First of all I wash you all a happy prosperous new year.
We still believe that wave 4 correction is still underway and we will see the continuation of it during this week. Another scenario is that wave 4 is a running flat in which wave b goes a little bit higher than wave 3 before going down but we don't see this scenario in other USD crosses.
If you are looking for a safer trade, you could wait until we see an impulsive move down that represents the last leg down of wave 4 and then initiate trades.
After all, each one of us has their own risk aversion.
Hi. Thanks for your idea. I have been following a similar idea for a little while. I am also thinking that 4 might be forming as a triangle. Our count is similar and price must not touch 1 or the whole count is invalidated. I am not thinking expanded flat but in these markets anything can happen even a wxy. We just need to be more aware. I am thinking 105 after all is said and done
ResonanceTrading
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Here is an Image of our second most probable scenario, but it is not to scale yet. depending on the next 10 days we would be more able to develop a clearer picture.
Thank you :)