Pair has been in consolidation for 3 years plus, in what looks like a triangle wave 4 ( Cycle degree) which is most likely completed.
If this count is correct, then we should expect pair to trace lower prices towards shaded rectangle. My plan, sell rallies
If this count is correct, then we should expect pair to trace lower prices towards shaded rectangle. My plan, sell rallies
Note
We have since broken out of the triangle consolidation. And we have a clear 5 waves down to the Dec 2018 low as primary wave 1 . The rally since Dec 2018 is corrective and most likely complete as primary wave 2. This suggests more down side at increased momentum. Keep an eye on this one
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.