Disliked{quote} Hi, my friend. I see you have still been in the EU market. So I have. two questions to ask 1/ I am expecting the point of 1,1400 to break through. the target is supposed to be 1.1550. 2/ What is the channel indicator you do use? Best D.P. {image}Ignored
Hi DP,
hope you do well.
I am very active in EU most of the time.
I have no channel indicator. They are drawn by hand. And they are mainly/mostly Elliott wave channels
at the moment I look for targets between 1610 and 1744. Since I believe that we ar now in the C leg of a broader ABC flat, which started around 1220 on 12th Nov 2018, the most likely target for C would be between 100-138% of A, which give the 1610 to 1744 target.
The 161% extension would be around 1827.
Maybe this all is only part of a many month sideways action.
We will see.....
Attention: lately I have observed very many ABC-flats, were the C wave was very short, only around 61% of A. This would be around 1475
Around that point I expect most retail traders to go from long (now) to heavy short
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