If GU drops below 1.3370 (the bottom of the channel's TL), we will have a bearish flag formation in play with the target @1.3306.

Coreg's EW+HP+D/W Range

30M chart, setups valid for today only.

Coreg's EW+HP+D/W Range

fex., EW principles work for me. Some people are scared of it b/c they think there is too much room for alternative count. For me, it's the same as trading other chart patterns. There is always a chance that the pattern will fail, not reach the ...

Coreg's EW+HP+D/W Range

Don't ignore this potential scenario if a bearish bat pattern plays out.

Coreg's EW+HP+D/W Range

There is still room to go up this week. Chart fixed.

Coreg's EW+HP+D/W Range

The end of the potential wave 5 was reached.

Coreg's EW+HP+D/W Range

fex., I would call it educated guesstimation...The weekly high, the most liquid spot for swing and daytraders, was surrendered by 120%ATR and R2. Logical target to go after the breakout of the channel. The flag formation is a continuation pattern. ...

Coreg's EW+HP+D/W Range

...and the winner is fex.

Coreg's EW+HP+D/W Range

Quiz: Which ATR(14) level will be touched after the rate decision?

Coreg's EW+HP+D/W Range

Potential end of wave 5 if the upper channel's TL is broken. image image

Coreg's EW+HP+D/W Range

fex., very nice. image image

Coreg's EW+HP+D/W Range

If GU leaves-channel- flag formation on the 4H chart, the downside most likely should be negated.

Coreg's EW+HP+D/W Range

updated NY Open.

Coreg's EW+HP+D/W Range

For today, only the 30M chart. I have a problem saving the chart directly. I have to use the snipping tool. image I spent a day and couldn't fix it. Investing.com works OK. image

Coreg's EW+HP+D/W Range

4H chart with a longer view. The first resistance zone is between 1.3327 and 1.3338. Timing for retracement has not been reached yet.Don't forget, today is a fun day.

Coreg's EW+HP+D/W Range

Exhaustion zone for today reached.

Coreg's EW+HP+D/W Range

Sticking to the sell side for now until proven otherwise.

Coreg's EW+HP+D/W Range

The swing (iv)-(v) should have 5 fractals (on 30M TF, we can detect them), so min expected drop should be 38.2-50% retracement. image image

Coreg's EW+HP+D/W Range

msqk, yeah, the level hit, but what a terrible way to reach it. Back and forth, back and forth. 1.3339 I think is the key. Still, completion of AB=CD @1.3297 is in play, b/c the retracement after Thursday's high is at a premium.

Coreg's EW+HP+D/W Range

9H ego, we got news about the expected rate hike...and what happened? Follow the chart, always.

Coreg's EW+HP+D/W Range