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glennmercer
Jan 20, 2016 1:42 PM

EURUSD Long: A second Entry at Triangle Completion Long

Euro Fx/U.S. DollarFXCM

Description

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
Comments
jamiejudgie
Please have a look at my wave count, playing out as expected so far!

glennmercer
Nice job mate I'll dig into this a little deeper later on today.
khaled_FX
agreeing with your forecast as long as 1.0850 is intact, waiting the ECB
glennmercer
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.
krescht
Great work
glennmercer
Thank you
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