Wave b retraced 78.6% of a
The subwaves of b, wave ((c)) is at the 1.618 Extension.
both those levels are at 0.679x, with 8pips difference.
So, I'm confident we will see price fall for a last wave c now towards 0.6686. (~100pips)
Therefore, you can short this now at current price.
Note that even tho a correction can be an expanded flat, wich retraces more than 100% of a, the subwaves structure of the abc move, point towards it's termination at current level.
Short Trade Setup :
Entry : market price 0.6796
Stop : 0.6824
Target : 0.6686
PS : here you have the higher degree move of the pair :
The subwaves of b, wave ((c)) is at the 1.618 Extension.
both those levels are at 0.679x, with 8pips difference.
So, I'm confident we will see price fall for a last wave c now towards 0.6686. (~100pips)
Therefore, you can short this now at current price.
Note that even tho a correction can be an expanded flat, wich retraces more than 100% of a, the subwaves structure of the abc move, point towards it's termination at current level.
Short Trade Setup :
Entry : market price 0.6796
Stop : 0.6824
Target : 0.6686
PS : here you have the higher degree move of the pair :
Trade closed: stop reached
- 27pips.
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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.
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.