As per mentioned in previous idea, cycle ended on 19003/2018 low at 0.35108044. Since then, ZRXUSD bounced in a 5 waves move (confirmed by RSI divergence), therefore I see an opportunity to go long after the correction of cycle from 22/03/2018 high is completed in a 3 waves sequence.
Stop will be below the 161.8% extension even though invalidation level is 0.351080, but if it extends, it can mean that we have a 5 waves down - calling for another 5 waves move after bounce - or that a double correction is developing.
Stop will be below the 161.8% extension even though invalidation level is 0.351080, but if it extends, it can mean that we have a 5 waves down - calling for another 5 waves move after bounce - or that a double correction is developing.
Order cancelled:
First 3 waves down truncated at 61.8%-78.4% extension. From there bounced in 3 waves. Expect double correction lower to buy 100% if reached, stop below 0.3510.
Will close this Idea and link it to new chart
Will close this Idea and link it to new chart
