I'm in a short position currently. Target one has been reached and I plan on riding this correction down the rest of the way. Stop is currently breakeven! Cheers
Price has put in a possible turnicated 5th leg in. Therefore, I expect more downside in price unless this is just a flat correction. Shorts will be invalidated if price breaks the high. Happy trading!
Possible 5th wave is beginning to set up on the H1. There is a Weekly channel intact so we can assume that most retail traders have their SL above the previous high. Therefore, I wouldn't be surprised if the whales decided to go on a stop hunt to collect stops and grab liquidity before the big drop begins.
I'm expecting some more downside on this pair. It has jus completed a 5 wave cycle and is in the process of finishing the B leg. Therefore, shorts are possible all the way down to C where I expect for us to see a possible bounce higher.
