dojitrader

Fully Extended 3 Drive Potential Pattern . . . ???

Long
FX:EURGBP   Euro / British Pound
209 views
7
Clearly symmetrical - So Far - with a confluence
of Fibs and Daily support area =
Third times the charm ?
For a bigger bounce than the other 2 drives.
EW suggests that it could rise back to the 4th wave.
( 3 drives usually retrace to it's origin)
Although this proposed 5th wave is rather messy
as this 5th may develop into ending diagonal .
Candlesticks , as always will help with the long
entry trigger and fine tune the stops.

Comments

Good luck on your set up. Looks good. Just my tuppence worth, but I also spotted this Cypher with a Price Reversal Zone in the same area as yours.

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Stilo4 Stilo4
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