watch for smaller timeframe trendshift
This is the fourth time we knock at the Supply level, therefore I think not much sellin pressure is left here. would like to see the red way, so lets wait. Till now no way to go short for me.
We are at the lower trendchannel. I expect one more move up to 0.77, where is a big supply zone. On lower timeframe I'm waiting for correctiv pattern, one more up and down before we lift off. Short opportunity would be after breaking trendline an demand levels.
Watch out pricaction at red or blue supply zone. And look for rsi divergence
see chart and always wait vor corrective structure in lower timeframe or candlestick action in higher timeframe
We could have a fivewave structure see orange channel to complete our flat abc. we could also get an abc downwards, see red arrows. This could lead in a triangle formation.
EURUSD could be in a big triangle- trades see chart. If it breaks downside 0.94 would be endtarget
Price could make a three drive pattern (alias double zigzag) to complete the big wxy - pattern beginning march 2015. So the endtarget could be 1,20 (see chart). happy trading all togehter!
Triangle (then we have an A wave) or we get a running flat