The drop from .9157 was impulsive and in 5 waves. We have now recovered in 3 waves, so the odds is that we will see more downside.
Price needs to take out .9005 (look below to see why) to confirm that the market have indeed completed a 3 wave sequnence to the upside. As long a price is above .9005 there is a chace that the 5 waves decline was a wave C in a flat (look below for the alt. count).
Good luck!
Comments
traderWgun
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The flat idea is invailded, Looks like we are in a expanding diagonal that
bullish above 0.87969
traderWgun
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The move so far hasn't been very impulsive, which makes the the alt. count more plausible.
The USD index is more clear, and it favors the flat count
My best count is that the move to .9080 was a leding diagonal wave a or 1. That means
that USDCHF should remain bullish above .8902.
At this current moment, only a break below .8902 would put the main count back into play.
traderWgun
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And this is the bigger pic on EURUSD (inverted USDCHF)
traderWgun
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alt. count suggest the market did a flat and should see new highs above .9157.
bullish above 0.87969