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paulDtrader

EURUSD SHORT AFTER COMPLETION OF EW 1-5

Short
Euro / U.S. Dollar (FX:EURUSD)  
paulDtrader Updated   
FX:EURUSD   Euro / U.S. Dollar
Wave Analysis Chart Patterns
1
0
waveanalysis chartpattern
I'LL BE LOOKING TO SHORT WITHIN THE HIGHLIGHTED ZONE. TP AT THE GREEN TARGET LINE

REASON FOR THE TRADE (TECHNICALLY):

1) POTENTIAL COMPLETION OF LEG 5 OF EW WAVE COUNT
2) DESCENDING TREND LINE AND RESISTANCE CONFLUENCE

HAPPY TRADING!
Trade active
Comment:
Wave four on the chart was in anticipation of a 38.2% retracement of wave 3. However market reversed at a more shallower wave 4 at 23.6% retracement instead of 38.2%. My take profit on this short is represented by the new wave 4 which is at 1.19393
Trade closed: target reached
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