Head and shoulders/ Elliot wave Bearish move
First of all I am not an Elliot wave guy, so maybe there is something wrong ?!
The reason I don't count the wick on the second move is because It was news event driven, I was there and I saw what happend and I don't think there is something sugnificant there. If we push into the 1.1100 level and retrace to the 1.12's there will be a bearish head and shoulders and if rejection is strong I may short as well. Finally if we go back into the 1.09500's a good buying opportunity may present itself, since we have plenty of support there on the daily and the elliot wave move will be completed as well.
The reason I don't count the wick on the second move is because It was news event driven, I was there and I saw what happend and I don't think there is something sugnificant there. If we push into the 1.1100 level and retrace to the 1.12's there will be a bearish head and shoulders and if rejection is strong I may short as well. Finally if we go back into the 1.09500's a good buying opportunity may present itself, since we have plenty of support there on the daily and the elliot wave move will be completed as well.
Ordre annulé:
Setup failed. Entry was not triggered. CD Leg did not complete.