There’s a line the trade should not cross
I have reworked my EW count in the Yen to be that of a triangle wave [iv] that needs one more wave up in (e) to complete. The alternate is that wave [iv] was set early this year and prices are set to bounce in wave (ii) of an ending diagonal [v].
Dollar chart says manage your positions
with a focus on entry areas
I’ve been asked to look at Brazilian equities and will do so over the weekend, but thought some of you may find this interesting to tide you over till then. I had been working on this since it has been in the news. The Brazilian Real has been bouncing today off of support today. I don’t know if the bounce will end up being a wave (ii) or (iv) as I can argue for either but certainly think it isn’t something to short until up against 0.2775.
We show where to look for the trades
Primary view is that GBP futures are in the first stages of a move that should test or exceed the 2017 low. A monthly chart for perspective is below.
It appears to be breaking beneath support
Bullish scenario is kicking in
Two ways a decline might play out