#Bearish scenario: - Big triangle ABCDE is ongoing since 13rd Mar. 2015. - Wave {D} would be zigzag or double zigzags. - If wave {D} is single zigzag, the correction by wave 2 of C is in progress. - If wave {D} is double zigzags, downward (Y) wave will start after the correction by wave (X) . - Target price is around 1.06 at the lower dotted line. - Invalidation price is around 1.143 (the high of 24th Jun.: Brexit day).
#Bullish scenario: - Flat ABC is ongoing since 13rd Mar. 2015. - Wave {C} since 3rd Dec. 2015 is a expanding ending diagonal. - Wave (4) of {C} could be done and upward wave (5) might have already started. - Target price is beyond 1.17 (the high of 24th Aug. 2015). - Invalidation price is around 1.082 (the low of 10th Mar.: Draghi day).
Best wishes!
Kommentare
donaldsaw
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Good analysis you've done there. I agree that it could be an ending diagonal but a flat i've ruled out as C wave hasn't shown a clear 5 wave impulse move. Have you considered another option for a triangle? -
Mizuki32
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Thank you for your constructive comment. Agree with your thought.
Hrmm, I can't come up with a better idea than this one right away.
Thanks for sharing your chart looks very good. Appreciate it :)