Hungrypippo

Hungrypippo Updated 

Rejection of some fib levels can be seen in the current price retrace. IF price can pull back to the green or a harder support below that (orange area), we'll be looking for PA to Long. TP at the 1600 zone (purple). *Note that a strong resistance lies at the 1567.455 region (denoted by orange line).

Hungrypippo Updated 

If the 1.73043 zone holds, would be looking for a short to at least the 1.69693 zone and further to the zone down from that for confluence with other technicals. *Note that this could be a longer term trade and arrows on chart doesn't mean immediate impulse in that direction without retracing and moving in waves.

Hungrypippo Updated 

We may be a little late on this pair but let's let the market decide. If there is still a retrace to a weekly zone (orange line, the area above that is a Fib level), wait for PA to go short. Confluence of Fib level, weekly resistance and volume make it a sweet spot to go short. TP is also a confluence of a monthly resistance (red) and a fib level. R:R is about 1:2.4

Hungrypippo Updated 

Major Fib level acted as good resistance 2 days back. As far back as the given chart goes, the recent highs are in uncharted waters, however, I believe the major Fib level will hold (*but it could be tested again either forming a double top or breaking through. IMHO, TA may favour a double top but current fundamentals may push it through the top to form new...

Hungrypippo Updated 

We're expecting the current market price to rise to the Fib61.8 area (1.1025+) for confluence with Resistance and at the same time take out SL(es) placed there. Thereafter we'll monitor PA for a Short down to previous designated TP (orange line(zone)) which is the confluence area of various Fibs and resistances. This is an extension and also an update to the...

Hungrypippo

*Note that this is the monthly time frame. Price is forming a Bullish wedge and in conjunction with Elliot wave's 4th phase. Prices have rejected the Fib78 region several times. This would be a good time for a longer term investment trade. Even a failed EW's 5th wave will see us get till at least near previous highs at 124.00 (TP1). A full wave play may get us to...

Hungrypippo Updated 

A breakout from either side will see price move to confluence support zones of Fibs and SR. Preference is to see price break upwards as a retrace of current down wave fib50 region (in confluence with other resistances) and thereafter shorting down to the TP area Fib 38.2 (in confluence with other resistances). However, if GBP remains bearish and NZD remains...

Hungrypippo Updated 

Price has previously risen to the point we would have liked. Pin bar noticed on the daily. Waiting for bearishness to show up at 4 hourly for a short trade. *Note that there's some resistance immediately in the zone below. Let's see if price can clear that. If it does then we couldl head towards TP at the black line (zone).

Hungrypippo Updated 

Trading plan for when it reaches the towards monthly red level - As red level is also in confluence with Fib 1.618 of the 1st wave Expecting price to bounce off this level for a pullback. TP1 target at Fib 23.6 retracement for about 130 pips (if CAD is still strong) but lower R:R or TP2 at Fib 38.2 at about 200 pips for better R:R; relative to your risk appetite...

Hungrypippo Updated 

Bearishness is still seen in the structure, if it could pull back to red monthly significance level and show more signs of bearishness, then a sell would probably take it to the next monthly significance level. However, it could also range between the daily (green) and upper monthly (red) significance levels before heading down. Or if market is very bearish, it...