EURUSD Potential 5th Wave Short on 5min timeframe

After a nice bearish move on EURUSD our Elliott Wave Indicator Suite has labelled the Elliott Wave Count and our Probability pullback zones. The wave 4 found resistance in our Red zone, which represents a 75% probability that this Forex pair will go onto to hit our Automated 5th Wave target zone. Included in the indicator suite are also, our special Elliott Wave Oscillator which came close to breaking the rules and if indeed the oscillator breaks the 140% line then the trade is invalid. We also have our Special False Breakout Stochastic which helps identify strong trends in either direction. The when the wave 4 pulls back against that trend and crosses in the opposing over bought/sold zone then the probability it wants to return to strong trend is high.

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