I've tracked 2 X triangles with this pair and now trying to find an entries.
1) On a larger timeframe, a triangle in wave 4 if a bigger impulse with wave E of the triangle complete - please see below 2) Of the wave E of the bigger triangle, I have also seen yet another triangle in wave 4 of C of the bigger wave E of the bigger triangle.
Looking for an entry to go long as EUR/USD also looks long so this pair should correlate with the EUR demand so watch this pair closely.
Happy Trading
Don
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Quick update:
This pair is long for sure as I've spotted an ending diagonal to finish the 5th wave impulse then followed by the impulse up.
Happy Trading
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As always, trying to pick a turning point is hard as we've seen yet another low. However, this count is still valid and I am still looking at going long due to the 2 X triangles.
In addition, there is a gap yet to close at 8550 so a move up is imminent.
Please see the update below and looking for a long entry now.
Don
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Quick update:
This pair is a very frustrating pair to say the least but once it does move, amazing pip gains can be had.
In terms of the past 2-3 days, there has been a never ending buying for GBP which has been annoying slow, sideways, and not many pips to the downside - this is a classic characteristic of an ending diagonal.
The good news is that it look finally set to move to the upside. I am finally looking to put a buy order in at the wave 4 structure with the aim that this will make a new high. let's see how this pans out with the round 1 of the French elections on Sunday.
Happy Trading!
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Great Impulse up as predicted - Long entry triggered!
happy Trading all!
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Count invalid - working on a post analysis as triangle count is no longer in play.