News today tries to explain the sell off today as fears for new rate hike. If you look at PA it is no surprise and all is expected, we have a lower TL with many touches that you bring up to highs.. look how midline fits. So we have an OVERSHOOT, which will expect a BREAK out of TL to upside. within the uptrend we have the close outside and new high; so - yes,...
EURCHF has completed a possible ending diagonal and has made a reversal in a confluent PRZ. Wolfe Wave theory defines the sweet zone, or the area of a probable reversal, as the area between 1-3 and the 2-4 parallel extension from point 3. Similarly, EW theory suggests that wave 5 will often overshoot in an ending diagonal which may be followed by a swift and...
AUDUSD has created a well defined Inverted Head & Shoulder pattern, looking for target at 0.7750 A longer term bearish channel with an overshoot at the lows supported this view to break the bear channel at the highs before trying to visit the low of the channel again