tsoo

tsoo

* 50 EMA acting as support * First impulse up * Channel support * Good R/R * Previous structure lvl acting as support * Trend is up * next major resistance in 1.1200

tsoo

* 200 EMA acting as support. * Channel as support. * 4H previous structure at 0.9080 * good risk reward. * Correction channel if broken gives a good sign that price wants to move up * Good Fibo lvl's Looking this at smaller timeframe for better entery.

tsoo

We need impulsive 5 waves up that confirms our wave count.

tsoo

Looks like retracement is over and we can see first wave up. Lets see how this plays out.

tsoo Updated 

waiting for the correction to end as always, and same time looking for shorting opportunity in the smaller timeframe.

tsoo

We can count three waves up as ABC and now we might have wave 1of5 down, at the moment the wave 2 is developing, look entery in smaller time frame. Count is invalid if break and close above 143 lvl.

tsoo

Possible opportunity do look for long. Lets see how wave E behaves and look opportunity in smaller timeframe.

tsoo

looking for 5 waves down as leg C and after that a impulsive wave up.

tsoo Updated 

There is alternative bullish wave count where wave 4 is wave 1!

tsoo Updated 

we should see bullish movement into wave 5 At the moment we should see a little retracement

tsoo

At the moment i am waiting because there is no clear sign that correction is over. If we see strong move up and close aboce 1.860 then we can look for long. If the price comes down then we should see a 5 waves in the wave c(y). and look long from there. Today is also a Jackson Hole so i think market will wait.

tsoo

I dont trade corrections so, i will wait for the corrections to end and then look for entery(long). But i think wave B is finished or about to be!

tsoo Updated 

i think we have ended the 4 wave(correction). and we should see a big movement down.

tsoo

i think the correction is over and we can look for movement up. at the moment we should wait for retracement and more confirmation.

tsoo

I can count 5 impuls waves up and i think we have just finished 1of5 waves up. This week i think is going to be a correction and we should see a 5 wave movement down in the leg C. At the moment is unclear how deep the correction will be but lets see. Iam not trading it this week but will look the end of the correction.

tsoo

Look for short entery, stops need to goabove 185.000 lvl. For better entery look for smaller timeframes.