EuroMotif

EuroMotif Mod Updated 

There were two pieces of news reporting that top US and Chinese officials will meet this week to negotiate. The initial news release caused a spike in AU and a rise in stocks. I expect this to continue for rest of week, unless the news is debunked. As well, AU has made pretty good retrace so it might time for a bounce. So I have plotted two possible pathways up...

EuroMotif Mod Updated 

I am an EU bear, rode it down all this way. So I am not longing, but If I were a bull, this would be THE first scalp to consider. This COULD be the start of a serious retrace, if there is good news out of Italy. At the least, all of the fibs indicate the end of multiple waves, each of will need to retrace to some extent. Kudos to anyone who has gone long.

EuroMotif Mod Updated 

AU looks to have completed a 5 wave impulse move up and ready for correction. The Red zones are possible short entry opps, where I will be looking for a reversal pattern. The Green zones are possible take profit areas, where I will be closing most of position and letting some ride to next possible support. Background: I am a longer term AUD bear, anticipating a...

EuroMotif Mod

GU opened with week with a large gap thanks to Brexit news. It tried to fill it but only got to the 38.2% of it, then fell away hard. But it looks to have hit a bottom for now, and should retrace some extent. I am a USD bull and GU bear, so I am not longing, but if I were a bull, this would be THE place to start building a long position. This long idea is a...

EuroMotif Mod Updated 

GU gapped down to open the week, based on Brexit news. Watching the gap-fill attempt to enter short soon. Background : I am a Dollar Bull and Pound Bear, and will remain so until BOE starts talking about rate hikes or PM May starts presenting a positive and plausible Brexit scenario. My GU adventure started with a search for top of uptrend around Sept 20th...

EuroMotif Mod Updated 

As any BCH trader knows, we have the ''fork'' coming in a few days. There was an initial rally, and then some in-fighting in the BCH camp caused a dip. Evaluating that dip, I think we have one more small leg down before the climb.

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...