Wave (4) is unfolding in a complex WXY pattern. What I see now is that the W wave was a and that we could possibly be seeing the formation of a contracting triangle in the X wave position. It’s still early in the formation of this possible triangle so until we see the leg C and D form, it can’t be confirmed. If we do see the legs C and D form, then I can say with a high degree of certainty that leg E will form and that will present us a nice trade opportunity. So the operative word here is: PATIENCE! This will be followed by the Y wave which should take prices even lower. Most likely down to the 1.33900 – 1.34000 level where it is the .786 retrace of the previous wave (3).
This analysis and many others are available for FREE on my website: efxselect.com. Registration is FREE.
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.
Though I may not post here quite as often like before, I do continue to post much more to my own Facebook group (where I can BAN any TROLLS!). So if you would like to continue to see more of my posts as well as some of my trading tips, join my Facebook group at: www. facebook .com/efxselect. If you desire to receive ALL my analysis on pairs I trade and cover as well as REAL-TIME trade signals, consider joining my private group and my members. You'll get REAL-TIME trade signals and analysis as the trade happens and discussions those trades live. Interested? Go to: efxselect.com for more info.
Website: http://www.efxselect.com to subscribe
Go to efxselect.com to subscribe and get these signals in REAL-TIME!
ANNOUNCEMENT! My website, http://www.efxselect.com is now ready to take members! Registration is FREE and by registering and becoming a member, you will get much more insights, charts, analysis and trades than I post here. You will have LIVE chat with me and other active members of the community there as well. Join and become an active participant and improve your trading skills! It's FREE! Go and sign up now while it's still FREE to join! Go to: www.efxselect..com. Do it now!