EURUSD BULLISH BIAS BUT CURRENTLY IN A CORRECTIVE PHASE
F THE COUNT IS RIGHT THE MOTIVE PHASE (WAVE 1 TO 5) THAT STARTED ON NOVEMBER 4 FINISHED IN JANUARY 6.
NOW WE SHOULD BE IN A CORRECTIVE PHASE AND IT WILL BE DIFFICULT TO FORESEE HOW IT WILL FORM BUT THE PRICE COULD RETRACE AT AROUND, 50% OF WAVE 1 TO 5 (AT AROUND 1.20067 / 1.9751) WHICH ALSO MATCH TO THE EXTENSION 0.618 BETWEEN WAVE 5 / A AND B.
FOR A POSSIBLE BUY SCENARIO WE WILL HAVE TO WAIT FOR THIS CORRECTIVE PHASE TO END AND THE MARKET TO START INDICATING A CHANGE OF STRUCTURE.
BUT FOR A SHORT TERM SELL ONE COULD WAIT FOR EITHER A RETRECMENT OF THE MINUETTE 1 STILL IN PROCESS OR AT THE END OF MINUTTE 4 TARGETING MINUTE C. BUT BOTH TOO RISKY IN MY OPINION
NOW WE SHOULD BE IN A CORRECTIVE PHASE AND IT WILL BE DIFFICULT TO FORESEE HOW IT WILL FORM BUT THE PRICE COULD RETRACE AT AROUND, 50% OF WAVE 1 TO 5 (AT AROUND 1.20067 / 1.9751) WHICH ALSO MATCH TO THE EXTENSION 0.618 BETWEEN WAVE 5 / A AND B.
FOR A POSSIBLE BUY SCENARIO WE WILL HAVE TO WAIT FOR THIS CORRECTIVE PHASE TO END AND THE MARKET TO START INDICATING A CHANGE OF STRUCTURE.
BUT FOR A SHORT TERM SELL ONE COULD WAIT FOR EITHER A RETRECMENT OF THE MINUETTE 1 STILL IN PROCESS OR AT THE END OF MINUTTE 4 TARGETING MINUTE C. BUT BOTH TOO RISKY IN MY OPINION