We are waiting for the bearish wave to sell because we've been on the bearish trend.
So where is the begining of the bearish wave?
Last Friday's high(1.3812) might be it,
However, considering the correction wave between Daily4_1 and Daily4_2,which is ABC correction,
Daily4_3 and Daily4_4 would be 5 waves(rule of alternation).
I'm not sure yet if the bearish wave has begun or not.
Keeping the short position taken at Fib38.2, I'd wait and see how the price goes today.
If the last Friday's high is broken, the next good short entry point is Fib 61.8, around 1.3875, which there're some of resistance lines.
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So where is the begining of the bearish wave?
Last Friday's high(1.3812) might be it,
However, considering the correction wave between Daily4_1 and Daily4_2,which is ABC correction,
Daily4_3 and Daily4_4 would be 5 waves(rule of alternation).
I'm not sure yet if the bearish wave has begun or not.
Keeping the short position taken at Fib38.2, I'd wait and see how the price goes today.
If the last Friday's high is broken, the next good short entry point is Fib 61.8, around 1.3875, which there're some of resistance lines.
PLEASE DO NOT FORGET TO LIKE👍🏻 AND FOLLOW ME❤ IT MOTIVATES ME TO THE NEXT IDEA! THANK YOU 🎉
