Short potential wave 5

Price looks like completing a 5 wave impulse down to the 1.02-1,01 area. (This is my perception of the wave count shown in chart) Looks to be setting up a corrective wave 4 in the form of a triangle pattern. An aggressive trade could be to sell at point e but the more conservative entry is to enter on the break of the low of d. I will update in post if pattern completes and a entry is taken.

Commentaire:

stop hit. looks to be making strong move up here.

Commentaire:

Reversed back down. It's common for D and E to over shoot the pattern.... Considering if the updated point D is broken I feel it would continue lower to original target level.

Commentaire:

Reading the trend is one thing but extracting profits safely is another will have to wait for target then look at long opportunities