SXPUSD Watch the market and gain 5% in quick time of period
Eliot 1st and 2nd wave completed lets see if it goes for 3rd wave at 1.618 target if it brakes above 0.7971 price range that's a sign to buy
also RSI doesn't show any signs of bearishness yet.
Macd might to tick a bit downwards then go up.
But before entering be careful because we are in diagonal pattern right now and I'm expecting 5th wave to touch trend line.
We are near the top trend line so be very carefully before entering
IF Rsi starts getting lower high and the price action go upwards, then it means that we touched top trend line and we will go down to the 0.68range
Entry long :
0.8 if volume strong
Target:
0.84
Entry Short:
0.807 or 0.7981 if bearish signs as rsi divergence and volume is low or doji candle
Target: 0.7575
also RSI doesn't show any signs of bearishness yet.
Macd might to tick a bit downwards then go up.
But before entering be careful because we are in diagonal pattern right now and I'm expecting 5th wave to touch trend line.
We are near the top trend line so be very carefully before entering
IF Rsi starts getting lower high and the price action go upwards, then it means that we touched top trend line and we will go down to the 0.68range
Entry long :
0.8 if volume strong
Target:
0.84
Entry Short:
0.807 or 0.7981 if bearish signs as rsi divergence and volume is low or doji candle
Target: 0.7575