Rather baffelling situation here - to me!
Is it that huge ABC correction or there would be something more complex one ? Or we are already in a new I --II --III--IV--V?
If ABC there is a long wait and long term shoot BUY at 0.618FIB approximately.
Also if this week price heads south may be there is a possibility for a good ride down on wave C.
If any of the other 2 options , i believe development would be in the comming week.
The opportunity here is to take a BUY if price goes abouve the yellow doted line and holds abouve 119/it is a round number/ and aim for100 pips higher with SL @ 3-4 pips below 118.50.
An agresive and risky trade.
I would recommend moving SL @ break even as soon as possible.
With counting Elliot's wave one never knows right or wrong till proven so. .:)
Happy trading!
Is it that huge ABC correction or there would be something more complex one ? Or we are already in a new I --II --III--IV--V?
If ABC there is a long wait and long term shoot BUY at 0.618FIB approximately.
Also if this week price heads south may be there is a possibility for a good ride down on wave C.
If any of the other 2 options , i believe development would be in the comming week.
The opportunity here is to take a BUY if price goes abouve the yellow doted line and holds abouve 119/it is a round number/ and aim for100 pips higher with SL @ 3-4 pips below 118.50.
An agresive and risky trade.
I would recommend moving SL @ break even as soon as possible.
With counting Elliot's wave one never knows right or wrong till proven so. .:)
Happy trading!
Comment:
Will post another setup whenever i consider such to exists. Now it seems at least half of the year will have general direction down.