That 5waves up above, is the last strike up in this 24 pip range bar chart, which looks like the 5th wave up in what I am calling 'a', with that retracement angle just below price now.
Tuesday 26 November 2013
EURUSD
Price has made it back to the blue dashed line as suggested this morning, in a retracement formation on this 4 pip range bar chart. The question is however, whether this is the first part in a bigger pull back, which I believe it is. I am staying net short and see how this afternoon goes.
This second chart shows the momentum study only just getting going after that 5 waves up on the 12pip range bar chart.
That 5waves up above, is the last strike up in this 24 pip range bar chart, which looks like the 5th wave up in what I am calling 'a', with that retracement angle just below price now.
So overall, I am looking for a 'b' wave down of which this bit so far today, looks like 'a' with 'b' & 'c' to go. We shall see.
That 5waves up above, is the last strike up in this 24 pip range bar chart, which looks like the 5th wave up in what I am calling 'a', with that retracement angle just below price now.
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