We got a Leading Diagonal for wave 1 and a Flat correction for wave 2.
If that's the case, this move higher is wave ((i)) of higher degree wave 3 and the corrective wave ((ii)) might be in place as it turned at the 61.8% retracement.
We should therefore expect wave 3 to develop in a 5 wave move to the upside.
The count gets negated if price moves below wave ((i)) low.
*** Trade Setup ***
* Entry : now or on pullback.
* Stop : last low or wave ((i)) low.
* Target 1: 1.3540
** Target 2 : 1.3710
If that's the case, this move higher is wave ((i)) of higher degree wave 3 and the corrective wave ((ii)) might be in place as it turned at the 61.8% retracement.
We should therefore expect wave 3 to develop in a 5 wave move to the upside.
The count gets negated if price moves below wave ((i)) low.
*** Trade Setup ***
* Entry : now or on pullback.
* Stop : last low or wave ((i)) low.
* Target 1: 1.3540
** Target 2 : 1.3710
Note
Price moving up +70pips alreadyMoving Stop to Break-even
Note
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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.