EU came off the 1.618 fib extension of its wxy pattern and I am in the buy from the tip. With this pattern as a correction, that is far as it should go. Considering it extended this far it can be in a downtrend, but I am expecting it to correct up from here. See orange fib levels for targets. It is possible that we just get a wave 4 retrace 23-38%, but it could go up much, much higher. So I will hold my buy stop in profit and see what it does. Similar pattern somewhat mirroring the dollar index. So I consider it to be in a buy and will continue to do so until something changes. It is possible that EU even extends up to break the high, but we will just have to continue trading the setups. Don't just buy it, you need corrections because it can always come back down to break the low, but if it did, I would most likely just buy it again depending on when and how. We should at least get more retrace than this. If I get a corrective flag on daily, I will sell, but until then I will keep looking to buy. NU also hit the 1.618 lined up with the 786 fib level from major high to low. In that as well. I apologize for not posting much lately been busy. I posted some stuff, but when I look none of my really good trades got posted so I feel bad. I will try to post more this week, but expect it to be more midweek.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.