FXPhantom

FXPhantom

Go short Aussie on bearish candlestick formation. And possible end of abc correction. Stop at 1.037. Target1: 1.0293

FXPhantom

Although last impuls looks quite bullish we might have low risk entry for short position. Go short around 1.305 - the level where we get C = A of the corrective move up and price projection of the 5th wave of C (5 = 1.382 of 0-3). Stop at 1.307, first target: 1.3.

FXPhantom

Go long on the break of the sloping trend line, bullish momentum reversal and bullish divergence on MACD. Stop at 1.284, target1: 1.2928, target2: 1.297 - 1.298 area.

FXPhantom

Go long on the break above horizontal resistance, looking for retest of the sloping trend line around 0.382 fib retracement.

FXPhantom

What will come first 1.04 or 1.034? I vote for the move down as I kind of miss the final wave down...

FXPhantom

Go short aussie on retest of the broken SHS neckline which happens to be old sloping trend line. Stop: 1.042, Target: 1.022

FXPhantom

Pair did not manage to crush 1.627 resistance (1.63 is the last mayor top from the end of April). Now testing the lower line of the rising channel. If the line gives, the way to retest the lower trendline will be opened. It's quite a way down!

FXPhantom

Do we observe ending, expanding diagonal here (c of C)? Only if this is a case wave 4 would be allowed to penetrate wave 1 area. In this scenario plan is to go short to 1.252 area target and long on reversal to go with the last impulse up before the sell off.

FXPhantom

Today's move made me change the counting of waves. Now it looks to me more like a double ZigZag. The target would be the yellow area on the chart (described on the left). The move up is corrective due to the overlaps.

FXPhantom

Me might have just finished b wave of ongoing correction of 5 wave move up to 1.26 level. Edit: after today's move I am not convinced last swing up might be b wave. Thus I am changing the counting: check it here:

FXPhantom

Get short on retest of horizontal resistance level to ride the C wave down to 0-A = B-C target at 1.034 or even better to 1.022 which will be 0.382 retracement of entire cycle up from below parity to the recent top and 1.618 extension of 0-A from B.

FXPhantom

We're facing breakout above descending resistance line. Go long on price testing the line again with stop below horizontal support area (two past tops) in case of the bull trap.