scenario 2 --- mega long term from 1985 to 2011-
wave 4 of current downtrend consilidate in a triangle then wave 5 push down to 1.2 for completion --
i kinda like this one ---
but listen carefully here ---
this triangle -something is not right here--- all tops and bottoms must be top @ 78.6 fibs -that is just plain philosophy of trading and you will see wave 1 to 2 was short from the 78.6 fib @ 1.6370/1.64 and all triangles form a ABC move in every wave --- so wht might can happen is drop now to 1.5125 then up to 1.6370/64 in an ABC move where i makred it on the chart -
and raza mention his fav longs would be 1.51--- i must say ye i agree ,,down to 1.51 then upto 1.64 to complete wave 2 in traingle--then down to wave 3 --- so the triangle will get wider how we move on --
so i will recommend to watch 0ut for 1.51 for a push upto 1.64 --
wave 4 of current downtrend consilidate in a triangle then wave 5 push down to 1.2 for completion --
i kinda like this one ---
but listen carefully here ---
this triangle -something is not right here--- all tops and bottoms must be top @ 78.6 fibs -that is just plain philosophy of trading and you will see wave 1 to 2 was short from the 78.6 fib @ 1.6370/1.64 and all triangles form a ABC move in every wave --- so wht might can happen is drop now to 1.5125 then up to 1.6370/64 in an ABC move where i makred it on the chart -
and raza mention his fav longs would be 1.51--- i must say ye i agree ,,down to 1.51 then upto 1.64 to complete wave 2 in traingle--then down to wave 3 --- so the triangle will get wider how we move on --
so i will recommend to watch 0ut for 1.51 for a push upto 1.64 --