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we are now at the end of the second leg on flat pattern aiming the third leg which can be impulse or ending dialo as shown on chart before running down to C leg on bigger frame wait for a trigger from ur choice on 4h chart to go or more aggressive on 1 hour chart

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we are at the buttom of the second leg of the flat pattern of the correction of A wave likely to go now for the third wave of the flat pattern (5 waves long leg) before going down again for the B wave

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HAVE SCENARIOS AGGRESSIVE : SELL STOP UNDER PREVIOUS LOW ON 4H CHART CONSERVATIVE : SELL LIMIT AS SHOWN ON CHART Reminder : move stop lose after reaching half profit (to be considered as 1st safe target )

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elliot wave forming

blueshade Updated 

Looking ahead to the coming week, we have the inflation data and retail sales data from the US + 10 years note auction while we have a speech from Draghi and these are likely to bring in some volatility looking for magenta zone as action zone mid of the eek with major break or bonus will occur at arreas colored by yellow

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buy limit at 0.7310

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possible log trade

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on daily chart possible head and shoulders sell stop under 1.66370