DoctorSLO

DoctorSLO Updated 

From the basics of price action we have: IH: initial high IL: initial low LH: lower high LL: lower low In the past, the price targeted exactly that 1.272 Fibonacci extension, which is at 1.095. If we apply the same principle for the next wave, we can also spot a support at the 1.272 extension, which is at 1.085. The other scenario is the inverse head and...

DoctorSLO

Let's try to short it, shall we? :) Daily chart is not showing anything good. :| No lunch is for free, sadly :(

DoctorSLO

Uhm ... we will probably form a channel The low is probably somewhere at 1.293

DoctorSLO

Go go go, SHORT

DoctorSLO

So, we bounced from 1.0807, and we might be seeing a new highs before going further down. We see that lower side of the channel is supporting the uptrend. We also got a nice bullish moves previous week. For the take profit point, I picked the 1.272 extension of Fibonacci. MACD is also in a perfect position to continue uptrend, so we probably won't see a deeper...

DoctorSLO

Staying neutral to see what will happen. If the resistance at 1.446 gets broken, we should wait for confirmation before entering long position.

DoctorSLO

According to the analysis we could expect some minor retracement to the marked "Retrace area". There is a possibility that we would just touch the top of that area. After that we could expect the price to go to 1.62. I will be looking to go long at the retrace area (probably next week), and TP around 1.61.

DoctorSLO

A gold? Be careful, not everything shiny is a gold.

DoctorSLO

I am just a beginner. Will see what will happen. Generally I am expecting a pullback as the entry is showing.