shibumigo

shibumigo

SAXO:XAGUSD has completed 9-day cycle yesterday by making a short term low, and currently is above the declining 45 degree trend which is crossing from ~26.2 as of today. A short-term long position is possible with 2:1 R/R from here, with few points of stop/loss of the yesterday's low (25.77) and targeting initially the arc and declining 22.5 degree trend line....

shibumigo

It seems like the (B) wave in the recent correction is completed at 1445.13 on April 6th, and it resumes its move to downwards to complete (C) wave. Based on A=C rule, the (C) wave might be expected to end at 1111.98 level, which also coincides with the starting level of the previous rally, which means a double bottom. From 1111.98, it might be expected to have at...