Circular Trendlines

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The S&P is in for more downward action. EUR will follow the same direction as S&P. The way that S&P is dropping and has penetrated the pole of the red circle downwards, shows no mercy for any upward action. It is at a resistance spot where the black circle is. At a minimum it will drop to the lower boundaries of the blue circle which could also overlap the center area of the red circle.

Advice is dont go long on the EUR

My comments are on the chart, but I dont think trend will be going up

Hi all
I take sell yesterday 1.4370 and 1.44 and closed today with the down move
Reason for close : Not sure where it go from here
My 4h and daily bullish but not convinced so i prefer watching PA

Totally agree..I was looking at 4H...looks bullish as all hell, but Im no convinced on the daily.................

E/U
I been saying since last week 4260 will play over and over Now let's c next 2 days of the week what will happen
i sell@ 1.4440 and sell limit @1.4470
GL All

Lock most of my profit@43
PA will go 1.44 again

Since motion is in between 2 curves, it will not stay or move very much between the curves. It will gravitate towards one or the other. For now motion is deciding to break the pole of the black circle, and if it does we will be dropping below 3850 to 3650, where the black straght trendline is located.

Lets see

maximum up is to around 4350-4367 region, afterwhich we should be experiencing another series of downfalls to 4050 level.

1.4420 was exactly my point and i sell now from here@ 1.4420

U called 4420 to a T on the EU thread....awesome

Upward movement almost done at around 4440-4460

4450 i sell. pending sell limit 4535

New Month of September/End Of August Shoud start a huge impulse wave downwards...

H2
This pair is at a important resistance level in its corrective move that has started from the vertical dotted blue line. It is at a double resistance level, shown by the black curve and the black straight line. If motion fails to go higher than 4420-4450 level, it will rebound and break the gray circles and land as its first target at the 4000 level.

This would most probably present itself through a phenomenon called "5th wave failure" in Elliot Wave terminology. The 5th wave of the last impulse wave will fail.

If the 4420-4450 level breaks through a spike, then the probability that 4530 will be breached increases with time, and if 4530 gets breached, then the interim target would be the 4900 level or very close to it.

For now we are still at reasonable levels of a sell, and lower highs are presenting themselves from August 17th onwards.

More downward sentiment to 4340 is expected, but beyond that becomes questionable.

since the possibility of a spike to 4420-4450 remains high, a better sell opportunity could be waiting around that area.

From August 15th onwards, Price Action activity has been mainly happening in the lower half of the blue circle, with sporadic entry between the 2 red lines.

Since motion has also adhered strongly within the 3 lines labelled as T2,T3,and T4 and it has failed to reach T4 on its last attempt, we can conclude that its attempt at establishing a base to go further up is starting to fail. For price action to solidify a uptrend, it needs to grab hold of the T4 line.

Any failed attempt of price action to push through the pole of the red circle will cause it to rebound and break the T1 trendline (solid red one). A good sell entry with a tight stoploss should be placed very close to the the pole of the red circle.

The break of the T1 trendline will land first on T5, before finding support at the lower blue circle.

There are 2 price acceleration zones. One is the T1 to T5 trendline, and the other is T5 to the inside perimeter of the blue circle.

The megaphone structure denoted by the solid T1 and T2 lines is almost in its last wave to finish itself. Note that the touch point of the recent high is at the center of the black circle and also the motion upwards starting from the vertical line on August 19th has also started from the center of the blue circle. The center of the black circle should offer a good size resistance to the motion going further up. At the present moment a decisive upward acceleration of the price action, given its reaching the center of the black circle in a very jagged form is very unlikely. More likely is a break of the T2 trendline and a decend towards the center area of the red circle, somewhere around the 4220-4260 zone.

Expanding environment on M1, should be reaching its limits soon...