We saw that new low 2016-04-08, however the move after that low wasn't significant enough and I'm therefore still looking for a test of at least 120 (likely 119.70).
Bigger picture this pair is still in a consolidation and once we see my target zone get hit the reversal will most likely be fast and impulsive.
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is it possible that the correction ends in a triangle otherwise i can't label the last 2 wave with a proper counting and in my opion to much wave to be noise
unfortunaly the wave e is very impulsive i don't know if that is valid or is is valid because it is also an Z wave
thnx for your view tim :)
This is how I would count it, but don't get lost in complex wave counts when the daily time frame is correcting in a complex combination. Try to keep an open mind because many traders loose a lot of money calling bottoms too soon and in the process also miss a lot of opportunities. However one of my favorite scenario's is a move lower towards 117 or even 112 without invalidating anything. So the bias is clearly bearish for me and I trade what's in front of me and like you said it is impulsive, therefore look for significant consolidations and selling the continuations will be relatively easy and provide high probability trades.