We got a strong break to the upside but the stalled just above the 1.10 figure. This pair is now on the verge of completing a five waves decline, so we should see more downside as the 1.1033 high remain intact.
This count suggest that we have completed a zigzag, where wave B was a triangle.
I will look to sell three legged corrections below 1.10334. A break below 1.064 would give reason to believe that a new bearish impulse is under way.
My 2 cents worth ~~~~~
It's an unpublished chart - I wanted the trade to work out !!! (( LOL )))
Anyway, I've been long from 1.0690 looking to profit @ 1.0830 or so
and reverse for at least an equal move to the downside.
{{interesting differences yet the same targets. I'm trying to figure
the longer term outcomes good or bad of the different counts}}
Any thoughts on that ?
Best of Luck to us all !!!!!!
ForceFollower
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Thanks, dojitrader. As for me, your long trade is what I want to see. The later short one, I'd say it's too soon to tell now.
traderWgun
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well this is total legitiment count, but the proposed wave B looks very impusive to me. and there is no signs that an impulse has began for proposed wave C. But I have been fooled before.
Still, I prefer shorts.
dojitrader
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Yes, that b wave is a bit of a mystery and had me looking at this alternate,
you've, no doubt, considered yourself.
Of course it raises more questions of it's own, too.
We do need some impulsive price action to pull me out of the soup . . .
And, Looking for shorts is probably the less aggressive trade.
How we get there is a very interesting challenge, for sure.
ForceFollower
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Excellent. :)
ForceFollower
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Hi, can you update this analysis for me please?
traderWgun
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ForceFollower
⋅
Thank you. So we're likely making an impulse wave going down?
traderWgun
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I think so, but I like AUDJPY and AUDUSD shorts better.
ForceFollower
⋅
Actually, the truth is I've bought some (which, admittedly, was a mistake), still long and wondering, if I should scrap it or hold on to it. Do you see any chance of a larger rally here?
It's an unpublished chart - I wanted the trade to work out !!! (( LOL )))
Anyway, I've been long from 1.0690 looking to profit @ 1.0830 or so
and reverse for at least an equal move to the downside.
{{interesting differences yet the same targets. I'm trying to figure
the longer term outcomes good or bad of the different counts}}
Any thoughts on that ?
Best of Luck to us all !!!!!!