If you have been following this blog closely, you would have noticed that this pair has not yet reached the minimum projection level for wave 5 mentioned on 29th April ( read here) .
The wave 5 move started strongly expectedly didn't go
straight to hit 1.56s and below, which are the projected levels.
Presently, we have an abc 61.8% gartley zig-zag correction
pattern resting on a strong resistance and with D1 formed a pin and a doji
candles at this level, it's not poor thinking that Eurnzd might soon fall and
1.55s are the targets.
An aggressive trader might want to sell from here while a
conservative one would wait for a break of 1.5935 support formed by the up
trendline on 4H.
I will wait for my entry parameters before activating a sell
and take profits at 1.5780 and 1.5550.
Please let me know if this blog has been helping someone by your comments and you can also contact me if you need a trading partner,mentor or fund manager
E-mail-sanmiadeagbo@yahoo.comFacebook- sanmi Adeagbo
twitter- Forexelyte
Phone no: (234)08134820569
No comments:
Post a Comment