Hey traders! As predicted by the wave count, we have a continued drop into the final ipulsive C wave of combination wave-(Z). I did not get the pullback I was looking for for that drop, so I sat it out and waited for another opportunity. Now that we have established potential first wave of the final impulse, this is our invalidation level and can be used as a SL. Any movement above this level will invalidate the trade and introduce uncertainty, therefor I will be OUT. Otherwise, I expect this to reach the crab/shark level. Trade is active immediately at market. Happy trading!
Trade closed: stop reached
Didn't see the swift impulse this trade was aiming for, however I', still upholding short bias on this pair. Instead of a 5 wave impulse, we're seeing more of a sideways correction as is common with FX. See the updated wave count here:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.