glennmercer
Long

EURUSD Long: A second Entry at Triangle Completion

FX:EURUSD   Euro / U.S. Dollar
EURUSD             is nearing the completion of wave-(e) of a possible contracting triangle that could mark the end of wave-(2) before the three-of-C breakout. Entry at AB=CD inside of wave-(e) is confluent with the completion of a bullish cypher and may act as a catalyst for the bullish impulse. Long term target is placed at A=C. It is possible that another rebound off of the top of the triangle could occur, but we would avoid our SL as price would remain inside of the contracting triangle and the breakout would likely occur soon after.
Comment: First bullish entry:
Trade active
Trade closed: stop reached: ECB announcement calls for a recount
Please have a look at my wave count, playing out as expected so far!

snapshot
+1 Reply
glennmercer PRO jamiejudgie
Nice job mate I'll dig into this a little deeper later on today.
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agreeing with your forecast as long as 1.0850 is intact, waiting the ECB
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glennmercer PRO khaled.gaad
Always good to wait for big news to pass before entering a position. Yes, the SL is 1.085 which is the count invalidation level.
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Great work
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Thank you
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