Pair did well yesterday after the false break and moved lower as expected. Now as long as it holds the last highs we can expect it to duplicate the first H4 wave. We can join with the break of the flag that is being formed currently, well seen on the H1 chart.
Entry:
H1 – follow the flag that is being formed after the first down wave. We can short the pair with the break of the flag.
Target 1: 120.50 – Wave Duplication
Target 2: 120.00 – up trend line
Stop Loss: above broken trend line (of the flag) and resistance
Video Explanation
Yours,
Vladimir
