GWaves
Short

$EURUSD | Short Trade | Targets Defined

FX:EURUSD   Euro / U.S. Dollar
Hello Traders,

EURUSD             has offered a high probability move to the downside. The targets have been defined as follows:

Dark Red = Very High Probability Target
Medium Red = High Probability Target
Light Red = Medium Probability Target
Grey = Low Probability Target

If the Grey target is hit consider this Geometry:



This has been in development for several months (take a look at the related idea posted months).

Best,
Chartistry
Comment:

Forecast remains in tact and in force.
Comment: Consider the Following adjustments in the targets. Also note that the completion of the Wolfe Wave now becomes a high probability event. Could this be prophetic of a USD fall?



Best,
Chartistry
Comment: UPDATE: 1st and 2nd Targets Hit.



3rd target remains a probability.

Best,
Chartistry
Comment: UPDATE: 3rd target not hit. But a potential point 5 creation was made. Waiting for a clear signal from this level.



Best,
Chartistry
Comment: UPDATE: A break of 1.04998 would give way to 0.99451 and 0.96904 as the next highest probability targets.

If 1.04998 holds, look for the Wolfe Wave to take course.

Comment:
Nice trade man. Thanks.
And now, time to long?
Reply
GWaves MySelfandI
@MySelfandI, Well, I think from this level we are going to see a very small retracement (relative to the entire Wolfe Wave formation). What I'd look for here instead of a long is a break across and close across of the recent low made in the daily level. If that is done consider the following chart as your exit points.



My reason for this is a rather obvious one, Fed raised rate and will continue to do so throughout next year. Euro is in trouble, fundamentally speaking.

To directly answer your question. You can enter a long here and put your stop loss below the recent low. Giving yourself a low risk to reward scenario. A long position here will require a lot of patience.
Reply
Would have been a good trade if it wasn't for the US elections
Reply
GWaves Vollux
Hello @Vollux the targets remain unchanged.
Reply
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