Euro / U.S. DollarUpdated wave 3 completing
Looks like wave 3 will complete at this level. expecting wave 4 pull back then will watch for wave 5 to complete and take short position as shown in chart. Will update if trade plays out and I take position.
Note
Price in the zone that I was looking to sell but I didn't get a wave 4 pull back and wave has continued to extend. This leads me to think the channel is broken or not valid for short. We would need to see strong selling now rejecting this area then also a truncated wave 5 to set up a short.
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Disclaimer
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.