In the FOREX page you can see the long-term scenario on weekly charts
and the previous short-term outlook on daily charts and on 4 hours charts.
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USD/JPY
Main count: what's incredible impulsive wave!
Bullish: we are in wave [iii] of 3 minute of 5 minor of (3) intermediate of [1] Primary; target 105.60.
EUR/JPY
See the 240 minutes chart; there is a good buy point last Thursday May 9 on the breakout of the flat of wave 2 of 5 of (1) (or in alternate scenario, of the triangle Alt:4 of 5 ); target 139.
GBP/USD
Very interesting setup.
After the rebound of wave 2 minor , we should be in the impulsive wave 3 of (1) of [C] .
EUR/GBP
The alternate scenario prevails; it's likely the completion of the corrective downward wave c/y of (b)/(x); this currency pair is looking for a support on the 50% Fibonacci's retracement; if it will be broken down, drop at least until 0.828.
EUR/USD
Contrasted and unclear trend, with no interesting setup.
It's likely the completion of downward wave y of b/x .
AUD/USD
My main bullish scenario is been denied, the triangular wave [4] is not yet completed.
The down move of the last week gives preference to alternate bearish count, that considers wave 3 of c of (e) in progress.
ElwaveSurfer
I'm Eddy from Indonesia, beginner in technical analysis. Your posting really helpful. Thx
ReplyDeleteHi Eddy,
ReplyDeleteI'm glad that this post was useful.
If you're at the beginning, a little advice: take the time to study and understand the markets, start to invest a little money, and always uses the stop loss!
Best wishes for your trading ;-)
Once we make profits, it is time to protect them. Money management is about the minimization of losses, and maximization of profits. To ensure that you don’t gamble away your hard-earned profits, to “cut your losses short, and let profits ride”, you should keep the bible of money management as the centerpiece of your trading library at all times.
ReplyDeleteOn Aus$, triangle scenario is no more valid. Either we are in flat correction, or complex correction of wave W-X-Y, where we might be in wave 3 of C of Y.
ReplyDeleteBTW, I like your view, Gr8 Work. Keep it up.
It is often tough trading on this pair due to the unpredictable movement, but one got to be very careful and determined to get it work. I enjoy it a lot though TradeWiseFX since they have fabulous service with zero spreads, deposit bonus up to 50% and a lot more which helps me in working.
ReplyDelete