A big corrective structure is expected. (A)-(B)-(C) may2016-jan2017 bear market should be corrected. Wave (A) looks like formed. Wave (B) is forming. when it is done, good BUY opportunity is expected. When wave (C) [bull market] is done, major BEAR market is expected. This (A)-(B)-(C) pattern is expected to be comleted in june - september 2017. Possible eurusd wave (C) target is 1.1126. no clear predictions by now.
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close look at wave (A) [9feb2017 made]
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s-term buy target is 1.0713 after that I expect a good sell opportunity (maybe on Thursday)
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a possibility of touching 1.0713 remains
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1.0713 was touched
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eu moves according to original plan wave c (purple) formed 5 wave structure, which completed green wave (b), which is 3-3-5 expanding flat. now green wave (c) should unfold to complete yellow wave (B) sell targets on a screenshot. watch pointed breakout for confirmation of sell signal. it should be a nice sell. trade with care!
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divergence formed. trendline of wave 5 is broken. move to major trendline of wave c is expected. after that break a big move down is expected.
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bullish flag was broken it might make one more top before going down. pointed trendline breakout will be a confirmation of sell signal.
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price still stays inside channel wait for breakout to sell it!
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eu broke a structure with a real sharp move. now we should wait for a flag / correction to sell it. (if u are not already in sell) big picture update.
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re sell setup watch breakout
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flag was broken actual short term targets
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75 pips by now. not bad move.
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looks like that was a resell point. eu still has a room to fall.
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it might do this before doing a next big drop
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that was a nice sell. I kept drawings as it was. it's still actual. main scenario is in play. wave (A) is still forming have a nice trading!
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I expect price to crawl up a little bit more and make a complete ending diagonal pattern in 5th wave of [5] th of wave (A) that will give us a textbook sell setup. (maybe in 1-2 weeks)
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buy targets is done on 95% I'm not sure if this fall is a start of next big down leg. it might do one more up before next bear markets unfolds. personaly I covered short positions by average price of 1.09 (30-40 pips of profit) if this down move is a new impulse, wait for correction to sell it. anyway buy potentional is limited. but price may retouch upper trendline or even break it and only then reverse.
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5th wave trunction? why not? 5th wave = 3rd wave * 0.618 trendline of diaogonal is broken big picture
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price action took me out of trade. I will look for next sell opportunity
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actual wave count wave (A) is almost formed (1-2-3-4-5) [red] 5th red wave is 1-2-3-4-5 [blue] 5th blue is 1-2-3-4-5 [green] 5th green is expected to be a-b-c. c is expected to be 1-2-3-4-5. watch it! EU should follow gold fall in a few days! I will try to resell it near upper trendline and after pointed trendline breakout will occur(as confirmation) set limit and stop orders should help u.
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fed interest rate decision in 2 h. I expect it should trigger eu sell watch it!
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price broke trendline, but it did not maka a new top. what does it mean? - 5 wave trunction scenario - structure is not completed, so a new top may occur. anyway, if eu is already on its way to the bottom, (as Anil Mangal says) we need to wait till price makes and breaks a flag to sell it. it's a nfp report on friday, which might add a fuel to our expected bear market.
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flag breakout should confirm further down move.
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flag breakout gave only 15pips down move. shame. eu movement upsets me. it underperformed gbpusd and xauusd. now it looks like eu wants to make a new top with its final wave 5 of 5.
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a new top is finally done price break through upper trendline. wave 5 should not exceed wave 3 size. (go beyond 1.0982) if it does, it will break a structure rules. (wave 3 (red) can't be the shortest wave)
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price action broke the structure. wave 5 exceeded wave 3 size. wave count is no longer valid.