EUR/USD - Time to take a look at the long term preferred count. We are currently building the e-leg of a major B-wave Triangle. I'm looking for this wave e to make it to at least 1.3491 (50% Fibo retracement of wave d) and maybe even to the 61.8% Fibo retracement target at 1.3832 before the B-wave Triangle is finally over and wave C down takes over.
EUR/JPY - If we close above 104.58 this month, we have the first long term clue, that we have started the next major impulsive rally higher. The first target for this new impulsive rally will be at the b-wave high at 138.72, but longer term we houls see a break above 169.43 towards equality at 174.50. You will not want to mis out on this rally.
EUR/NZD - Here to we are just about to get the first major signal, that a new long term impulsive rally is under way. The first major target for this rally is at 1.6966. However, longer term we should make it even higher towards 1.9571 if not all the way to the falling channel resistance line near 2.5000.
Facebook - Has now made a new high confirming the impulsive rally I have expected since the 17.55 low. Yes the wave ii decline was very deep, but it did not break below important support at 18.80, which was the invalidation point for my preferred count. I'm still looking for a continuation higher towards 28.70 and long term 33.45, what happens here will determine whether the correction from 45.00 will be a complex corretion or whether the next impulsive rally above 45 is under way.
Hi Thanks for all your posts.
ReplyDeleteIs it now unlikely that price pulls back below $24.25 (Top of wave 1). In otherwords, would there be any kind of invalidation if there is a pullback filling the hourly gap between $24 and $24.81? I am asking because I would like to buy FB, but I don't think I will be able to get a pullback from here and I am considering buying a small position right here right now