EURUSD: Trade setup for short
In the previous idea I set a target price in diapason 1.148-1.15. On Friday the pair did a1.1465 , but wave count inside fifth wave looks ended, the pair has touched support blue line, also significant H4 MACD divergence, Fibo proportions (wave (C) = wave (A) x 1.618) indicate, that the pair already have a new hight or nearly the top.
The best way for say, that the wave fifth of 5 ended when price will break a wave fourth of 5 at 1.13225.
When the pair, will break a wave 4 of (C) at price 1.11297 it will indicate that the wave (C) has ended and pair will going down.
Also, I look at DXY index. There the wave count of correction are looking ended too and index ready to rise. It means, that this pair will going down and take a new LOW (at least a parity) and DXY will going up and take a new HIGHT.
So, what next?
Aiming, Aiming... and short. I will wait when the pair will break 1.1325 - good signal for short with SL 1.1465. It is aggressive short, but it may give an amazing trade if wave (4) end.
ALT COUNT also possible here. It means, that after a small down this pair rise again and will try do a new top. This count will cancel after brake at 1.1119.
The best way for say, that the wave fifth of 5 ended when price will break a wave fourth of 5 at 1.13225.
When the pair, will break a wave 4 of (C) at price 1.11297 it will indicate that the wave (C) has ended and pair will going down.
Also, I look at DXY index. There the wave count of correction are looking ended too and index ready to rise. It means, that this pair will going down and take a new LOW (at least a parity) and DXY will going up and take a new HIGHT.
So, what next?
Aiming, Aiming... and short. I will wait when the pair will break 1.1325 - good signal for short with SL 1.1465. It is aggressive short, but it may give an amazing trade if wave (4) end.
ALT COUNT also possible here. It means, that after a small down this pair rise again and will try do a new top. This count will cancel after brake at 1.1119.
Related publications
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.