We have a nice impulse down, followed by a consolidation. It should come with another impulse down to visit the low again. Wait for the break of 108.6 and when a downside signal is there, time to short. Nice play, low risk.
CHART COLORS: GREEN = WEEKLY & GREATER ---- BLUE = DAILY ---- PINK = H4 ---- PURPLE = H1 CHART LINES AND ARROWS: SOLID = PAST MOVE ---- DOTTED = ANTICIPATED MOVE MY TRADING STYLE I took a lot of time learning Elliot waves and it changed the way I look at charts. It’s much clearer when you know where the market is potentially going. I don’t believe in moving averages theories, candle pattern or other “magic” indicators. I only need one to see divergences. If you trade the “patterns” like “head and shoulder”, “double bottom” or everything else, it’s OK with me because most of the time it fits in the waves count. The hard part is to catch the strong moves, it’s easy to get lost in consolidation. My way to do is to analyse many timeframes, in a daily consolidation we can catch strong moves in H4 or H1. Same in weekly consolidation, strong move in D1. NOTE I do not give advice to buy or sell. I just want to document my journey and interact with other traders. All the levels mentioned are approximative, it can be higher or lower. I am often wrong but I try as hard as I can to cut the losses quickly. You can reach me on social media, the one with the bird, I am marttrader!