Its in continuation to the linked, wave 3 is over and wave 4 is going on.
Look out for bearish candlestick patterns in at least 4H chart to spot the end of wave 4 and to enter short in wave 5.
Wave 5 shall target 100.75 to end the whole correction.
It's wave 3 or C
Based on existing momentum to the sell side, it is expected to be a 5 wave move. Minor wave 3 in Major wave (3 or C) within the box is expected to end at 100.53.
Short positions can be expected at 101.5526 where wave 4 is expected to end.
Wave 5 shall target 100.53 and 99.90.
Self confirm for completion of wave 4 at 101.5526. As wave 2 was a...
Pair has been in an uptrend and might breakout in the upper direction. It has reached the lower trendline and looks to take support and undergo a reversal rally.
Risk Reward Ratio - 1:1
SL is placed below previous swing low, 200 EMA, lower trendline and multiple support zones.
Entry - 102.4
Target 1 - 103.765
Target 2 - 105
SL 1 - 101
SL 2 - 99.8044
Risk Reward Ratio - 1:1
The Pair has reached the lower trend line and looks for a reversal in the short term, The target is place around the near term resistance. The SL is place around near the recent swing low and 200 ema.
marked a longterm channel
currently trading near 200 EMA
Any confirmation of up move on smaller timeframe will give an opportunity to enter on buy side.
This is just for educational purpose.
Monthly chart indicates that wave 5 is in going on.
Wave 5 is expected to be a 5 wave move out of which wave 1 and 2 are over.
Wave 3 is in progress.
Major support and resistance zone as indicated in chart.
Weekly chart indicates wave 1 in 5 is a 3 wave move (indicated by ABC) and accordingly wave 3 in 5 is also expected to be a 3 wave move
Wave 2 is a zigzag...
Weekly chart:
Weekly chart implies that wave 3 of a 3 wave move is in progress. Wave 1 and Wave 3 of 3 wave move are highlighted in boxes.
Wave 1 of 3 in purple box have an internal 3 wave movement and accordingly, wave 3 of 3 in blue box is also expected to have 3 wave movement.
Daily chart: Analysis of Wave 3 of 3 in blue box
Wave A has an internal 5 wave...
Monthly chart indicates that the current trend is correction to the previous down move.
The C wave is about the end possibly before 102
Cautiously Long as it might reverse any time and that's how a quality of trader shall be :)
