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BTCUSD:Quick Wave (E) UpdateAs of my last post, numerous signs pointed to Wave (E) being complete. With this morning's move down, it re-opens the idea that Wave (E) is not complete (although it still could). If Wave (E) is not complete then we have a good target for when it may complete. The price target would be $630.09 which is the 61.8% fib ratio of Wave (C). Typically Wave (E) will be 61.8% the length of Wave (C) which takes us to that 630.09 target. The time target is July 27th at around 8AM EST (noon GMT). This time is exactly the same time length of Wave (D). Fib ratio of 1.0 (60 bars on the 4 hour chart). Likewise, this is exactly the fib ratio of 2.0 of Wave (C) which was 30 bars on the 4 hour chart. If Wave (E) is not complete, which is what I'm leaning towards then hitting $630.09 on July 27th at noon GMT makes a perfect target where we can place a buy order followed by a stop loss at $609.78 which is the bottom of Wave (C). If the low of Wave (C) is broken then that would be bearish and we would need to re-evaluate our waves.
BITFINEX:BTCUSDLong
by Volatile_Victory
3
BEARISH CONTINUATION USDCHFUSD/CHF has been trading within a small range for the last couple of days as it struggled to breach the countertrend line. however even though it is still within that range it has again closed below and retested the trend line and is looking like it is picking up some downward momentum with a strong bearish engulfing on the daily chart. a breach of 0.95910 would set up an aggressive selling oppourtunity down into short term target at 0.94660. a more conservative trader should wait for a close below the previous break at 0.95707.
Short
by Joe_Keegan
POSSIBLE BEARISH CONTINUATION GBP/JPY (4HOUR)GBP/JPY has recently broken out the bottom of an ascending wedge pattern after a false breakout a little while ago. A close below 153.687 could set up an aggressive entry opourtunity with mind to a continuation after a retest and continuation of previous support/resistance zone. The more conservative entry would be to wait for a break and close below the original breakout retracement at 152.942. Targets would be the 1.27 extension at 149.951 and the 1.618 at 146.182. bare in mind the base of the wedge comes slightly before target 1 so depending on your plan you may have to adjust targets depending on your rules.
Short
by Joe_Keegan