Hi All,
Great to finally see EUR make some moves over the past couple of weeks and great to see Macron win as the world doesn't need more 'Trump like' people in office - (Thats just my opinion)
Anyways, the count I had in my previous post is on track but the 5th wave extended further than anticipated but that just means extra pips were made. Now the impulsive moves has finished, I am looking for a corrective structure to close the gap before EUR keeps surging to the upside.
From the top:
Wave A: I have seen a ZZ structure down which could be (a) of A or A of a bigger ABC (time will tell)
Wave B: This will be the next move and will indicate which of the possible corrections will play out from what I mentioned above but I am forecasting a Flat based on rule of alternation.
Forecast Wave C: The key thing to look out for is that C wave extension should close the gap which is a full retracement of the current impulse at 61.8% as labelled - once this happens, I am looking for a long position.
Now it is a waiting game to find a short entry as there is about 250pips on offer.
Let's see what this week brings. :)
GL
Great to finally see EUR make some moves over the past couple of weeks and great to see Macron win as the world doesn't need more 'Trump like' people in office - (Thats just my opinion)
Anyways, the count I had in my previous post is on track but the 5th wave extended further than anticipated but that just means extra pips were made. Now the impulsive moves has finished, I am looking for a corrective structure to close the gap before EUR keeps surging to the upside.
From the top:
Wave A: I have seen a ZZ structure down which could be (a) of A or A of a bigger ABC (time will tell)
Wave B: This will be the next move and will indicate which of the possible corrections will play out from what I mentioned above but I am forecasting a Flat based on rule of alternation.
Forecast Wave C: The key thing to look out for is that C wave extension should close the gap which is a full retracement of the current impulse at 61.8% as labelled - once this happens, I am looking for a long position.
Now it is a waiting game to find a short entry as there is about 250pips on offer.
Let's see what this week brings. :)
GL
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