AbhishekHSinghCMT
Long

EURUSD-- Triangle in form..look for E-wave & Collapse?

FX:EURUSD   Euro Fx/U.S. Dollar
130 0 8
Since 16th March 2015--EURUSD has been forming triangle in larger context which has ability to confuse most of the participants. Recently, we have been moving into D-leg which made low@1.09119.. In D-leg--- a = c...I had a target of 1.0900 (Not Pulished on Trading View)...I shall be looking for an 3 wave sequence giving us E-wave...The Most Important thing to remember is E-wave high should not cross above C-wave             high@1.1616...otherwise triangle scenario gets violated.

Trading Opportunity (Long)
One can go long with a tick below 1.0900 as stop for a-leg target....then let it retrace in b-leg & go long again in c-leg of E-wave with same stop loss-a tick below 1.0900 because Triangle Scenario if True--will cause havoc on markets...I mean to say ..D-leg sharp caused britain to exit...who knows...E leg will eat other countries of EU as well...

Trading Opportunity(Short)
Once E-leg is in place & below C-leg high of 1.1616....One can put stop loss a tick above 1.1616 for going shorts & collapse post triangle....

Have proper risk management..& Trade....

Regards,
Abhishek H.Singh, CMT
Trade active: 20:10 Hrs ..IST-25th June 2016-- If pair moves below 1.1035...no one takes long & we will flip our position to short again targeting below 1.09119....Prices going below 1.1035 will indicate that I have to slightly change the count as (E) -wave ending where I have shown b-leg of (D) wave...& we are in impulsive down 1st leg post triangle...Regards
Trade active: 6:20 Hrs...IST-- We have started asian session..Euro has opened gap down & broke 1.1035...we shall put stop a tick above 1.1200 & shall look for 1.09119. Regards
Trade active: 7:30 Hrs..IST-- 27th June 2016--- Let us take 25 pips & close short trade to re-enter later....current price--1.1005
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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