EU H4 I'm looking at the potential of a expanding flat in B with the next impulse to the upside wave C (this setup will be negated if wave A low gets broken)
End of wave C in B has not been confirmed, wait for TL break and bull flag for confirmation!
EU H1 we have 5 down with bullish divergence
Before we can trade this potential setup you need to go down to a lower TF, wait for TL break and bullish flag to confirm the TL break and more upside to come ( buy the breakout of flag)
Also take a look at my previous idea on DXY H4, If DXY plays out EU H4 has the potential to play out!
Wait for TL break and bull flag on the lower TF before buying (Impulse up and bull flag to confirm more upside). Trade what you see not what you think!
Be aware of news. NFP coming out on Friday
Commento
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We got impulse up on M15, wait for price to break below yellow line then you can take the TL break of flag against the low, move to BE when price breaks the top of the impulse
Commento
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Looks like we got break out of a contracting flat, 1st tp 100fib, and hold rest for longer term H4 expanding flat TP
just need some good news for the eu to help it along
Boon2
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@matthews41, Yes good EU news and bad US news may help it along but I think the hole move is a correction from the impulse down from the start of the year so it will be more to do with institutional traders, hedge funds taking out the retail traders shorts and adding to their shorts for longer term downside
Carry trade pendulum has shifted significantly in recent times