Current Wave: Short wave c of wave 4 of an is currently in progress
Next Wave: Long to make a new high at the termination of wave 4 to either hit 50% or 618% retracement of the bigger wave (1) as marked.
Forecast Wave: Once the high is made, expect a sharp start to wave 3 which will be signified by a 5 wave impulsive move to the downside.
There are still pips to be made on the up side but it is prudent to wait for the completion of the wave 5 of an where the potential pip gains to the down side could exceed 1000+
Feel free to comment and share your thoughts
If there isn't any further momentum towards the downside, I will look at going long to the complete the wave 5 of an Ending Diagonal.
Looking for a rally in a Zig Zag pattern to either hit 50% or 618% retracement of wave (1) to complete wave 5.
I'm looking for a last spike/push form the EUR before I look at options to go short with this pair.
I have taken a short position and will wait for an extreme sell off of the EUR as this is wave 3 based on my count so I expect this move to be sharp, quick and deep; possibly breaking the 1:1 mark