I have a few short positions on this pair and I wish to take profit @1.4500.
It will be at this level where I will wait for bullish price action in the 1.4400-1.4300 handle.
I am basing this idea on the following confluences which are clearly displayed on the chart.
1. Potential Wolfe Wave in the process of completing Wave 4.
2. Price in a clear downtrend and is heading to new yearly lows
3. Next Daily Demand is untested and holding institutional orders.
4. $ correction on DXY coming soon.
5. Wolfe Wave pattern validity and high probability target.
I am not saying this is a new trend prediction however I am saying there is a high probability of price bouncing from 1.44 handle!
It will be at this level where I will wait for bullish price action in the 1.4400-1.4300 handle.
I am basing this idea on the following confluences which are clearly displayed on the chart.
1. Potential Wolfe Wave in the process of completing Wave 4.
2. Price in a clear downtrend and is heading to new yearly lows
3. Next Daily Demand is untested and holding institutional orders.
4. $ correction on DXY coming soon.
5. Wolfe Wave pattern validity and high probability target.
I am not saying this is a new trend prediction however I am saying there is a high probability of price bouncing from 1.44 handle!
