Anyway, on to my analysis of EURUSD here and what is about to do....
From my wave analysis, this is currently working on a wave c of (x). That wave (x) is part of the larger overall wave B correction which of course we know also is composed of 3-waves. The last of which is impulsive...the wave C. In wave counting, what we try to identify is the PRIME trading opportunities. Namely, the impulse waves. In that sense, wave counting tries to put us onto a trend sometimes even before it can happen! In this case, what my wave count "road map" is telling me is that the wave C is NOT HERE YET and we should not be buying just yet! In fact, I'm SHORT this pair right now expecting the last IMPULSE wave c of (x) to be taking place. You see how it is that wave count tries to put you onto impulsive waves? If you read it right of course!
But if you take anything away from my post here, its that there will be a wave C coming and that wave C may be BIG but you need to be PATIENT and wait for that wave C to arrive AND for price action to confirm that it is underway! Get too gung-ho and trigger happy and you will probably get burned!
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