After the most recent impulse the pair has been forming a consolidation for a few days. Now the consolidation is either a Regular flat or an Expanding one. I am slightly favoring an Expanding flat more for the reason that the pair has not formed 3 wave structure up to the top but only 2 so far. So I expect 1 more brief wave up before the bigger move to the downside which will in terms be leg c.
My personal details: Short @ E: 1.5040, SL: 1.6040, TP: 1.4740, RR: 3 OR E: 1.5260, SL: 1.5360, TP:1.4760, RR:5
For risk and money management purposes, always determine a max. of 2% risk on every trade. For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss. Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market. This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
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Bigger picture. We are currently found in a Running Triangle correction
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Getting closer and closer to a break down..? Ending diagonal almost complete