Following on from my earlier chart on short term view, we have topped in and have broken down from that. Now it seems we have dropped in or possibly , which is being retraced in (a, b, c, zizgzag) at present. On completion we could have low risk shorting opportunity around 1.3080 -1.31 area. Slightly further out overall decline target is around 1.2950 - 1.2920. But you can have initial target of 1.30 area
Hi thank you for viewing my chart and posting your observation. You could be right. However from the low of 1.2660, I seem to make 5 waves move up ending in rising wedge ie Ending Diagonal. So now I am expecting some retracement of the move. The could take place in possible A, B, C zigzag down and current minor move on smaller time frame is just a start I think. Check my earlier chart with view on larger time frame.