Bulls and Bears showdown at 1.29050?
Disclaimer:
I don't post a lot of charts (this is my 2nd idea).
I'm also hopeless at forecasting so please don't take this idea too seriously.
Also, I'm not an Elliott wave expert - just like the way it looks. :D
Thesis:
the 1.29050 level looks to me like a line in the sand.
Bulls have to protect this level to avoid the psychological effect
of price breaking back into the 1.28000 to 1.28999 range.
The importance of such a break is something that I have expressed
as an extended Elliott 5th wave going all the way down to 1.23750.
Invalidation:
a close above 1.312 invalidates the Elliott count and thus the thesis.
Risk:
I'm short from 1.311X with about 2% of my account.
Good luck and safe trading!
I don't post a lot of charts (this is my 2nd idea).
I'm also hopeless at forecasting so please don't take this idea too seriously.
Also, I'm not an Elliott wave expert - just like the way it looks. :D
Thesis:
the 1.29050 level looks to me like a line in the sand.
Bulls have to protect this level to avoid the psychological effect
of price breaking back into the 1.28000 to 1.28999 range.
The importance of such a break is something that I have expressed
as an extended Elliott 5th wave going all the way down to 1.23750.
Invalidation:
a close above 1.312 invalidates the Elliott count and thus the thesis.
Risk:
I'm short from 1.311X with about 2% of my account.
Good luck and safe trading!
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.