The main chart above, I am showing a POSSIBLE POTENTIAL . I label it as POSSIBLE because as of yet, the C point is not set. It could still fall a bit more. But for the to hold, prices can't fall past 0.68619. Or else the will be void. That DOES NOT mean that if that happens, then wave 4 is also void. Even if prices were to fall more, it is still the ending of the wave (v) of 3 happening. It's would be just a matter of where it ends and wave 4 begins. Also notice that the would complete just at or near the target line between 72-73 cents area. See below charts for more on the pattern.
OVERVIEW - Monthly Chart: Still Bearish
This is the MONTHLY chart I posted 10 days ago. Nothing has changed really.
Here it is with updated price action.....but I removed the pattern as prices fell past the CD completion
WEEKLY CHART - Breaking Down Wave (B) With MORE Downside To Come. Wave 3 Finished
DAILY CHART - Wave (v) wave count in + . Wave 4 Possible Target
CONCLUSION AND MY TRADE PLAN
Overall, I am still VERY on this pair and am still expecting another 1000 pips to the downside all the way to the 60 cents level where on the MONTHLY chart, I show a POTENTIAL to complete. That is also where there is some MAJOR STRUCTURE Levels. But for now, I am taking a LONG position now on this pair as I am expecting that wave 3 is done and wave 4 up will commence. But I will only ride it as far as around the 72-73 cents level at the targets and the completion should the C point hold.
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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