Hello everyone this setup is completely based on structure. Well its not really a trade setup that i am posting but rather two possible scenarios on this pair.
First scenario is the one shown above, where we have a major impulse going up forming a bullish triangle. If this is the case we should still have one more wave down since it completed its D wave at the top. The second scenario is shown below
First scenario is the one shown above, where we have a major impulse going up forming a bullish triangle. If this is the case we should still have one more wave down since it completed its D wave at the top. The second scenario is shown below
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The second scenario we have the impulse coming from the upside forming a flat abc. If this is the case then we should have the impulse has started to the downside and should take AU below the 7100 area unless we have the flat turn into a bearish triangle
