Price action throughout the day has given away some clues as to what we could be seeing here.
Look for the first 5 Waves up for Wave (A) and then by the time the FOMC meeting occurs we should have a pretty good setup for Wave (C).
In the video I explain the thinking behind this, I believe we are in Wave 2 and may very well see this Wave B expand to the upside.
1.08531 is the line in the sand and I am using this as a stop level but if it is broken without going much higher then the last high would become resistance.
Summary: Short term long position unless we see a break of the level mentioned above.
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
Look for the first 5 Waves up for Wave (A) and then by the time the FOMC meeting occurs we should have a pretty good setup for Wave (C).
In the video I explain the thinking behind this, I believe we are in Wave 2 and may very well see this Wave B expand to the upside.
1.08531 is the line in the sand and I am using this as a stop level but if it is broken without going much higher then the last high would become resistance.
Summary: Short term long position unless we see a break of the level mentioned above.
Remember to use Disciplined Money Management Principles to ensure longevity as a trader.
If you don't know the long term pattern shouldn't you be doing your research instead of just following the crowd?
Just remember: I am not a financial adviser; I suggest using this only as a guide. Always do your own research.
***AriasWave is not the same as Elliott Wave so your counts may differ to mine if you happen to use it.***
