After a sharp move the pair reached it's 50 % fibo from the prior wedge ,clustered with a strong support level 1.2950
The prior wedge's third wave was the shortest ,yet the price bounced from the exact ending diagonal target
The bulls reaction still weak , we can expect a time correction rather than price correction .
In both ways ,selling short after breaking 1.2950 targeting 1.2850
The prior wedge's third wave was the shortest ,yet the price bounced from the exact ending diagonal target
The bulls reaction still weak , we can expect a time correction rather than price correction .
In both ways ,selling short after breaking 1.2950 targeting 1.2850
Comment:
The time correction was expected but this is too long and too dangerous ,the market may move randomly ,hitting every logical stop order,(minimize contracts size and put your stops upper than usual )still heading down for me.
Trade closed: target reached