Wave-Trader
Short

Structure broken expecting correction

FX:EURUSD   Euro / U.S. Dollar
1972 11 65
Price has broken Ascending Channel and consolidating under broken structure the best place to sell is close to the channel trend line . Please look at the related idea
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Might be a bit more complicated. Let's see, good trading to you.
+1 Reply
TimStuyts TimStuyts
For trading the intraday moves have a look at the updates below in the post.
+1 Reply
Yes it is complex but i think we will hit D first rather than B thanks for your feedback mate. You too
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TimStuyts Wave-Trader
Yes that is also very likely, however my buy of today is at break even and like to see that move higher first;-). As long as we are dancing around 1.1058-1.1088 there is no bias. So either impulse would be nice to trade the continuation but in terms of bigger picture of this daily triangle the move higher for that wave B projection would very nice in terms of selling with a higher than 90% probability with a tremendous risk/reward potential. Good trading to you and let's see what happens but it certainly looks very interesting.
+1 Reply
TimStuyts Wave-Trader
By the way that wave B is a projection in terms of target, it might not move that far but key is to see a 3 wave correction for that wave B.
+1 Reply
I also predicted that B leg in my last idea but that B leg only is possible when we break back in the broken structure and if price failed to break back in then very likely to be the next target is D. I am expecting FLAG formation under channel trend line and if it forms then there is no chance to break back in and then we may see D wave. thank you mate good luck
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TimStuyts Wave-Trader
I agree.
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thanks
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Waiting for EUR/USD to sell here as well
+1 Reply
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