The past two weeks have been really choppy and unclear with EU. With many traders (including myself) anticipating a momentum based
move from the pair after a rather dummy double top formation between the 31st of July and the 6th of August to try and catch out
early sellers. I have since been waiting in observation as the expanded flat correction tends to develop into an extended corrective
structure. We're currently in a small ascending channel at the possible summit of an impulse, considering that in an alternative count,
the current first wave top also aligns with the possibility of being a fifth wave in a higher degree count. However with the current count
I am anticipating a 5th wave completion for the red count. Very controversial at this point. Rules always lead the way though. Two key
levels may determine the outcome of the momentum of direction.
Key levels:
-1.18800
-1.17650
Let me know what you think the week ahead holds for this giant, it'll be very interesting to see and learn from your perspectives. Lest, have
a blessed trading week ahead and practice safe risk management. God Bless.
move from the pair after a rather dummy double top formation between the 31st of July and the 6th of August to try and catch out
early sellers. I have since been waiting in observation as the expanded flat correction tends to develop into an extended corrective
structure. We're currently in a small ascending channel at the possible summit of an impulse, considering that in an alternative count,
the current first wave top also aligns with the possibility of being a fifth wave in a higher degree count. However with the current count
I am anticipating a 5th wave completion for the red count. Very controversial at this point. Rules always lead the way though. Two key
levels may determine the outcome of the momentum of direction.
Key levels:
-1.18800
-1.17650
Let me know what you think the week ahead holds for this giant, it'll be very interesting to see and learn from your perspectives. Lest, have
a blessed trading week ahead and practice safe risk management. God Bless.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.