In this 4HR chart, I have this move up being the wave (II) of the larger wave 5 down. That, my friends, would mean that we are going to be seeing a wave ( III ) down! And you all know what that means! Does that sound good? BUT...not so fast!
Here below, I have two different long term views on this pair. You can take a look and see however that BOTH views although different are both at this moment calling for prices to head back down. Mind you, these aren't the ONLY views there are on this pair but to me, they are the most logical.
I will be elaborating more on the long term outlook on this pair in both scenarios on my website in the coming days. If you want to see it and get a jump on this pair, well...you know what you must do!
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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