It's been a while since I posted so thought I'd update a quick count on this pair as I am anticipating a shape wave C short for the upcoming week and possibly the next few weeks.
Since my last post, we saw EU spike up back to the levels back when Trump won the US elections last year; and now, EU is in a corrective wave down to potentially close the gap back in round 1 announcement of the French Elections.
Quick count from the high at 1.12959:
Wave A: WXY (Double ZZ combo wave down) where W vs Y wave terminated at 50%
Wave B: Flat B wave - This wave potentially has one more high to hit 0.618% Fib retracement of wave A but could also be terminating at this current 0.50% fib retracement level.
Wave C: 5 wave impulse is next which could close the gap at 1.0730
Overall count for this move will be a (3-3-5) where C wave could extend to 2.618% of wave A.
This week will be very telling so keep an eye out of a possible shape rally from the EUR before falling quickly in wave C.
Good luck with the upcoming week of trading.
Good Luck all :)
Crazy moves from EU yesterday so no short entry found - Will keep an eye on this pair this week and see if there is a possible move to the downside as a correction is due.
A = WXY
B= Flat and the spike was wave (c) of B. Also A vs C wave = 1.618% extension (a key termination point and there a visible triangle wave 4 in wave C so possible turning point as triangles are terminal moves.
C= Estimating a wave C to start now so looking for an short entry again.
EXPANDED FLAT COUNT
WAVE C COUNT OF B