The EURUSD is in a three wave pattern higher for wave E in this daily triangle consolidation. We are most likely close to the high for (a) and after a wave (b) consolidation we can buy EURUSD again for wave (c) higher. So far all wave 'b' consolidations in this triangle were relatively deep and we can therefore also look to short once wave 'a' is in place.
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So far all wave 'b' consolidations in this triangle were relatively deep and we can therefore also look to short once wave 'a' is in place. We see the anticipated move lower and if wee see a consolidation by means of a bear flag we can sell the EURUSD once again. However I still favor a leg higher to complete wave C of wave (E). Only a break below 1.085 indicates the daily triangle consolidation to be over.
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sketchmaster
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So, is it possible, that the D wave of this triangle is over (without getting closer to the bottom edge of the triangle)?
TimStuyts
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hello Sketchmaster, I think wave E is in progress at the moment. Let's see whether we get a wave 'b' of wave E consolidation.
sketchmaster
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ok, thank you a lot, Tim. When is the membership going to be ready?
TimStuyts
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That will be this month, but I will host a free webinar with my team and notify all my followers. Safe trades!