This is an update for my previous idea:
We have now completed five waves to the downside for wave (c)
within a complex correction. Price has reached equal legs
for (w)=(y) and wave c extended 1.382% of wave a.
Now, we should see a bounce, as price stays above 1.0560 (where
wave (c)=1.618*(a). If this level is breached, we are most likely doing
an impulse).
A break above wave (x) high (=1.10515) would confirm that a bottom is in place
and we should see new highs in this pair.
Follow all my demo trades at www.myfxbook.com/mem.../tlkemmy/demo/854232
and follow me on twitter for intra-day updates twitter.com/atliveanner
Visit me at: Traderwgun.com for more in depth analysis.
Good luck!
We have now completed five waves to the downside for wave (c)
within a complex correction. Price has reached equal legs
for (w)=(y) and wave c extended 1.382% of wave a.
Now, we should see a bounce, as price stays above 1.0560 (where
wave (c)=1.618*(a). If this level is breached, we are most likely doing
an impulse).
A break above wave (x) high (=1.10515) would confirm that a bottom is in place
and we should see new highs in this pair.
Follow all my demo trades at www.myfxbook.com/mem.../tlkemmy/demo/854232
and follow me on twitter for intra-day updates twitter.com/atliveanner
Visit me at: Traderwgun.com for more in depth analysis.
Good luck!
