great analysis and look forward to more of this..thanks and thumbs up...
pip_drunk
⋅
i believe it will go upside !!!
pip_drunk
⋅
12.6000 shold be the target with stop as the low recently made ...
rv
⋅
its possible, and can you give your reasoning for that, maybe by a chart ?
pip_drunk
⋅
i never ever traded dis pair but i will try to explain y i think so...
reason 1
by look ov it its like 4th wave correction of impulse (as triangles only occur in 4th waves) , 5th wave still to come in te direction of main trend
reason 2
it looks like a barrier triangle not a symmetrical one.(in barrier triangles b and d terminates almost at same level) ,these trianles always breaks upside (i mean in direction of the barrier not opposite one)
reason 3
i learned it dat once price breaks out of trianngle it never gets back in it again , but i think in ur published case it did ,
rv
⋅
Fair enough. thats better. thks
Could be a triangle(abcde) in the B wave, as in ABC.
There are multiple pin bars at the resistance, below the Stop, on the Daily Chart.
'Never', sounds a harsh word...
If you are right congrats, if not, lets catch up on the next trade, nice talking to you. :)
pip_drunk
⋅
yes B-wave and 4-wave are triangles only ...
and sorry i didn't mean to be disrespectful !
rv
⋅
of course you were not. Thanks, for your constructive comment.