It starting to look like the FX Commodities are about to get bid. Wave (A) was a flat. Wave (B) was a zigzag. Wave (C)=(W) was in five waves.
After that we got a wave A zigzag, and a complex wave C. The complex wave C could be done, but as 1.9565 holds we could see another three legs higher to complete a triple zigzag correction for wave C. Wave C should complete wave (X), and after that wave (Y) should follow lower.
My Gawd ~~~~ You're on fire !
You must have just come back from a vacation ?
More great analysis and enticing trade possibilities.
I'm assuming you did not go with the ending diagonal
as it does not have much of a subdivision with decent 3-3-3-3-3.
However, it does point somewhat towards my anticipated entry around 2.0200.
traderWgun
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very good observation as always. sometimes complex corretion looks like diagonals, in this case it's hard to say. As you mention, the subdivision is not ideal, but this is (in my opinion) one of the hardest pairs to trade so don't count anything out.
Todays candle looks bearish, so let's wait and see. 2.02 is not unlikely,
Good luck!
traderWgun
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I have covered my short at break even. It looks like we have completed wave XX and should see more upside before lower.
You must have just come back from a vacation ?
More great analysis and enticing trade possibilities.
I'm assuming you did not go with the ending diagonal
as it does not have much of a subdivision with decent 3-3-3-3-3.
However, it does point somewhat towards my anticipated entry around 2.0200.