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Eurousd

EURUSD Wave Count: More Downside After Triangle BreakoutHey traders! Hope everyone has been taking advantage of these trending markets over the past couple of weeks! I've been busy with some side trading projects and am back with an updated wave count on the EURO. We are witnessing sideways corrective structure in what could potentially be a fourth wave symmetrical triangle. The 1H trend is down but we also have heavy long-term support below price that could keep the pair bouncing sideways for a couple of weeks before a strong bearish breakout into wave-5. I want to start looking for short positions in the heavy resistance zone where the 200SMA is confluent with potential triangle barrier, TWO unhit pivots and the center of a descending parallel channel. Stay tuned for some updates as we see the tide roll. Happy trading!
Short
by glennmercer
4
$EURUSD Wolfe Wave, Eyeing Point 5Hello Traders, Looking at the EURUSD pair we have a Wolfe Wave that just completed at point 4. Looking at the 1-4 line trajectory we can see that it has acted as an anchor throuhgout the formation of this Wolfe Wave. I'm looking at 5 and potentially 5' to complete. If we see completion at point 5 look for the 1-4 line as your exit target. If we make a lower AND hit the 5' line off of point 3 look for an exit at Geo's Off-Set rule at point 4. -Chartistry
by GWaves
8