I am currently looking at a 4hourt chart of EURUSD.
And it now seems to me that there is a possibility that this wave is actually developing into a potential symmetrical contracting triangle corrective wave.
Such the current wave 5 of sub wave c down will potentially be truncated to bounce of the 4 hour trend line.
To me the 4 hour trendlines seem very important that when a 15 min candle opens and closes below this, a big move is most likely to occur.
If this happens, then most likely EURUSD will range inside tjhis symmetrical triangle till around Tuesday or Wednesday next week till it breaks out to the down side.
EG
And it now seems to me that there is a possibility that this wave is actually developing into a potential symmetrical contracting triangle corrective wave.
Such the current wave 5 of sub wave c down will potentially be truncated to bounce of the 4 hour trend line.
To me the 4 hour trendlines seem very important that when a 15 min candle opens and closes below this, a big move is most likely to occur.
If this happens, then most likely EURUSD will range inside tjhis symmetrical triangle till around Tuesday or Wednesday next week till it breaks out to the down side.
EG