EuroMotif

EuroMotif Mod Updated 

This is a followup to my bottom call on October 30th: Then came the mid-term election which may have caused the dip in first place (uncertainty). Wall Street was apparently quite happy with the election results. Although my guess is that money was waiting on the sidelines, looking to scoop up stocks based on the election. Now the Index price is at recent high,...

EuroMotif Mod Updated 

Nice volatility this week: US midterm elections yesterday and FOMC today. The FOMC event should NOT be much a market mover, no change expected. The election result of Democrats winning control of the House will have longer term implications. Technically speaking: The move down looks like a wave 3 may have completed. Looking for a wave 4 up into London Open, then...

EuroMotif Mod Updated 

AU had a strong push on Friday, thanks go general Dollar weakness. I think the last leg up should have finished sooner except for the below. There was some mixed news regarding a Trump-Xi deal. First it was leaked that Trump actually asked his cabinet to draft an agreement. Then the White House downplayed that scenario, as if not much had changed. But in general...

EuroMotif Mod

Looks a 12345 impulse was completed and ABC correction might be under way. If so, I see three possible ending points for wave C. The Green path would be most bullish, yellow less so, and the red a bit concerning. The last push up and subsequent quick drop was based on Trump/China news. First it was reported that they had moved a lot closer to striking a deal,...

EuroMotif Mod Updated 

Remarkable climb by the Pound recently. Brexit news has been somewhat positive lately, and the market likes it a lot! So much so that even bad economic reports are not causing any dips, smells like euphoria. Bullish momentum seems strong, but in about to run into resistance zones. The red zones are shorting opportunities I will be watching. The green zones are...

EuroMotif Mod Updated 

EU had a strong bounce on Friday, based mostly on Dollar weakness. Such a strong move I think will have some after effects. Am expecting an ABC retrace to climb to one of the two red zones for end of C. Wave B may have completed on Friday, or it might take a small dip on market open. Lets see how this plays out. Background: My EU shorting adventure began in...

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,...