Wave C seems to end at larger up trend line with possible 5 wave count (confirmed by an overlap zone). I will looking for a BUY opportunity at breakout of bear channel or buy right at 50%-76.4% Fibo.
If price breakout, price should travel to 61.8% fibo (The Median Line is the first target!)
I don't count the waves here! Just a simple pattern comes up: corrective-impulse-corrective-impulse. Only 1 question for me: Does it end? ==> my observation: For what ever it is, a triangle (5 waves), a flat (3 waves) or a diagonal (5 waves), it should develop 1 more up leg. Go long with your own breakout strategy!
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It seems to complete the correction at wave z. Looking for sell at break out!!
I had stopped out on previous idea for this pair. However, I believe bull will resume soon. Here is an idea
Update my idea on previous idea on this pair. We are on wave 5 and price tends to form ending Diagonal. Bull is going....
The key point here is the current wave is an impulse or a correction at current timeframe. Base on the price and time, I assume that the current wave is an impulse of an ABC. This ABC is wave B in larger correction. So, price should going down 1 more wave with 5 smaller waves before going up!
It seems to begin wave 2 of next motive wave (there is a overlap zone there). I will Buy at 2 level of fibo as drawn on chart. Good luck to all.
The current down wave should be a 5 waves structure. Price should go down to finish the 5th wave before going up by a impulse wave.
If the price breaks the current wave trendline, price would go up for both 2 cases: A correction of down trend or new impulse of up trend.
The wave structure is labeled on the chart. Price may go flat and then make a higher high to finish ABC structure of wave B. I also refer a correct wave down to near by the peak of wave 4!
It seem to be at side way correction of bear leg (wave B). Expect 1 more C leg before going up!
It seems to be at wave (c), price may hit the day trend line and don't higher than the top of Aug. Just waiting for break out or overlap to sell.
It seems to repeat the same previous pattern. Short @ top, very good RR
There are 2 reasons to sell: I find a overlap zone which imply that the current wave is not wave 4. So, the bull wave (wave c) may ended. The current down trend form clear pattern of 5 wave structure as on the chart. I will sell on top of triangle or sell at the break out of this triangle Thanks
Current wave may be wave C with 5 wave structure. Why? Previous wave is a 3 waves structure. So, it should be wave B. Price dropped down impulsive and fast. This wave could be wave 3 of wave C. Trade setup: Sell @ the break out or Sell @ 61.8% fibo level
The same idea with previous forecast. I plotted the overlap zone which reject wave 4 of a possible impulse wave. So, I determine this is a corrective wave. The next question is DOES the wave end or not. This corrective wave reach near to 61.8% fibo level and did not overlap the 1st wave, price also bounced up . Trading strategy: I assume that price is...