Look Left & Trade Right....Pink 3rd Wave could complete at 1.1015--where it will be 2 times of its respective 1st wave...if that level gives away..then 1.0970--where 3rd wave will be 2.618 times of its respective 1st wave...& finally if 1.0970 gives away then ...strongest of all shall be 1.0910 where 3rd wave shall be 3.618 times of its respective 1st wave...
This is how we shall move in coming days... Once 3rd wave is done...look for sharp upside move to the zone 1.1060---1.1070(incase 3rd wave stops at 1.1015)---Look for the zone 1.1035-1.1045(incase 3rd wave stops at 1.0970) & Finally look for the zone 1.0990-.1.1010(incase 3rd wave stops at 1.0910) ...which should complete 4th wave ...& then finally 5th wave shall resume downside ...keeping a stop a tick above 2nd wave ...which is 1.1151 ...one can go short for 5th wave...
Regards, Abhishek H.Singh, CMT
Trade active
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07:00 Hrs--IST--18th July 2016--EU opened gap up...Currently Trading at 1.1068....Once it starts trading below 1.1050---one can flip their position to shorts with strict stop loss@1.1111 as compared to 1.1151...Regards