*EURAUD*
My eyes are still on this pair. From what we can see, we have just completed the wave 3 structure and market retraced to give us an abc structure. We then moved up and made 62 points of profits. However, the market moved down and broke the low of the previous abc structure but is seen to be respecting the structure of end of wave 1.
Now from the look of things, we seem to be having a complex correction. That move has just given us wave waves moves down to complete a of an abc. In addition to my boas, we know the rule of alternation. Wave 2 was a simple wave, so wave 4 is expected to be complex.
We already have a zigzag. So what we expect next is a flat or a triangle. Before wave 4 can be complete.
I will be taking a long position and take my profits at the beginning of wave wave a. but with a very minimum risk of about 40 pips loss once get my confirmation. On the other hand, we wait.
*Trading with Samuel*
My eyes are still on this pair. From what we can see, we have just completed the wave 3 structure and market retraced to give us an abc structure. We then moved up and made 62 points of profits. However, the market moved down and broke the low of the previous abc structure but is seen to be respecting the structure of end of wave 1.
Now from the look of things, we seem to be having a complex correction. That move has just given us wave waves moves down to complete a of an abc. In addition to my boas, we know the rule of alternation. Wave 2 was a simple wave, so wave 4 is expected to be complex.
We already have a zigzag. So what we expect next is a flat or a triangle. Before wave 4 can be complete.
I will be taking a long position and take my profits at the beginning of wave wave a. but with a very minimum risk of about 40 pips loss once get my confirmation. On the other hand, we wait.
*Trading with Samuel*
