EURUSD - Entertaining the possibility of a hard fall
As crap as I see the dollar and e-mini, lately, I still have to recognize this.
A true corrective wave should have A and C (of the ABC) mostly proportional, and the B wave should have the same properties. Looking at the daily, we might actually have that.
This idea came to me when realizing that wedges / massive consolidation usually occurs in 4th waves, which makes a case for a final push downwards before completing this cycle.
Many markets are consolidating, so this is going to be an interesting month with many breakouts, upwards or downwards. I leave this post as neutral since it's mostly food for thought.
A true corrective wave should have A and C (of the ABC) mostly proportional, and the B wave should have the same properties. Looking at the daily, we might actually have that.
This idea came to me when realizing that wedges / massive consolidation usually occurs in 4th waves, which makes a case for a final push downwards before completing this cycle.
Many markets are consolidating, so this is going to be an interesting month with many breakouts, upwards or downwards. I leave this post as neutral since it's mostly food for thought.
