Euro / U.S. DollarShort
EU is ready to drop
Hi traders,
Last week EU made a bigger ABC pullback (orange) to the 38.2 fib retracement of the last impulsive wave.
It's clear that it is a correction and not a leading diagonal. Price broke structure but didn't close above it, so the swing low gets weak and I expect it to break.
Last Friday it started the drop already and changed the orderflow to bearish.
I don't expect it to go up once more into the higher Daily FVG's.
Next week we could see a small correction up and a big drop to break the swing low. After that price could drop to the lower Daily FVG to finish wave 5 (black).
Let's see what the market does and react.
Trade idea: Wait for a small correction up on a lower timeframe and trade shorts.
If you want to see more from my analysis, please make sure to follow me, give a boost or respectful comment.
This shared post is only my point of view on what could be the next move in this pair based on my analysis. I do not provide signals.
Don't be emotional, just trade!
Eduwave
Last week EU made a bigger ABC pullback (orange) to the 38.2 fib retracement of the last impulsive wave.
It's clear that it is a correction and not a leading diagonal. Price broke structure but didn't close above it, so the swing low gets weak and I expect it to break.
Last Friday it started the drop already and changed the orderflow to bearish.
I don't expect it to go up once more into the higher Daily FVG's.
Next week we could see a small correction up and a big drop to break the swing low. After that price could drop to the lower Daily FVG to finish wave 5 (black).
Let's see what the market does and react.
Trade idea: Wait for a small correction up on a lower timeframe and trade shorts.
If you want to see more from my analysis, please make sure to follow me, give a boost or respectful comment.
This shared post is only my point of view on what could be the next move in this pair based on my analysis. I do not provide signals.
Don't be emotional, just trade!
Eduwave
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💯 Learn my strategy with my new ebook The holy grail of trading: eduwavetrading.gumroad.com/l/theholygrail
🔥 Other (free) products: eduwavetrading.gumroad.com
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