ridethepig | Getting our bearings
Here the bear is condemned to die for the common good, as a diversionary sacrifice. The only question markets are asking is a matter of "when" rather than "if" ... Since the Weekly chart we dissected in September, it would be helpful to start by reviewing the advance:
The correct march forward for bulls here over the flank, so 1.197x and 1.125x resistance will be key to track. On the other side, 1.093x and 1.087x will need to be taken in order to demand reassessment of the core bullish view I have constructed over the past three months.
I call this excessive generosity! All dips have been bough and those following are locked in with:
(i)
(ii)
After this march towards the border, remember to create an appetite, the bull must start the day with a hearty breakfast of the late and weak sellers going overboard on the Macro side:
We are sitting at the loading zone for year-end, for the flows and target-wise I am aiming for 1.16xx in Q420 and beyond 1.20xx into 2021. Invalidation for the trade will come in below the key support below and reassessment of the bullish view will only be necessary if we break through the gap from 2017 French Elections (both are highly unlikely to test now as USD devaluation has already begun via repo crisis).
On the USD side, here we are tracking the Monthly chart in Dollar from an Elliot Wave perspective; after 15 years of the previous bullish USD cycle we are reaching the end of the road with the USD devaluation acting as the global reflationary valve:
Good luck to those trading EURUSD in 2020 and already in longs or for those waiting patiently on the sidelines for the breakout to form.
As usual thanks so much for keeping your support coming with likes and jumping into the comments!
The correct march forward for bulls here over the flank, so 1.197x and 1.125x resistance will be key to track. On the other side, 1.093x and 1.087x will need to be taken in order to demand reassessment of the core bullish view I have constructed over the past three months.
I call this excessive generosity! All dips have been bough and those following are locked in with:
(i)
(ii)
After this march towards the border, remember to create an appetite, the bull must start the day with a hearty breakfast of the late and weak sellers going overboard on the Macro side:
We are sitting at the loading zone for year-end, for the flows and target-wise I am aiming for 1.16xx in Q420 and beyond 1.20xx into 2021. Invalidation for the trade will come in below the key support below and reassessment of the bullish view will only be necessary if we break through the gap from 2017 French Elections (both are highly unlikely to test now as USD devaluation has already begun via repo crisis).
On the USD side, here we are tracking the Monthly chart in Dollar from an Elliot Wave perspective; after 15 years of the previous bullish USD cycle we are reaching the end of the road with the USD devaluation acting as the global reflationary valve:
Good luck to those trading EURUSD in 2020 and already in longs or for those waiting patiently on the sidelines for the breakout to form.
As usual thanks so much for keeping your support coming with likes and jumping into the comments!
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