We have now completed five waves to the downside for wave (c) within a complex correction. Price has reached equal legs for (w)=(y) and wave c extended 1.382% of wave a.
Now, we should see a bounce, as price stays above 1.0560 (where wave (c)=1.618*(a). If this level is breached, we are most likely doing an impulse). A break above wave (x) high (=1.10515) would confirm that a bottom is in place and we should see new highs in this pair.
is this still valid or you are buying the dip in this pair now?
traderWgun
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This idea didn't suggest we where going to see new lows. this idea suggested that we MIGHT get new lows,
but after this impulsive move it is looking unlikely.