Coreg's EW+HP+D/W Range

Quoting Coreg2004

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{quote} 5M the trigger chart. The market cooperated nicely with my #1 pattern to trade after the NY Open. The first target at 1.3432 was hit relatively easily. Is the drop the first leg A in the zig-zag pattern? {image} {image}

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Quoting Coreg2004

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There is a chance that GU will still go down. A close above 1.3562 invalidates the current downside pattern. Wave 4 usually has a complex correction. {image} {image}

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Quoting Coreg2004

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{quote} 1-5 pattern was invalidated. The GU got above 1.3562 {image} and 30M TF for day traders{image}

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Quoting Coreg2004

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and intra-day 30M chart for today only. {image} {image} {image}

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Quoting Coreg2004

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{quote} The dollar index opened on Sunday above TL and easily cleared the first resistance zone. .{image}

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Quoting Coreg2004

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{quote} The market gave us more than we bargained for. I will update the chart after the NY Open. {image}

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Quoting Coreg2004

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{quote} Only the market can tell you if you are right or wrong. Follow the market structure.{image}{image} {image}

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Quoting Coreg2004

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{quote} So far, the market is cooperating with a potential reversal from high. 1.3454 was too strong to overcome, and GU resumed moving to the downside. {image}{image}

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Quoting Angoeswild

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{quote} Hi Coreg2004, where do you think the next consolidation of GBP will take place according to the market structure?

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Quoting Coreg2004

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{quote} On the daily TF, if the market closes below the swing (iv) @1.3369, we should keep an eye on the 1.3300 level. Look to the left, there is an untested demand zone. {image}

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Quoting Angoeswild

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{quote} Yes, pretty strong level, but it seems that there are lot of chances it will be broken through, and a long consolidation will occur only at the 1.3100.

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Quoting Coreg2004

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{quote} Is the Dollar Index in the process of making a second correction leg? {image}

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Quoting Coreg2004

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{quote} On the daily TF, if the market closes below the swing (iv) @1.3369, we should keep an eye on the 1.3300 level. Look to the left, there is an untested demand zone. {image}

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Quoting Coreg2004

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EU daily chart, with only 4-5 swing retracement. {image}

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Quoting Coreg2004

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{quote} The euro is very weak. The avg. weekly range greatly exceeded. {image}

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Quoting Coreg2004

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{quote} Target #1 @1.3327 hit, GU found temporary support at the demand zone around 1.3300 and now trying for target #2 @1.3165 {image} GU had a mediocre bounce, only to regain 23.6% (1.3373) of the entire move down.

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Quoting FBarthez16

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{quote} EURJPY has also been in freefall. Do you think given that the euro is undervalued at the moment, it could be profitable to pick up some cheap EURJPY? Thanks.

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Quoting Coreg2004

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{quote} FBarthez, I haven't traded EJ for a very long time. I was fed up with PA in April, and the pair doesn't move too much during my trading hours (the NY session). Check the weekly chart. This week, EJ makes an ugly weekly bar. {image}

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