The question is not if it's going to drop that hard, the question is if it's gonna honor the fibs and provide a good entry. When it hits the fan, don't say you weren't warned.
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XAU/USD (GOLD) is about to make a crucial decision. If the yearly support trend-line is broken, then I will loose all my faith in this precious metal until $1100. However, it it manages to bounce in a corrective manner, then I will be happy to look at it with moist eyes later on.
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YEN pairs seem to be showing the possibility to strengthen considerably against all majors. Technically speaking, EUR, GBP & USD all fade against the all mighty YEN. This can only mean one thing: risk-off period. Bears coming out again for another dip. EUR/JPY Technicals: - Larger degree correction still leaves room for more down-side. - Ending Diagonal...
With volatility coming back and with the VIX seriously threatening with a "fear spike", I am now looking at Deutsche Bank DBK . It seems like it could fail, which would agree with the DAX wave count and the overall Market Crash pattern. Could this be the next Banking Crisis ?
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Complex Pattern is pointing towards a possible sell-off in a Minor Wave C (red), which could be quite big. If you like what you see and wish to communicate, please see more details in my signature.
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DXY has been rising a lot recently, as per the previously posted Part 1 of 8 - USD alias "Dollar Hulk" - Green Bull Rodeo article. It could be getting the hammer soon, as multiple signs are pointing towards a Bearish possible outcome: -Expanding Ending Diagonal within Minute V (green) -Contracting Ending Diagonal within Minuette (v) (black) -Bearish Divergence...