It seems we have 2 probable trades on this pair.
One is a BUY and another is a SELL.
Based on the wave count, we are in the middle of a wave 3 minor count.
However due to the nature of this pair, and looking at previous structure, it seems there is a very high probability that a major retracement will occur before a very strong push upwards starts.
Therefore I have set up an IF/THEN trade setup where:
1) SETUP #1 will be a SHORT to around the 0.8950 price range and then move up to the end of wave 3 minor.
OR
2) SETUP #2 will be a LONG to the end of wave 3 minor.
In both of these setups, extreme caution is required.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
Please do not trade this chart if you do not have your own strategy. Trade only with your own strategy.
Some very wise words: Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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One is a BUY and another is a SELL.
Based on the wave count, we are in the middle of a wave 3 minor count.
However due to the nature of this pair, and looking at previous structure, it seems there is a very high probability that a major retracement will occur before a very strong push upwards starts.
Therefore I have set up an IF/THEN trade setup where:
1) SETUP #1 will be a SHORT to around the 0.8950 price range and then move up to the end of wave 3 minor.
OR
2) SETUP #2 will be a LONG to the end of wave 3 minor.
In both of these setups, extreme caution is required.
----------------------------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
Please do not trade this chart if you do not have your own strategy. Trade only with your own strategy.
Some very wise words: Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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