The last up wave (1) ended in what seems to be a leading diagonal so after this possible sharp ABC zigzag correction which we might be seeing on the chart, the pair might resume it's uptrend and start a wave (3) up, possibly at the zone marked in blue on the chart (fib, channel and harmonic pattern confluence).
Tight SL below the channel trendline and fib levels, 3 targets based on fibonacci and previous structure. If it takes off from there and we see signs that it could indeed be the start of a wave (3) up then the targets can be adjusted and placed considerably higher!
Tight SL and good money management will protect me in case we get a sell-off on this pair (the ABC correction could still turn into a new 5-wave impulse structure (1-2 complete instead of AB, possible 3 forming instead of C in which case the trendline will likely break).
Komentarz
⋅
Currently watching PA before I enter...
Komentarz
⋅
Didn't enter yet, still holding on to my previous short... Looking at this now:
Komentarz
⋅
Still no go, might be turning into a wave 3, trendline being broken...
Komentarz
⋅
Without the spike...: Will wait for confirmation...