I was trying to construct a wave structure for the current downtrend and was so unhappy that I missed the trade from the top - after a year-long+ consolidation!!! It happens so fast that at first you do not believe that IT STARTED.
The whole trick was with an extended 5th wave, that has completed that long-lasting consolidation and price started falling down like crazy - despite the fact that OIL was falling. That's a trick, sure
For those who trade this pair, I think that the most powerful moves are over - each of them more than 200 pips.
That's a criteria for third waves, that's why I drafted my wave structure as it is on the screen.
Now it's high time for a couple of 4th waves, therefore a good time for those who like to trade in corrections. They say, that it is a suicide to trade corrections, but if you take reasonable risks, there are lots of trade opportunities inside the correction on lower timeframes
Have a nice week-end and trade carefully)
The whole trick was with an extended 5th wave, that has completed that long-lasting consolidation and price started falling down like crazy - despite the fact that OIL was falling. That's a trick, sure
For those who trade this pair, I think that the most powerful moves are over - each of them more than 200 pips.
That's a criteria for third waves, that's why I drafted my wave structure as it is on the screen.
Now it's high time for a couple of 4th waves, therefore a good time for those who like to trade in corrections. They say, that it is a suicide to trade corrections, but if you take reasonable risks, there are lots of trade opportunities inside the correction on lower timeframes
Have a nice week-end and trade carefully)