Our stance in bearish with this pair and a lower low is expected to be produced. However a trade set up has appeared for an entry into leg C. Elliot wave theory is exhibited very clearly here. Enter with caution as this is a counter trend trade
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Enter with caution..
when you enter 20 pips of profit, please put your SL to break even. Should be 10-15 pips profit now
50 pips in profit...I am going to close one position and leave the other one running with SL @ breakeven. This retracement can reach 1.85000
Now then...price seems to be forming a bullish flag on this time frame. It is common to see a break of trendline and to see the price consolidate along it for a while before making its next move...I would like to encourage a discussion on this page as to the next move for this pair