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Remymartin

GBP/NZDGN is at overlapping trend fibs, pitchfork, and at a spot in the pattern where it could make a "C" wave to break the trend line. It is over extended and showing divergence on all time frames, on TDI and bollinger bands except for the monthly. It is possible that it did complete a contracted flat pattern and is on its way up considering how this wave looks though. But considering where the trend line is, I think there may be a very nice sell coming. It could even extend up to that larger 1.236 and still come back down, but it may be ready now. Good risk to reward. It is extended way out of the bollinger bands on weekly, with a candle extending above the 200MA. Just keep in mind Gbp/Nzd is an unruly beast. LOL.
Short
by thillygoosth
USD/JPY update- 2 scenarios.If you took the UJ sell you may to to secure some profits soon, refer to first post, but if you let some run you might get lucky. See? If that's a running flat then.... we may wind up having an expanded flat in the middle. Considering where it was at in the pattern (2 major possibilities) you would expect it to at least correct here, to collect orders and it did. So I think we either get a small flat correction here and continuation up, or it just completed a running flat and is going down. If UJ were to go on a downtrend to break the low, that would mean it is making a triple combo and it will then be a massive buy and I see that scenario unlikely. So watch out for the small flat-Refer to my other markup, but keep in mind what's possible. Now I can leave.
by thillygoosth
Eur/Aud updatesorry guys but I had a small heat stroke yesterday afternoon and have been recovering. Plus I have not been trading london lately which would be very helpful to everyone if I was. I feel awful but saw some questions. I just knew EA was at a spot it would reject, with the possibility of much larger downside, and it did reject it. It came up to break the high. I can't explain the wave pattern/larger wave pattern and possibilities here (not because I don't want to, just not possible). I was looking for structure (ending diagonal/running flat) with the possibility of a much deeper retracement. Either is possible in this situation. If it continues down from this level and breaks channel, let some run to the larger 50-62% area I have shown. But at this point you should have taken some profit off it and if anything is left on it should be risk free. It can be in a running flat to extend up more. Equal length for a W-X-Y even takes it up to break major high, although the daily and 4 hr do look like it might sell. It's just at a crucial spot for the larger corrective pattern. I haven't had a chance to look back over everything. Too sick. Massive headache.
by thillygoosth
1
EUR/GBPEG is approaching the .618 level (which would break high if it did). But you can see the pitchfork and all the intersecting trend lines of structure. It is potentially a very large sell down. Looking at the one hour, the wave it is on is coming off the 1.618 extension in an impulse, so i would expect some consolidation and another little push. So, basically, i would like to see a reversal pattern on 1 hr before i considered any short. gbp/usd was at trend line approaching .618 level also. gbp/cad is at the .618. Obviously pound is in a strong down trend, but looks like we might be getting at least a retracement soon. but be careful...
by thillygoosth