You know what to do.
I would only say it's valid when the top of the line is broken.
Then enter around zone at for best entries and good RR.
It's RISKIER than my previous fractal because the structure is premature.
I made it as elementary as possible. Hope this works out and I'll be updating it when things change/go according to plan.
looks to me like ada is close to completing a Flat correction.
if we assume that its completed 5 waves up on the higher degree, then we have a conservative count that at least would give us an ABC for the X before the next leg down.
the bullish outlook would have the flat complete the 4th and begin a new impulse for the 5th, but i'm not betting on that count...
I see that GBPUSD has been in quite a strong uptrend for some time now and has began correcting.
I have labelled the correction as a zig-zag followed by a flat. It does have the potential to become a more complex correction,
however, it is looking upside regardless if it continues correcting or resumes the uptrend.
I have drawn out how I see the flat to have...
GBPCHF could be forming a flat corrective pattern.
It has made the (3-3)-5 structure so far and has made the first wave of the 5 wave structure.
If the 5 waves are made it would confirm the flat.
The fist wave has been coupled with a correction which I expect to terminate at the 61.8% retracement.
Following a break of this short term trendline it would confirm...
USDCAD appears to be in the ABC cycle down.
Wave C seems to be the current wave.
The fist impulsive sub wave of the 5 (C) wave pattern has completed.
Sub wave two has created a running flat (please correct me if I am wrong).
From here I expect USDCAD to fall and go on to either create the 3rd sub wave (impulsive), or continue to create a more complex...
There is a high-probability chance this pair could finish a flat move which could bring the price down to at least retest the bottom.
IF THE BREAKOUT OF THE ENCIRCLED AREA HAPPENS YOU MAY THINK TO TAKE THE TRADE.