EuroMotif

EuroMotif Mod Updated 

Just a quick plot to see how it plays out. Expecting micro wave 4 to end soon and wave 5 to get us to Resistance zone. We might get a more serious correction at that time. This is a follow up to my bounce plan

EuroMotif Mod Updated 

AU had a tremendous move on Thursday, helped by Dollar weakness across the board. That move was a picture prefect EW ''Wave 3'' where it is nearly vertical, and with very few pullbacks. So now I am expecting a wave 4 retrace, and the two green zones are of primary interest to me. Friday is NFP report in USA, so there will be spikes in both direction on all USD...

EuroMotif Mod Updated 

Quick update on Nikkei bounce. Expecting a wave 4 dip to continue before a final leg up. After the 5 waves are complete, we should see a larger correction. Lets see how it plays out. Above is an update to my last plan for market recovery (at least temporary)

EuroMotif Mod

Gold bounced quite strongly, helped by Dollar weakness across the board. Given such a strong bounce, I think it might have a little more room to the upside before plunging. It is possible it has peaked already, but I would like to see it finish a well defined ABC move up, for a wave 4. Of note: NFP release on Friday, which might have a dramatic effect on all...

EuroMotif Mod Updated 

Quick scalp opportunity, but will need to watch closely. Just a Weekly Pivot play, looking to hit it, then hug it, then a reversal pattern just below. Reversal patterns like micro Head-n-Shoulders, Bearish Engulfing 15 min candle, etc. Strong break and hold above the Pivot completely invalidates shorting possibility This is a follow up to my ''Big Short'' which...

EuroMotif Mod Updated 

Last Friday was quite volatile, mostly due to Dollar weakness. EU bounced but I think it was mostly due to weak USD and not strong EUR, since almost all currencies bounced again the Dollar. To start this week, I am expecting a dip and then another bounce to finish the upwards momentum. I have two possible retrace points (B) and two possible bounce targets...

EuroMotif Mod Updated 

UJ looks due for a pullback. This is just a quick plot to watch the action. I am expecting it will be a ''minor'' pullback because I think risk sentiment is biased long for now. Thus I have been long for a couple of days, based on this plan :https://www.tradingview.com/chart/USDJPY/YYXTGOkC-USDJPY-long-idea-UJ-correction-done/ But as seen in above plan, it has...

EuroMotif Mod Updated 

Current price is approaching a critical support zone. There is an exact confluence of two 2.618 Fib extensions. The Red is the downward wave, and the Blue is short term upward wave. Where two such important and opposite ripples meet, there is often a battle. Lets see how this plays out. Background: I am currently short, based on this plan I am of the opinion...

EuroMotif Mod Updated 

I am thinking the correction is either 'done' or is due for at least a strong leg back up. The perfect sign of a bottom would be a well formed impulse wave (12345) off the bottom I drew the two mostly likely paths for such an impulse wave, and will gauge further as price moves. Monday looked like possible ''capitulation'' at the bottom with a strong bounce. There...

EuroMotif Mod

GU is at a critical support right now. As you know, it is at a double bottom on H4 (shown on chart below). It has just hit a 2.618 fib extension (Blue) of last leg down, right around 1.2700 if that breaks, then the natural progression of this last leg will be to the 4.236 (blue) fib extension. Around there are several other very important fibs, which will act as...

EuroMotif Mod Updated 

It is possible that the Yen and Stock market correction is done! The impulse wave (12345) drawn would be the ideal sign of trend change. Of course, it is also possible that we are bouncing in a bigger correction to play out. But there are plenty of signs that we have bottomed, at least for a this leg. Lets see how it plays out. I am long a tiny amount now, will...

EuroMotif Mod Updated 

Quick plot to show possible re-entry zones for AU long. This is a followup to my previous trade plan to go long The original targets in above plan were very close to hit, but the pullback caught my Trailing Stops. Now looking for possible re-entry because I think there is still some room to the upside now. Background : I am actually a longer term AUD bear,...

EuroMotif Mod Updated 

More Brexit news about infighting in PM May's cabinet caused a sudden spike down. The spike stopped at massive support, but did not bounce much. Once that support breaks, it should be a quick trip below. I do expect some kind of bounce for the wave (4) before continuation down. OR, the Brexit news could have been wrong, or may get overridden by positive...

EuroMotif Mod Updated 

It is possible that the correction is done. Above is a 15 min chart, which is part of this bigger picture on 1 hour: And even bigger picture on the daily I was more pessimistic until today, per my previous plans. It is still possible that we are in the process of a larger correction. But at least in the short term, there are plenty of signs for significant...

EuroMotif Mod

This is a followup to my last plan looking for bounce zones. Since then, the moves have painted a slightly different picture in terms support zones and EW. I think we might have one more small leg down coming (wave 5) to the next support zone below (.7238). It is also possible that wave B completed at the first support zone (.7250) and could turn up. If small...

EuroMotif Mod Updated 

AU got a nice bounce on Friday, even though it was mostly due to Dollar weakness. Nonetheless, the significant bounce should have at least an overshoot, if not something substantial. I am looking for a ABC move, or like an AB = CD type of move, where the AB leg is almost duplicated by the BC leg. The final Target will depend on how deep the B wave...

EuroMotif Mod Updated 

Quick plot based on Fibs and Elliot Waves. I am anticipating a bounce going into the weekend. But I do think there will be at least one more leg down. Some important zones are marked. I would not be surprised to see it hit 2500. Any lower than 2500 and the markets will be in trouble.

EuroMotif Mod Updated 

This is a follow up to my previous plan: In the plane above, I was looking for an ABCDE structure to wave V. But looks like the more common 12345 structure is unfolding. CAREFUL with any Euro trades right now. ECB rate decision is less that 24 hours away. But am posting this just to observe movement until then.