Long and then Short
Updated
My previous count was that a trend change had occurred but I think I may have been a bit hasty as the impulsive move up hasn't happy as I anticipated.
Current Wave: C wave of a corrective wave 2 which is shaping out to be an ending diagonal. This is likely to be a completion of a wave 3 of a bigger 5 wave move down.
Next Forecast Wave: Completion of 5th wave of C; aiming for a termination point of around 50% or 618% then aim to short this pair for the start of Wave 3.
Feel free to share your thoughts.
Happy Trading!
Current Wave: C wave of a corrective wave 2 which is shaping out to be an ending diagonal. This is likely to be a completion of a wave 3 of a bigger 5 wave move down.
Next Forecast Wave: Completion of 5th wave of C; aiming for a termination point of around 50% or 618% then aim to short this pair for the start of Wave 3.
Feel free to share your thoughts.
Happy Trading!
Note
EUR USD update.Current Wave: 5th wave of an ending diagonal looks complete as the wedged shape usually seen in an Ending Diagonal has developed. This usually signifies that termination of the upward move is complete so expect a short really soon.
Next Forecast Wave: Wave 3 short should start imminently
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