Cup&handle formation currently in progress at 4hr TF on EU and AU. Also PA can be judged as one of the clear harmonic patterns (crab, butterfly or etc.). So, I have more confidence in bullsh bias on that currencies and will wait for tdi trigger
Yes, Snusnu, I caught a move on EU. For now, as EU stands at level of strong resistance/overbought area 1.439-1.44, I expect some retracement. Right now Head is forming on 15M TF, clear divergence - wait for RS and TDI trigger
1. For 15M TF models - time periods are 8Hrs, we want to see divergence and model formation in different 8HRs
2. For 1H TF models - time periods are Days, we want to see divergence and model formation in different days.
3. For 4H TF models - time periods are Weeks, we want to see divergence and model formation in different weeks
My current vision of SPY - I expect right neck formation and then right shoulder formation.
I will play right neck part if:
1. 5M chart gives me an entry long by breaking the SonicR channel.
2. Advance/Decline ratio on 2 min chart will confirm the entry.
3. A confirmation of market momentum shift will occur - all US industry groups will go up in price prior to my entry.