I still follow my long term wave count although there are several opportunities to count the current consolidation on the daily time frame. I believe that this pair is in a triangle consolidation for a wave B which will be followed by a bearish break towards parity and even lower.
The 4 hour time frame shows the structure of lesser degree to create this triangle.
For my day trade set-up call of last week see below:
www.timstuyts.com
www.facebook.com/timstuyts
www.youtube.com/watch?v=HvmWTm4f...
The 4 hour time frame shows the structure of lesser degree to create this triangle.
For my day trade set-up call of last week see below:
www.timstuyts.com
www.facebook.com/timstuyts
www.youtube.com/watch?v=HvmWTm4f...
Trade active:
Last weeks buy set-up took me in the trade and the opening gap of this week made me place stop loss at break even.
I will monitor this bullish price action to determine whether it is a new impulse or part of the more complex corrective combination which is more likely at this stage. Updates will follow, so far risk/reward is at 2/1 with no risk.
I will monitor this bullish price action to determine whether it is a new impulse or part of the more complex corrective combination which is more likely at this stage. Updates will follow, so far risk/reward is at 2/1 with no risk.
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