The pair has just completed wave A of the larger 5 Waves. the movement up is temporary long positions by the smart money who are willing to risk part of their capital to create liquidity for the next move towards wave C. This then means that up movement is creating wave B which will see it turn around between the 50% or 61.8% retracement of the Fib.
For now, we will look for a nice place to place our long position but for a short time. Then look to sell once the price hits the imbalance zone.
After this wave is move, we then expect a hug drop to 161.8% extension of wave A to complete wave C before another uptrend can begin.
As always trade smart with proper risk Management.
Cheers!
For now, we will look for a nice place to place our long position but for a short time. Then look to sell once the price hits the imbalance zone.
After this wave is move, we then expect a hug drop to 161.8% extension of wave A to complete wave C before another uptrend can begin.
As always trade smart with proper risk Management.
Cheers!
Trade Smart. This pair is in a long term sell. so when you get shorting opps, go for them