | Need No Small Pips