Looking to bounce 800 to 200 on 1hr... Watch those Austrailia spreads though....
Gold coming off 800MA that is about to meet with a turned down 200 MA on daily. Definitely strong area of resistance. Divergence on 4hr.
Coming off the 200 and 800MA's on 4hr. Will most likely break that high. Could have a correction here for an "X" wave to break trend line, then up, but I think headed to that zone.
I expect UKX to make one more move up at least to make this at least a 3 wave correction, but with the potential of a much larger move.
I posted my daily wave analysis yesterday. Looks like it may sell down some more. If you sell it, then, if you can hedge, let some run when it's in profit in case it keeps going and then look for a buy setup. That way, if you got in the buy and it didn't go... You only loose partial profit on the sell. That's how I prefer to trade personally. But if you look at...
I'm not messing with this just yet. But I would just like to point out that considering the dollar index is in that channel which can break and can make another shoulder up (possibly small), you may get some trade opportunities on Gbp/Usd. The price action it is making makes me think it may make a running flat, or even possibly a correction for a WXY type pattern....
I can never say for certain the exact moment a monster trade turns, all I know, is I pointed out the sell from the very tip (hopefully here depending where you are reading this) and I am convicted to take my chances and just let it run. This is because we did have a completed 5 wave, seem to still be in correction, and considering that a price action channel like...
I posted this before. I believe the correction to be completed and looking to take it down. You see the 1.618 level. the 1.236 extension, which is usually what this 7 swing hits, lines up with the 78% fib, so I would let some run to there, and then look for a long opportunity, which will be much more pips.... Those MA's are the 200 and 800 that it is below, as...
EU off the 800 ma, stand by for monthly bollinger bands all you indicator fabiosos....
So we had our big breakout move from the head and shoulders pattern and now we are retesting the neckline and trend line at the 61.8 retracement. there is still a lot of potential to the down side with this one and it has just hit my entry.
Huge multi session double bottom still in play. Have a nice retracement to the 800EMA. Price will most likely bounce a bit, and once we see price lift towards the 50EMA then we have a nice entry for long about 25 pips.