EUR/USD >> MARCH 20 << BEARS MAY HAVE TO WAIT
As I mentioned in my previous analysis, wave 5 of 5 has ended. Then followed a 12345 to the downside which is wave 1 of the A of ABC. Corrections are bitches. I was anticipating a small correction for wave 2 of A but the market once again showed who is the boss. A potential zigzag or flat is still developing so the bulls are still in control. The green box may contain their target. Conservatively, I'll patiently wait to pull the sell trigger at the pink dotted line to ride the last part of wave 3. This strategy increases the odds of a successful trade.
Remember, my wave targets and channels are estimate target levels and are based on Fibonacci and Elliot Wave Principles. They are subject to possible adjustments. Timeframe was not taken into consideration when projecting targets.
DISCLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.
Remember, my wave targets and channels are estimate target levels and are based on Fibonacci and Elliot Wave Principles. They are subject to possible adjustments. Timeframe was not taken into consideration when projecting targets.
DISCLAIMER: THIS IS NOT PROFESSIONAL ADVICE BUT MY PERSONAL REFLECTION OF THE MARKET.
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