DUE TO THE LONG TERM BEARISH TREND THE PAIR IS FORMING COMPLEX PULL BACK ON THE WEEKLY CHART. WAVE "A" HAS BEEN FORMED. NOW WAVE "B" IS FINISHED BY THE FORMATION OF A FAKE BEARISH CANDLE. THE PREVIOUS WEEK CONFIRMED ITS FALSENESS. WHERE THE "C" WAVE WILL START TO UNFOLD TO THE LEVELS -0.23 & -0.38 LEVELS. ILL BUY AS THE MARKET OPENS LEAVING MY STOPS BELOW THE...
AFTER A STRONG UPWARD MOMENTUM, THE TREND CORRECTED IN A COMPLEX WAY "A", "B", "C". AFTER THE REVERSAL FROM "C"WAVE THE TREND FAILED TO EXCEED AND STAY ABOVE THE MIDPOINT OF "AB" WAVE. WHICH RESULTED IN A CHANGE OF A TREND TO THE DOWN SIDE.
IF YOU SWITCH TO THE MONTHLY CHART THERE IS A BEARISH ENGULFING PATTERN. I PULL FIB LEVELS TO FILTER IF THE MINOR TREND WILL CONFIRM THE DOWN TREND OR NOT.
AFTER WAVE "C"IS FORMED AND A BEARISH SIGNAL APPEARS ILL GO BEARISH. AFTER THAT AS PRICES UNFOLDS TO THE DOWN ILL WATCH THE MIDPOINT OF "AB" WAVE. IF THERE IS A REVERSAL, ILL CLOSE THE TRADE FOR A SMALL PROFIT...
The short term down trend resulted in a COMPLEX PULL BACK PATTERN(A,B,C) .After the completion of "C" wave , down trend was resumed until prices failed to go down at midpoint of "A" "B" wave. A reversal bullish candle formed which shows that the trend has changed from down to up trend. We will be watching the target at the coming levels of -0.618, -1, -1.618 levels.
WE ARE IN THE PHASE OF CORRECTION ON THIS PAIR. "A" & "B" ARE FORMED ALREADY. "C" WAVE IS STILL UNFOLDING TO ONE OF THE THE 3 LEVELS AS SHOWN ON THE CHART.
THE BEST WAY TO TRADE IT BY CHOOSING SMALLER TIME FRAMES TO SET LONG POSITIONS SINCE WE ALREADY KNOW THAT THE TREND WILL BE UP. WE JUST WATCH THE PRICES WHEN THEY APPROACH THE 3 LEVELS WE SAID BEFORE FOR TARGET.
The short term down trend resulted in a COMPLEX PULL BACK PATTERN(A,B,C) .After the completion of "C" wave , waiting for the prices to fail to go down at midpoint of "A" "B" wave. A reversal bullish candle should be formed which shows that the trend has changed from down to up trend. We will be watching the target at the coming levels of -0.618, -1, -1.618 levels.
The short term down trend resulted in a COMPLEX PULL BACK PATTERN(A,B,C) .After the completion of "C" wave , waiting for the prices to fail to go down at midpoint of "A" "B" wave. A reversal bullish candle should be formed which shows that the trend has changed from down to up trend. We will be watching the target at the coming levels of -0.618, -1, -1.618 levels.
WEAK PROJECTION OF A TREND RESULTED IN A COMPLEX PULL BACK, CONSISTING OF 3 WAVES 'A', 'B', 'C'. AFTER THE FORMATION OF 'C' WAVE THE TREND RESUMES TO THE UPWARD STATE AGAIN. TARGET WILL BE MIDWAY OF WAVE 'AB', SINCE THE TREND IS WEAK
The short term down trend resulted in a COMPLEX PULL BACK PATTERN(A,B,C) .After the completion of "C" wave , down trend was resumed until prices failed to go down at midpoint of "A" "B" wave. A reversal bullish candle formed which shows that the trend has changed from down to up trend. We will be watching the target at the coming levels of -0.618, -1, -1.618 levels.
The short term down trend resulted in a COMPLEX PULL BACK PATTERN(A,B,C) .After the completion of "C" wave , down trend was resumed until prices failed to go down at midpoint of "A" "B" wave. A reversal bullish candle formed which shows that the trend has changed from down to up trend. We will be watching the target at the coming levels of -0.618, -1, -1.618...
The short term down trend resulted in a COMPLEX PULL BACK PATTERN(A,B,C) .After the completion of "C" wave , down trend was resumed until prices failed to go down at midpoint of "A" "B" wave. A reversal bullish candle formed which shows that the trend has changed from down to up trend. We will be watching the target at the coming levels of -0.618, -1, -1.618...
