Hey traders! We have some big targets below. I want to ride the third wave, but only after the wave-(2) correction completes. We have some potential advanced patterns lining up that could make for good short entries. We may see a drop before a rally to pattern levels, so I won't go long here as this X wave has potential to drop back down to the base of wave-(X).
Short taken at pattern completion and pinbar support. See new idea for updates:
Trade closed manually:
Closed at Breakeven! The triangle continuation was accurate (see above trade idea), no pips lost nor gained. New wave count pending, stay tuned!
Doji candle on the weekly chart backs up the bearish bias on this pair will be looking to short around the 0.87000 mark too. Although we should watch the fundamentals on this pair as its quite uncertain right now with both currencies lacking the strength to really push for a new trend bias. your analysis is great though i like it, happy trading, have a great week. :)
Thanks Josh. And great call on the weeklly doji I hadn't seen that until you pointed it out. I took a short trade on this already. If SL is hit, I'll be looking at larger bat entry as you are. I have a very tight stop, see below: