Eur/Gbp
EG is the exact type of setup I like. LONG downward correction after strong move down with plenty of traders who don't understand waves and structure holding sells. I posted this last night, just thought I should better explain. It may pull down some, may take its time. But I bet it shoots up. It shouldn't break the 70-80% fibs at this point in my opinion, can go whenever it wants. Being EG it can create some crazy patterns, but I see very low probability at this point for it to sell down without coming up. I see a flat combo emerging. And don't sleep on UJ. Powell said US rate hikes even though other news negative, but consumer confidence at 10:00. Trading news is risky if you aren't experienced. The thing about UJ is, I was thinking and if UJ is in an uptrend (which keep in mind, we can't be certain) I doubt they would from larger structure letting people get in. It shot down and up very fast from my 1.236 extension of my 7 swing which was perfect (which is a fib measurement for a pattern the average trader would not even consider). When they do that, after breaking a major low like that it usually means they will continue. Keep in mind you are trading forex and are therefore gambling so it is on you what you do with this information. I could be a complete idiot just making stuff up.
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