EURGBP - Correction ending, get ready for a nice sell off!
We got a leading diagonal down followed buy current ABC correction.
We are now in wave C which is close to the 161.8% projection level of wave A.
A bit higher, we also have he 78.6% level, which is the last line of defense for bears,
if it breaks, there's a high chance bulls keep their momentum even longer.
Don't try to catch the top, that's foolish, best is to wait for a clear 5 waves drop.
If price grinds a bit higher in what seems to be an ending diagonal, that could give an even better R/R!
We are now in wave C which is close to the 161.8% projection level of wave A.
A bit higher, we also have he 78.6% level, which is the last line of defense for bears,
if it breaks, there's a high chance bulls keep their momentum even longer.
Don't try to catch the top, that's foolish, best is to wait for a clear 5 waves drop.
If price grinds a bit higher in what seems to be an ending diagonal, that could give an even better R/R!
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What do you think about this? Have any question?
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Just leave a comment!
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Looks like it's become a bigger ending diagonal than expected, which means bigger drop following it !
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Price came perfectly down from the expected zone.
A move below 8878 would indicate lower prices coming.
A move below 8878 would indicate lower prices coming.
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