The more I see this chart the more I laugh at people buying this cross.. I think a lot of them will target 1.25 and above and my analysis tends to say that we are not on a trend market... but still on a consolidation structure. The technical factors that plead this way are : Sinewave tried a bullish breakout that was flushed out.. so if this thing was bullish, why didn't we go straight forward ? Second I can see a very attractive technical cluster slightly above the current prices which could trigger bearish entries. I'll look for bearish signals into that area and if I actually find some, I'll probably take a short in there ! (low leveraged because the trends remains bullish and we'll still have to plot a 5th final bullish wave before ending this)
Hope this idea will inspire some of you ! Don't forget to hit the like/follow button if you feel like this post deserves it ;) You can check my indicators via my TradingView's Profile : @PRO_Indicators Kindly, Phil
thank you, i have the same idea, how can i send you my chart?
JT85
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I like your idea of shorting but nonetheless in my opinion we are in the 5th wave now (minimum target for 5th wave is the length of wave 1). Waiting for that sell anyway ! Good luck :)