Expecting a short term bounce. Entry possibilities at red zones. Take Profit at Green Zones.
Background: I am a Dollar bull and Euro bear. Until the ECB starts talking about paying interest, or FOMC cuts rate forecasts, I will be looking for shorts.
My EU shorting adventure began in early 2018 while looking for a top around 1.2500
As that top was forming, I saw the Fibs giving me some clues for down move to start
Once it started dropping, I fined tuned the Fibs and EW count to arrive at 1.1500 ad mid target, and 1.070 as final target
Which brings me to the current plan, to look for a bounce to short again.
I will try to post updates if and when price reaches my zones.
Komentarz
⋅
Nice price action since this Idea was posted My wave count was off a bit, but the expected zones were perfect.
Closer inspection of my Resistance zones and observations
I found the fib of Friday's leg up and it points to more upwards action. I will work on a new plan based on these findings.