We have a very similar scenario here in collation to my last idea, but the background ist just not the same. We see a Bullish Gartley and a big Heikin Ashi (22.10.2015) breaking the resistance (@ 1.49150) and the 50 % Fibo of the last (little) Swing, like it was nothing . So im Sure there is much strength behind this move, because the MA 200 and the EMA 50 were...
My first idea didnt based on EW, but like so often in trading, i can see more and more. Just got started with reading books about EW and im very much impressed by this, so by people here using it and work very precise with it. I cant wait for next week to see what happens here. Nice Weekend guys.
T/P @ 1.5074 Entry @ 1.5269 S/L @ 1.5399 I think the Chart tells whats my idea here. ;) Have a nice weekend guys!
Im pointing for the 50% FIb again. We have a Breakout in the Downtrend Line for the first Time since Oct. 22. Lets see ive we can Hit this @ 1.3390 (TP1 in Chart). If that happens with much strength, i see potential to reach 1.3530 but like you see it on the Chart... CAUTION, cause at the end we are still in a working downtrend! After the Breakout we touched ~1.33...
This is do or die. Another Breakout @ 2.31800 Region after yesterday evening and a nice Risk/Reward Ratio. So worth a try for me, even if the daily view tells me this could end very fast.
Description on Chart! ... Even if we see a Bearish 5-0 Pattern here, there is enough Space to reach our target. Maybe its just one more Argument. ;) Thats what i love about trading, cause there are always many many points of view!
At first the MA200 and the EMA 50, then the strong resistance at 121.5 is finally broken after 2 close timed touches and successfully tested in a Bounce Back above. The Fibo is speaking a clear Language too. So the Price had enough Time (since late august) between ~121.5 and ~118.5 to collect some new Power for another long journey up. At least till the 1618 Line...