Another leg to the downside before a pullback??? Well I think so...what do you think?
I think we might have at least a temporary top in place... I see further downside down to FIB support zone around 14200
Nice 5 waves pattern on the e-mini...we want to see a pullback in 3 waves approaching FIB zone between 4020 and 4000 levels in order to consider a LONG position.
If we are going to see a pullback in 3 waves without without getting into a new low, we could see a sharp rise....let's see if market confirm our idea
I am waiting for a clear 3 waves pullback in order to consider a nice bullish setup
We don't have confirmation that a temporary top is in place but watch out for a move back below wave 4...if that move occurs in 3waves we could have a very nice bullish setup...stay tuned
On Friday 24th, we had big volume that came in at the low of the day, that could suggest a bottom of wave 4 and anticipating another leg to the upside.
Watch out for the break of the neckline, it could lead to a nice bearish setup.
I am watching this pattern in XAUUSD very closely...if we can get 5 waves to the downside,then a 3 waves pullback could offer a nice SHORT opportunity if we remain below the TOP at 1960
Is there a top on STOXX??? The pattern looks good BUT we need the market to commit to us before we commit to the market...confirmation if we trade below 4124
We had very nice move to the upside this morning, but be aware of that, if wave 4 in circle is really a TRIANGLE, after wave 5 will be done, we are going to retrace back to at least wave 4 of a larger degree.
Do you recognize a pattern??? I am wondering what the market is going to do tomorrow morning.....
As traders, we must pay close attention to what the market is trying to tell us no matter what we think about it. At the moment, we have been moving sideways for the last two weeks and that it could be indicative of a TRIANGLE in wave 4 of a major degree anticipating more upside to come later on this week... so as long as we stay above 14904, this one is still a...
The correlation between DAX and BUND suggests that, if we really have an H&S going on with BUND, then DAX is lagging and it should start to come down soon which is in line with our wave count.
I think we are facing a major and critical juncture on both ES and NQ but there might be a short term opportunity in both.
Price action looks stil in a corrective mode, so as long as we stay below 15269, I am looking for another leg to the downside into FIB ZONE AREA around 14725
Dollar Index could see a temporary bottom to complete what we consider a wave A of a larger degree, we could first take out STOPs at 101.289 and then see a bounce in 3 waves to complete wave B of a larger degree
Very nice pattern on AUDNZD, we are keeping an eye on FIb zone 1.0704-1.0649 for a possible LONG position