haggaidavid94

haggaidavid94

Waiting for the 50%-61.80% retracement before looking for a possible move to the downside.

haggaidavid94

Still heavily bearish on the pair but patently waiting for the market to reveal it's hand before I trade.

haggaidavid94

Looking at how this pair has been moving since the open, even though it has gone on the direction of my original analysis, am seeing signs that shows that the move to the upside is not finished just yet so here is an updated analysis of my thoughts on the pair.

haggaidavid94 Updated 

On the 1hr time frame it seem like the pair has already finished the 5 waves move to the upside and now its on the way of doing a corrective move to the downside. What I'll be looking is a small retracement to the upward then enter to short the pair.

haggaidavid94

Waiting for one more push up to 0.78354-0.78500 to finish of the 5th wave for the C corrective wave move before a larger move to the downside.

haggaidavid94

Looking at the pair it shows that we've already done sub-wave A, B of the larger wave B to the upside and now in the sub-wave C, shows that we have already done wave 1,2,3,4, and now waiting to finish wit the 5th wave to the upside to finalize the corrective B wave of the larger cycle. So I'll most likely be looking for buying opportunities on the pair.

haggaidavid94

The pair seems to be on it's wave 3 to the downside, so after a wave 4 pull back I will be expecting to see further move to the downside.

haggaidavid94

At the moment the market seems to be in the 4th wave corrective, so the idea behind this is to wait for the 4th wave move to finish on the downside (potentially at around 38.20% Fib levels), and then ride the bigger wave 5 to the upside.