This pair is in ugly consolidation for two weeks with very low volatility. We know it: after a period of low volatility follows a period of STRONG volatility.
I have discarded the expanded flat scenario because of the choppy and overlapping price action.
Price is consuming time and that reminds me a triangle.
Thats what i'm considering seriously this alternate count: wxyxz correction with a triangle for X appears to be finishing.
We see price is at the E point of the triangle so its going to exploit very soon. Im opening short positions now because it could be too late tomorrow.
D1 chart count:
Regards
*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell. Most of this setups are for backtesting.
Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).
I have discarded the expanded flat scenario because of the choppy and overlapping price action.
Price is consuming time and that reminds me a triangle.
Thats what i'm considering seriously this alternate count: wxyxz correction with a triangle for X appears to be finishing.
We see price is at the E point of the triangle so its going to exploit very soon. Im opening short positions now because it could be too late tomorrow.
D1 chart count:
Regards
*****************DISCLAMER********************************************************************
This is just and idea, not a recommendation to buy or sell. Most of this setups are for backtesting.
Always do your own analysis before opening a trade.
Any respectful and constructive ideas are welcome (agree or disagree).