{quote} GU Cash out few more , as waititng for confirmation price starting to change direction once strucutre broken. Holding few more short scalp , but starting to built up long scalping position. If the next moves confirmation completion of Wave A, the correction for EW B is in the making.{image}
Nine days price back to where it started.
weekly , pricebroken below some key structure, so those nice higher highs and higher lows we were seeing?
They’re likely done.
We are looking at either a three-wave pullback *ABC to a Fibonacci level with an eventual bounce up, or a five-wave drop* 12345.
Whether it's three or five waves doesn’t matter too much right now – either way, it’s pointing towards shorts.
Daily trend’s still clearly down.
No structure break or solid bounce yet, so there’s no signal that the downtrend’s ending anytime soon.
H4 shows those lower lows and lower highs even more clearly, which could mean this move down is the start of a wave A or wave 1.
Until we get a clear sign of a bounce or correction, the trend looks set to keep heading down.
With the U.S. election just around the corner (8 days out), dollar pairs could get choppy.
Keeping an eye out but leaning short and long both way to scalp the best out of this.
Until, we got a legit break to the upside on the higher time frames , it’s shorts all the way until something says otherwise.
I come from the future.
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