FOREX PRO WEEKLY June 23-27, 2014
- Thread starter Sive Morten
- Start date
GOLD Big Picture
Few days ago I said if recent LL was low of wave b we would go muchmuch higer...and here is what could happen..
Only Monthly swings have labels, blue bF is not yet but could be soon!
Price could go up directly as blue impulsive wave shows or as T3 as black labels are showing...if this occure I expect blue option...
I am aware that most of elliottitians do not practice monthly swings but these are so obvious...
Few days ago I said if recent LL was low of wave b we would go muchmuch higer...and here is what could happen..
Only Monthly swings have labels, blue bF is not yet but could be soon!
Price could go up directly as blue impulsive wave shows or as T3 as black labels are showing...if this occure I expect blue option...
I am aware that most of elliottitians do not practice monthly swings but these are so obvious...
audusd update
I think it is not just 161,8 expansion which stopped move down but taking that low @0,93682 will change market flow to down side...I expect PA will handle this problem soon and I think extended 3rd to 262 exp will be in play...then retrace into 4th and last 5th has minimum target below 0,93208, projected is lower at 0,92881...somewhere there big 4th (pink) could nest low and then into 5th above 0,9460...as long as we are above 0,93682 we may go higher in ED shape...down would help all but yen to make corrections...
I think it is not just 161,8 expansion which stopped move down but taking that low @0,93682 will change market flow to down side...I expect PA will handle this problem soon and I think extended 3rd to 262 exp will be in play...then retrace into 4th and last 5th has minimum target below 0,93208, projected is lower at 0,92881...somewhere there big 4th (pink) could nest low and then into 5th above 0,9460...as long as we are above 0,93682 we may go higher in ED shape...down would help all but yen to make corrections...
gold update
going below 1306,32 will mean at least temporary high as c or 3 is in place but i expect not to...if I am wrong, 4th is hidden in this chart and would be in CT shape...bigger 4th could also be in place with daily swing low but swing high was topped yesterday so either more down or slow and sideways up will develop.......
going below 1306,32 will mean at least temporary high as c or 3 is in place but i expect not to...if I am wrong, 4th is hidden in this chart and would be in CT shape...bigger 4th could also be in place with daily swing low but swing high was topped yesterday so either more down or slow and sideways up will develop.......
cercamon
Private, 1st Class
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Update on USD/JPY
Hi Sive, a couple of weeks ago you mentioned the possibility of taking long position in USD/JPY pair. What's your updated view on it?
Price action just flows sideways within the strong support zone (101.75-102.04) from beginning last week, and recent news from Japan make me doubt whether the pair could retrace even further.
Thanks!!
Hi Sive, a couple of weeks ago you mentioned the possibility of taking long position in USD/JPY pair. What's your updated view on it?
Price action just flows sideways within the strong support zone (101.75-102.04) from beginning last week, and recent news from Japan make me doubt whether the pair could retrace even further.
Thanks!!
eurusd update
Sive, I agree with your analysis...
Some posts ago I gave an option of contracting triangle where price had to enter wave a @1,36472 but I do have some problems with reading this whole move up as ZZ family pattern...
but fact is that also T3 is possible just above y=x*...
Regardless, RR would be veryvery good...
Sive, I agree with your analysis...
Some posts ago I gave an option of contracting triangle where price had to enter wave a @1,36472 but I do have some problems with reading this whole move up as ZZ family pattern...
but fact is that also T3 is possible just above y=x*...
Regardless, RR would be veryvery good...
Sive Morten
Special Consultant to the FPA
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- 18,655
Hi Cercamon,
monthly setup has not been vanished yet and theoretically this is still possible. If you read our updates, couple days ago I've posted comments from traders concerning JPY. Yen is building an energy and accumulated a lot of stops around major levels. So, if any breakout will happen - it will be probably very strong and here a lot will depend on BoJ and its policy.
Hi Minimax,
this is interesting when you see similar thoughts but from another analysis style. Now we're approaching to culmination and let's see whether we will be spot on or not...
nzdusd
I gave up on my triangle option I posted 2 days ago, makes too much problems on Monthly!
Here we can see the importance of 0,87784 high..if not broken pullback follows, very probable below 0,86413 atm and in ZZ into 3rd (pink labeling (added:very probable should be a&b not w&x))...if broken we are already in 3rd and to the upside a tick above would be enough but I do not expect above 0,88415...
I gave up on my triangle option I posted 2 days ago, makes too much problems on Monthly!
Here we can see the importance of 0,87784 high..if not broken pullback follows, very probable below 0,86413 atm and in ZZ into 3rd (pink labeling (added:very probable should be a&b not w&x))...if broken we are already in 3rd and to the upside a tick above would be enough but I do not expect above 0,88415...
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