1. It seems that since march low the entire rise has been a WXY with recent high on 24th August been confirmed by momentum high.
2.The decline though strong still lack clear 5 wave impulse counts. Hence I am treating this as corrective.
3. We have effective (schiff) which has caught the upside well and could now offer potential support at the lower parallel.
4. We have polarity zone lining up with whole number (minor) and several rib retracement and projections.
Looking for long in the 1.1 -1.09 region.
Failure would below 1.08
Warning: This is my interpretation of price action using TA approach that I consider helps me most but could be completely wrong. Therefore as always, do your own analysis for your trade requirement and ignore my views.
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