price made bottom in june before fomc after fomc dot plot price is making higher high.
now price has made abcde symmetrical triangle chart pattern which is now in its final wave e.
since this November fomc is in the beginning of the month so big boys don't have much time.
closing of two daliy candle near lower yellow trend line confirm bulls taking entry and lower trend line working as support.
chart pattern failure
since tapering is good for dollar
if bulls take profit on clear announcement of tapering than it would be failure of chart pattern.
in that condition we will redraw Fibonacci and buy at 50% retracement
target wave A =C
now price has made abcde symmetrical triangle chart pattern which is now in its final wave e.
since this November fomc is in the beginning of the month so big boys don't have much time.
closing of two daliy candle near lower yellow trend line confirm bulls taking entry and lower trend line working as support.
chart pattern failure
since tapering is good for dollar
if bulls take profit on clear announcement of tapering than it would be failure of chart pattern.
in that condition we will redraw Fibonacci and buy at 50% retracement
target wave A =C
Trade closed: stop reached
