dojitrader

Fine Tuning 5 UP with Bat Long ???

Long
FX:EURGBP   Euro / British Pound
193 views
4
Wave 5 seems to have extended over the original wave count
and may now develop into a deep 2 or B wave correction.
The potential Bat pattern adds to the confidence.
Clearly defined risk below X as that would invalidate the
wave count completely, although, if it remains in 3 waves
it could be considered an expanded flat - perhaps.
Anyway, below X and I'm lost = well defined /low risk trade.

Comments

Thanks for sharing! I agree with this idea..
When price gets near D, I'll be watching for a Pivot line in the PRZ for a more accurate entry.
In the unlikely event that we'll get there today, it'll be the S2 Pivot at 0.70581
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