Ltc Correction.Increasing selling pressure, Rsi indicating over bought and a completion of the Eliot waver formation shows indications of an eminent correction. Expect a Double top formation at B as the markets tend to retest the Resistance level before heading down to the 38.2 Fibonacci level for a possible continuation or down to the 68.0 Fibonacci for consolidation to next move .
Eliotwave
Resistance setup-EURJPYPrice has stopped in a resistance level (129,00 aprox) showing a clear bearish setup. Price is showing a corrective structure(flag) wich has rejected 61,8% of fibonacci retracement. Also, price is below MA200. We must see a clear breakout of the corrective structure to think about a short trade.
EURNOK buy setupHi guys,
The pair EURNOK looks like a buy. The pair nicely landed on the resistance turned support structure, and there has been a nice bullish engulfing signal and a clear follow on to the upside after. It is clear that there is more upside to be seen, and I am expecting a move to at least the previous structure high, as outlined on the chart.
Best regards,
Tom_Killick