According to last waves we will be waiting for price action on the highlighted zones to enter either short on the upper zone or long from the lower zone Good Luck
Right now it looks like price action is forming a triangle pattern/wedge. I'll wait to see if price reaches the previews lows and look to buy long for 200+ for the week on this pair. My bias this week is LONG. If price breaks out and passes preview high I'll wait to see were price will top out at. FXT :)
The previous ideas worked really well. Let's see this one <<
The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics. Thomas Sowell
The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics. Thomas Sowell
Another GBP trade this setup is looking to break pattern but would rather wait for trend line break. One more move higher is still possible so not ready to place capital on trade just yet!
Wave 1 suggests investment may stall around 2600-2742.5 for end of wave 5, however if not worn out already may breakout even further. i thought it would be interesting to see if markets correlate or react differently with a switch of party (R-D, D-R) Prior to the 07-08 mortgage crisis is highlighted with the light colored rectangle. Nothing conclusive yet,...
Following the market movement, ending diagonal can either be followed by a zigzag or a flat and in this case, the market formed the first part of a zigzag
Here is a perfect example of a harmonic pattern but not a harmonic pattern opportunity! An ideal Deep Crab that has many WARNING SIGNS. The Terminal Bar (the exact completion point in the PRZ) and RSI condition are less than ideal. Also, Harmonic Traders must understand that the EXECUTION PHASE of any harmonic pattern OPPORTUNITY does not begin until Terminal...
Breakout is a close above the current level