FCPO: Hourly EW Count - Jul 5th 2018 (Possible Entries)
I have laid out 2 possible movements for today as depicted in the chart. The downwards EW count is merely a projection and will be updated accordingly from time to time as the market gradually unfolds.
Entries
Short #1: 2297 - 2305 (Stoploss around 2310)
Short #2: 2320 - 2329 (Stoploss around 2335)
Alternate count (major upwards movement) can be technically ruled out. By ruling out the alternate count, wave 5 is anticipated and it can go all the way down to 2100 level. If you have short position, hold it with a stoploss at around 2349.
Long #1: 2270 - 2279 (Stoploss around 2267)
Long position is expected to be a minor retracement with the upper limit is bound by the channel (dashed) and S&D area (2297 - 2305).
Entries
Short #1: 2297 - 2305 (Stoploss around 2310)
Short #2: 2320 - 2329 (Stoploss around 2335)
Alternate count (major upwards movement) can be technically ruled out. By ruling out the alternate count, wave 5 is anticipated and it can go all the way down to 2100 level. If you have short position, hold it with a stoploss at around 2349.
Long #1: 2270 - 2279 (Stoploss around 2267)
Long position is expected to be a minor retracement with the upper limit is bound by the channel (dashed) and S&D area (2297 - 2305).