Euro looks to be moving in a Triangle (Elliott Wave Analysis)

Euro : 4H : Looks to be moving in a Triangle formation for W.x . We wait for the completion of the pattern to initiate shorts.

If we see a straight out move to the upside above the current W.C Cir. level then that would mean that the Triangle pattern has been Invalidated and a review would be required.

Comment:

Euro : 4H : Wave x Triangle looks to have been completed, suggesting more downside move from here on.
Strategy : Wait for a move below the B-D trendline to enter shorts with SL above Wave E high.

Comment:

Euro : 4H : Hypo 1 : Red : Triangle complete, down move in progress confirmation below W.D Cir. low.
Hypo 2 : Cyan : Price is in W.E of Triangle formation of W.x .

Strategy : Based on both the scenarios, shorts can be initiated on a move below the ST line, keeping SL above the W.E Cir. high.