ux1077

ux1077

Impulse fail to break the top, so we still in a correction, with crossover in Hour 1 and Hour 4, I think we are looking at a regular flat pattern, however if it reversal and break the top, then this becomes invalid. Otherwise, we should see a five wave structure coming back down to around 1.1070.

ux1077 Updated 

A deeper correction is needed for continue uptrend, the correction we had is too small for the preceding impulse, this is my idea of what we might see next week short term wise. basically expanding flat pattern. Two target is the 127.1% and 161.8%, if you short this, I recommend you move your stop to the 127.1% target if it drops further. Trade at your own risk as usual.