NU is approaching supports that could end this retrace. We had a classic EW Impulsive Wave (12345) appreciation. Now in the requisite "Correcitve" Wave (ABC) retracement.
It is POSSIBLE that the retracement is complete, but not likely. Look for VALIDATION of further downside upon break of support. Best to CLOSE shorts if price bounces past immediate resistance.
Of course, I have had total FAILS on some plots also, not going to pretend. But my plans offer PRECISE entries, TIGHT stops, and EXACT take profits. Precision is the way of the Fib. Almost every turn happens at a Fib Line.
ความคิดเห็น
First target reached, EXACTLY
Zoomed in, we see a reaction at each of the three fib lines within this zone But none of the three lines have offered much real energy. So I think we go lower yet.
.
ความคิดเห็น
News about the US China trade war hit the stands and dollar took a dip accross the board, just in time to amplifier this NU support's ability to bounce it Now to see if the "news" gets walked back like it so often does.
ความคิดเห็น
Came all the way back to last support
Zoomed in to observe the EXACT reaction to top bound of that zone
and the Top boundary of that zone is the green 2.236. So that implies two things: 1) Pay attention to all other lines in that fib, and 2) That fib is pushing upwards, so that might help reverse it to go back up, or at least slow the drop.
ความคิดเห็น
Update on that zone from above: It has now "stitched" that zone with a ping on both bounaries from the inside So now a retrace to the top boundary and clean bounce would a good long entry
.
ความคิดเห็น
And there she goes, as mentioned just above retest the top boundary, got an exact Ping, and off it goes. Of course it could collapse at any moment, but the long is not wtih SL at BE. If bounce sustains, i will start looking for safe harbors to park the SL with partial profits locked in.
,.
ความคิดเห็น
Gettting back to bigger picture, we can assume the ABC correction is done So now my
ความคิดเห็น
More consolidation today, but also more CONFIRMATION of the zones plotted
Zoomed in to show the "Confirmation" of these zones
Zoomed in even more, and a fib on the bounce looks like a clean 12345 Impulsive wave up, and perhaps an ABC in progress. Shown are two possibilities for the ABC to come. IF correction is done, then this could be a wave (i) and (ii) with (iii) to come. IF it shapes up as such, then this next leg up should be STRONG and FAST, but it is a Friday now, so might wait till next week.
.
ความคิดเห็น
So much for the rocket launch above :( We have just hit the next supporrt below original target