Price reversed from wave 2 low and broke out of the descending trendline in a five-wave pattern in wave (i). The subsequent move which is unfolding as a zigzag pattern has the potential to find a bottom within the blue zone comprising the 61.8% Fibonacci of the impulse, a retest of the broken trendline, and wave c will be equal 1.618x wave a, at the same area.
If this count is correct, the invalidation level should remain intact, and price should advance higher in wave (iii).
What's your view about EURUSD? Kindly let me know your thoughts in the comment.
Thanks for reading!
Veejahbee.
If this count is correct, the invalidation level should remain intact, and price should advance higher in wave (iii).
What's your view about EURUSD? Kindly let me know your thoughts in the comment.
Thanks for reading!
Veejahbee.
