We are in a correction started at 1.13 Two possible counts now : 1) Wave B is in place so now price is making wave C higher as a motive wave giving long opportunites. ---------------------------> LONG 2) We are in a WXY formation, so that we then need price to fall down to Y to have B in place, followed by a C wave higher. In this case, the (i, ii) wave count...
Looks like we are in a flat correction, in the C wave of the extended B of the Flat. C wave itself is composed of an Impulse wave. Looking for it to end soon (if it did not already), The impulse might be ending an extended wave 3, which means after a small wave 4 correction, price will carve it's way up for a fifth and last wave before giving us sell...
Small trade for the week 10 - 14 Sep. TL broken, divergence on RSI & MACD On MA(21). Move SL to break-even once 1:1 R/R is hit.
Wait for MA or Trend-line break before going long SL : a few pips below last low or 0.7202 for a more conservative one. Target 1: 0.7380 Target 2: ~0.7454 Target 3: 0.7560 to 0.7780 **Price neeeds to hold above 7203 for this bullish move to be valid !
USD weakness is kicking in after it outperformed it's pairs for the last months. Now EURUSD is looking for the upside, targeting the 1.20 area.
Simple trade for the week Entry on trend line break Invalidation level : 25815 Target 1 : 25600 Target 2 : 25500
Price is finishing a five wave bearish impulse move, so I then expect a corrective move up to .382 - .618 Fib levels. I won't go long just yet and definitely not short. Wait for price to turn before buying, don't try to catch a falling knife, you'll just bleed to death !
Impulsive wave is now ending (if it did not already end). This rally would be a corrective wave 2 or b. Anyway, expect price to go up to .382 or .618 Fibonacci levels (0.76 to 0.78 cents).
Short possibilité SL : 1.175 TP : 1.13 to 1.11
Wait for pullback, confirm the breakout before re-entering short.