EURUSD Reversal Playbook
As expected. EURUSD push down to test the previous wave 3 low and then sharply reversed. In my book, this is more than likely the pivot of the larger degree wave (C). However, since the 50% retracement of the entire rally of from the decade low is not far away. It is wise to at least have a backup plan. The market often behave tricky around these huge 50% level. It might eventually test it or it might never touch it since this is indeed a wave II pivot of the longer time frame.
So the MAIN COUNT is in GREEN, the secondary count is in BLUE which is a choppy decline toward the 50% line, the minor count is in RED which is a sharp retest after we made a failed rally attempt.
Despite being confident that this is the end of wave (C), it is better to keep in mind that the market might become polarized around the wave 4 high we just made.
So the MAIN COUNT is in GREEN, the secondary count is in BLUE which is a choppy decline toward the 50% line, the minor count is in RED which is a sharp retest after we made a failed rally attempt.
Despite being confident that this is the end of wave (C), it is better to keep in mind that the market might become polarized around the wave 4 high we just made.
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