Excellent analysis as always sir! I do believe that there will be a great deal of downward pressure on prices this week up to the final rate hike decision. I'm looking for 31.7-32.2 level. Just low enough to squeeze those looking for long positions and low enough to intimidate the bearish crowd. Following this week, I believe a process takes place to create stronger resistance at the 38 level and we see low 20's within 6 months. Good trading to you!
Hi Eric! thanks for your comment, you know that is very appreciated.... :) So I agree with you, but the "call" 127/162, has already been processed, so you can expect a rebound from this area. That said, we have no crystal ball, but we have a much more powerful: the stop-loss .:) :) In the chart, we have preferred clear that it is a "setup speculative", so with reduced size. Eric, thank you again for your post!
I totally agree with the bullishness of this pair, but I do not understand your AB=CD chart, it doesn't actually look like AB leg is at least equal CD leg,,. However, on 4H TF, there is a perfect Three drives pattern that was triggered at a major structure level and around round number 35. For me that was the trigger to enter long on this one.