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IDC

Independence Contracting Drilling in Impulse. IDC A nice impulse in not even near completion here. We are looking to project a Wave 5 here in the third degree, so that potentially leaves quite a bit more profit taking in the future. Although overall view is a bullish one here, the most immediate Wave 4 is not yet complete, thus a likely further downturn can be expected before more breaking to higher highs. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
ILong
by Rykin_Capital
EUR/USD at 1.19 Ready to Test Structure Support Level at 1.17Description: As the Euro / U.S. Dollar fails multiple times to successfully reach for 1.20 in the last and current week, a 4-hourly moderately down-sloping trend line forms, projecting that if price action continues below it and is unable to break it, then by Jul 14 at most price will have been pushed all the way down to the next daily structure support level at 1.17, accounting for a retreat on the Euro back to Apr 1. By then, it is expected that buying pressure comes along and pushes price up enough to make figure failure above 1.16, but if price consolidates at 1.16, then further selling pressure can be expected down to 2020 mid-Covid levels (below 1.14). Current reset price figure level: 1.19000 (Short) Current support price figure level: 1.18000 (Retreating) Current resistance price figure level: 1.20000 (Advancing) Projected reset price figure level: 1.17000 (Long) Projected support price figure level: 1.16000 (Advance) Projected resistance price figure level: 18000 (Retreat)
Short
by acsedward