EURUSD-Wave ii) ended in a running flat and We are in wave iii) of 3) or C) Stop @ 1.2270 for TP @ 1.1600
1. I again look the wave it bounced from the low 1.1705 and i took first as a) wave and then there is a chance for WXY and one more high to 1.2320 for C) of Y) or b) or 2)is also possible in the previous trade plan.
2. But from the high and 1.2262 it looks like a impulse and ii labelled as wave i) and wave ii) looks like a a running flat and wave iii) started or will start soon.
3. But there is a invalidation and stop for this pattern found above the high....because in any conditions whether there is a b) or 2) as a positional view we are looking for c) or 3) wave and it have to start with 5 waves in shorter time frame.
4. So if already started the wave iii) not overlap the wave i) high so that is the STOP and invalidation for this bearish pattern.
5. Target i am looking for to break the previous low 1.1700 and the major support zone @ 1.600 to reach for wave iii).
DISCLAIMER : All labeling and wave counts done by me by manually and i will keep change according to the LIVE MARKET PRICE ACTION. So dont bias, hope on my trade plans...try to learn and make your own strategy...Following is not that much easy...I AM NOT RESPONSIBLE FOR ANY LOSSES IF U TOOK THE TRADE ACCORDING TO MY TRADE PLANS....THANKS LOT..CHEERS
Edited 10 Jun 2021, 00:09
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