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Thillygoosth

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
Understanding GBP/USDI wanted to update and post charts today and do a video (maybe later), but my A/C broke and my office is upstairs in a sauna. But I just wanted to post GBP/USD if anyone is trading it and wondering what's going on with it. At this point, that is what we have. The .618 level is below it... (Gcad hit its .618, hopefully you caught that but don't just go entering a buy on that one right this second). GU may be in the process of producing an ending diagonal (as the dollar index seems it may be doing one), but the pattern GU actually created was a running triangle (see how 'E' broke?). I think GU will probably be a nice buy upcoming, then another sell, but I am not trying to swing it on a buy right now. I drew the pitchfork in attempt to show you the structure it is currently in. I put some trend fibs to point out equal length to 1.236 extension, but it will come down to how it moves from here before I enter a buy on it...
by thillygoosth
Eur/Aud sellOk, if you saw my Aud/Usd chart, and if you watched my live stream, then it makes sense for EA to be a sell. Seems to be swinging seven down. 1.236 extension lines up with 50%. I underlined your levels, so watch out for that first one because it can make another shoulder there, but totally worth getting to break even and at least letting it run to the 50% fib at that point. It is possible that EA is making a zig zag down In the larger scale which would be a huge sell. If aud/Usd reversed to at least retrace it's last wave, which is possible even though I am only anticipating a flat pattern to break the high at this time, then I would expect EA to be on its "C" leg on the weekly to break the low even, but it is probably a 50-60% "X" wave retrace right now. I explained this one pretty thoroughly in my live stream I just finished. Channel link below.
Short
by thillygoosth