In the previous post on this pair, I mentioned that if prices were to not complete the pattern abd trace down along the lines of the pattern, I would look to go LONG upon the completion of the looking to go with my LONG TERM analysis (see Related Ideas: "Analysis: EURUSD: LT* Outlook + ST* OR Cypher"). Well not so fast just yet......
Due to recent price action, a has now appeared that would fill BELOW the lower of the ABCDE symmetrical triangle channel B wave by just a little bit. If prices were to stop and reverse at that point, the "Crab Completion Scenario" would still be intact.. However, if prices were to fill this pattern and then reverse to hit target 1 and then head back down, then I would start looking more towards prices heading lower and completing the "Gartley Completion Scenario" per my LONG TERM analysis.
Just pay very close attention to the price action as prices come closer to completing the . I will still take LONG positions on the completion of the but will be extra cautious that prices will keep heading lower towards the pattern.
JUST RELEASED! 2018 Guide To The DXY! Want it? Ask me how!
Sign up to mailing list: http://bit.ly/2iNieEY