there are two possibilities for EURUSD:
1. price finished its correction as a WXY and we r in wave 1 and if the price break high above 1.16594 (more than 15 or 20 pips) we should wait for a soft correction after that place BUY....
2. price has not yet finished its correction and we r in wave X and it formed as a flat b (price should not break so high above 1.16594 no more than 10 or 15 pips)...so if we see a clear candle stick formation or divergence on macd we can SELL EURUSD with 1.1450 target...
so its time to wait and see what the price will do....cheers every body
1. price finished its correction as a WXY and we r in wave 1 and if the price break high above 1.16594 (more than 15 or 20 pips) we should wait for a soft correction after that place BUY....
2. price has not yet finished its correction and we r in wave X and it formed as a flat b (price should not break so high above 1.16594 no more than 10 or 15 pips)...so if we see a clear candle stick formation or divergence on macd we can SELL EURUSD with 1.1450 target...
so its time to wait and see what the price will do....cheers every body
Comment:
In my opinion 2nd idea is correct and price has just finished its correction at 1.16440 and according to the strong rejection of price from that zone, we r in wave 1 of C downward...target for sell will be 1.15000 and 1.14500...
Trade active:
SELL at 1.1640 with 1.15000 tp1 and 1.14500 tp2...many pips ahead
Comment:
SL for this trade is 1.1690 and whenever price touch the 1.1575 i will break even the trade (move the stop to entry)
Comment:
price touch 1.1575 so i moved SL to entry point and take half of the trade lot out...break even