Hi traders,
Last week EU started impulsive up as I’ve predicted in my outlook but it could not break the highs and on Wednesday it dropped.
Now it could be that this was a leading diagonal (orange wave 1) and price has now finished wave a (grey) of wave 2. In that case next week we could see a correction up and another impulse down to finish wave 2 (orange).
Or the last move is wave c (blue) of a bigger wave 4 of the leading diagonal and we could see another impulse wave up.
In both cases I expect a move up to minimal the 4H FVG (light blue box).
Let’s see what the market does and react.
Trade idea: Wait for a change in orderflow to bullish and a small correction down on a lower timeframe to trade longs.
If you want to see more from my analysis, please make sure to follow me, give a boost or respectful comment.
This shared post is only my point of view on what could be the next move in this pair based on my analysis. If you don’t agree, that’s fine but I don’t need to know it.
Don’t be emotional, just trade!
Eduwave