Long first then Short

Currently wave: Wave 4 retracement (Expanded Flat)
Next wave: Completion of wave 4 at either 50% or 618% retracement - Also gap to be closed around 1.08426 as marked.
Forecast wave: Wave 5 short to potentially make a new 12 year low at 1.0460

Comment:

Update: Completion of wave 4 is almost there so we wait for a 5 wave impulse down, then an ABC wave 2 correction and then we short again!

Key Indicators: We are looking out for 2 magic marks - 1) gap closing price at 1.08426 2) retracement of 50% (1.0820) or 618% (1.0890)

Good Luck trading!

Comment:

Bang on the money!

Happy Trading everyone!