USDMXN - One more push higher before sell off !
We might be in wave 4 of an impulse, playing out as a triangle, meaning we will have only one more push up to around 21 before selling hard.
This move to the upside is wave C of a zig zag wave (B) of an impulsive wave ((4)).
How to trade this ?
Wait for wave 5 to develop and terminate, then wait for a pullback in an impulsive manner for a lower degree wave 1 after which you can sell the pullback of that move, i.e wave 2 of that impulse lower.
This move to the upside is wave C of a zig zag wave (B) of an impulsive wave ((4)).
How to trade this ?
Wait for wave 5 to develop and terminate, then wait for a pullback in an impulsive manner for a lower degree wave 1 after which you can sell the pullback of that move, i.e wave 2 of that impulse lower.
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It's better to wait for wave (iv) to be completed because going long once the triangle ends does not give good enough risk/reward because stop should be below wave ((a)).
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Count negated
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*** Alternate count negated !
Main count here :
Main count here :
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