at the last resistance area. If resistance is shown and the 1.1618 retracement is not violated.
and another good shorting opportunity for those who did not catch my first SELL ZONE.
To trigger daily upward continuation. Potentially a very good RRR with a targets up to 1.16 area.
1.1 area fib correlation. Possible shorting opportunity if the SELL ZONE is hit.
Retracing to the 38,2 to test the break below the line and later continue down toward 127.2 Fib retracement to tests the break from the previous highs on the daily chart. Both of the zones should provide considerable resistance. Looking for a short term sell at "SELL ZONE". Looking for long term buy in case price reaches the "BUY ZONE" and shows the signs of struggle.
and the current behaviour of price action. Looking for a long term long around the buy zone.
Our thursday and friday expectations were spot on, but the current price action (strong action up) and the fact that the ultimate target for butterfly has not been hit indicates that EURUSD should hit the higher high before starting long term retracement on daily chart.
Looking for a buy possibly in a few hours time or if no significant movement, then possibly on Monday. Buy will be confirmed by lower time frame classical trend line break plus retracement.
Both of them end up taking out the current high before daily retracement begins.
Self explanatory. Simple major fib levels and parallel channel top coincide.
@ 1174 area. When we will start looking for another long.
Simple, yet powerful 5M channel + fib correlation
NZDUSD seems to love .618 retracements on the recent H1 history. Look for opportunity to short from the .7940 area.
If flag doesn't break sooner, we could have a nice H&S on Cable. This is my short term bearish, longer term bullish view.