So here I am now updating what I think is going on here. I still do think that this pair is going to be descending in a wave ( iii ) just not in the way I thought. It is still in a descending and to complete the wave 3. Right now, it seems to be ascending in a continuing wave iv that is heading back up to the upper TL of the ED.
There was a pattern that completed and is what fooled me! Prices broke down out of that but ended up being a false break. It quickly broke back up and through the and headed north where it is now. Completion of the patterns profit target puts it right at the upper TL of the ED. In addition, that completion is also a pattern.
Of course, the POTENTIAL I talked about before is still valid and is still awaiting completion in which a descent in a wave v after completing the wave iv would complete the wave 3 and the .
MY TRADE PLAN
I am now waiting for prices to reach that upper TL and complete the pattern and the patterns profit target. Then I will be looking for a SELL opportunity.
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