EURUSD SHORT AFTER COMPLETION OF EW 1-5

I'LL BE LOOKING TO SHORT WITHIN THE HIGHLIGHTED ZONE. TP AT THE GREEN TARGET LINE

REASON FOR THE TRADE (TECHNICALLY):

1) POTENTIAL COMPLETION OF LEG 5 OF EW WAVE COUNT
2) DESCENDING TREND LINE AND RESISTANCE CONFLUENCE

HAPPY TRADING!

Trade attivo

Commento:

Wave four on the chart was in anticipation of a 38.2% retracement of wave 3. However market reversed at a more shallower wave 4 at 23.6% retracement instead of 38.2%. My take profit on this short is represented by the new wave 4 which is at 1.19393

Trade chiuso: obiettivo raggiunto