D1 We got a sharp impulse up breaking the TL and now were getting a rather complex correction in wave B which leads me to believe were only going to get a C wave up so I'll be only targeting the 100fib (not yet drawn)
H4 We are getting a corrective ABC structure with an internal running flat in wave B. Technically wave C only needs to break below wave A, price has clearly done this but I don't see any buy setups at this stage on the lower timeframe so I'm expecting a little more downside before we get the D1 wave C up.
H1 We have an impulse down. Price action looks to be forming a bear flag at this stage in a wave B, what the exact structure of wave B will become is anyone's guess at this stage. There is the possibility of bull hidden divergence but like I mentioned above I don't see a buy setup at this stage.
You can scalp the H1 C down if you get a setup but I'm more interested in buying the larger D1 C wave impulse, I think the downside is limited.
I will update this idea when I get more data.
Good luck and trade safe!
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H4 We are getting a corrective ABC structure with an internal running flat in wave B. Technically wave C only needs to break below wave A, price has clearly done this but I don't see any buy setups at this stage on the lower timeframe so I'm expecting a little more downside before we get the D1 wave C up.
H1 We have an impulse down. Price action looks to be forming a bear flag at this stage in a wave B, what the exact structure of wave B will become is anyone's guess at this stage. There is the possibility of bull hidden divergence but like I mentioned above I don't see a buy setup at this stage.
You can scalp the H1 C down if you get a setup but I'm more interested in buying the larger D1 C wave impulse, I think the downside is limited.
I will update this idea when I get more data.
Good luck and trade safe!
If you like this idea hit the thumbs up to show your appreciation for this free analysis, You seen this count and analysis here first!
Thank's to all the traders in advance that hit the thumbs for your support!
Comment:
H1 Were getting the C down, good job if your short but now lets see if we get the bullish divergence and a buy setup once C is complete.
Comment:
EURUSD H1 Buy Opportunity. Checkout the idea to get the complete picture thanks!
