Review for the 18-th of January 2007
Details of the day
Start of a corrective action on h1?
Axel
Eur/usd usd/jpy gbp/usd usd/chf
3- res 0.6606 158.20 1.6198 0.7933
2- res 0.6593 158.06 1.6175 0.7897
1- res 0.6578 157.50 1.6162 0.7887
Pivot* 0.6570 156.85 1.6147 0.7878
1-sup 0.6562 157.11 1.6124 0.7860
2-sup 0.6550 156.80 1.6100 0.7845
3-sup 0.6538 156.35 1.6060 0.7831
Europe
1. break of a flat res
2. targets of bullish trend of GBP
published at 5:36 GMT
Res mt4
1.9753 = 262% from the 1-st wave on h4 + 162% from evening recoil on m15 1.9674-1.9723
1.9779 = 162% from yesterday's recoil on h1 1.9588-1.9697
3. fulfillment of targets - 162% from yesterday's recoil on h1 1.9588-1.9697, that hasn't become the 1-st corrective wave A
America
Preparing to
* the min target 162% is done
* a wave downwards = 38% from h1 (1.9705)
* look at up movement (not puncture of the max) = wave B
* puncture of the min = ©
* news
13:30 USA - Building Permits Dec 1.513 mln. 1.510 mln.
13:30 USA - Housing Starts Dec 1.588 mln. 1.575 mln.
13:30 USA - CPI ex food & energy Dec 0.0% +0.2%
13:30 USA - Consumer Price Index Dec 0.0% +0.4%
13:30 USA - Jobless Claims week till 13 Jan -26 th. till 299 th.
Before news
Its's needed movement upwards to understand WHERE zigzag at least on m5 will be, then
a) upwards - ZIFRAS on m5 upwards = the down movement has finished = American session is upwards (look for targets, puncture or not puncture of the max on h4).
1.2915 = 76% from h1 (= 2-d wave + POWERFUL break through local max on h1 = 3-d wave on h1)
b) downwards = puncture of the min with calculation of next targets below from the last recoil on m5, puncture of support = 1.9676 - 200% = local min from the puncture of sup on m5... will add a new grid of the new zigzag)
In the best case it will be just the 1-st (A) bearish wave on h1 (А). When it's finished we'll find targets below not only on m5 but on h1 as well
at the end
there is a zigzag downwards on m5 = miniflat
* 1.9690-1.9736
* 1.2932-60
