TradingSutra

EURUSD: CASE OF ENDING DIAGONAL

Long
FX:EURUSD   Euro / U.S. Dollar
ENDING DIAGONAL : This is the most common diagonal that can be found out at the ending of a main trend or main correction. It consists of all the waves 1-2-3-4-5 in a single or multiple zigzags. They can be found placed at 5th wave of an impulse wave or can been seen as a wave ‘C’ of a corrective waves zigzags or flat. After the termination of the ending diagonal , a swift & a sharp reversal takes place which bring the prices back to the level from where the diagonal began.


TRADING STRATEGY: One should go long on the current levels or any dip , keeping a stop loss of 1.15360 look for the target of 1.16400 & above.
Manish Bhardwaj
Analyst & Co-Founder
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