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After The Major Downfall Back In 2015 The Pair Is Trading In A Consolidation With No Clear Direction.The Pair Is Forming A Double Zigzag As Of Now But Can Make Possible Move Of Triple Zigzag Correction.As You Can See In The Chart The First Wave Of Zigzag Correction Where Point C Falls Short To Complete Its Flat Pattern Therefore Indicating A Double Or A Triple Correction.(#Flat Correction#Wave C Falls Short Of Wave A #Indicating A Double Or A Triple Correction.)The X Correction Is A Zigzag Followed By Wave A Having A Zigzag Inside That Can Extend Up To 1.0978 Minor Resistance.If The Pair Breaks Above This Levels Next Target Would Be The 78.6% Of Swing High & Swing Low Which Is The Second Trend Line Above.On The Flip Side The Pair Can Triangle Correction (Flat + Any three + Triangle) But The Possibilities Are Less.
Note: Try Creating Pockets.
Note: Please Leave Comments For Any Query.
Disclaimer: Trade At Your Own Risk.
Good Luck,
Regards,
Growing Forex.
After The Major Downfall Back In 2015 The Pair Is Trading In A Consolidation With No Clear Direction.The Pair Is Forming A Double Zigzag As Of Now But Can Make Possible Move Of Triple Zigzag Correction.As You Can See In The Chart The First Wave Of Zigzag Correction Where Point C Falls Short To Complete Its Flat Pattern Therefore Indicating A Double Or A Triple Correction.(#Flat Correction#Wave C Falls Short Of Wave A #Indicating A Double Or A Triple Correction.)The X Correction Is A Zigzag Followed By Wave A Having A Zigzag Inside That Can Extend Up To 1.0978 Minor Resistance.If The Pair Breaks Above This Levels Next Target Would Be The 78.6% Of Swing High & Swing Low Which Is The Second Trend Line Above.On The Flip Side The Pair Can Triangle Correction (Flat + Any three + Triangle) But The Possibilities Are Less.
Note: Try Creating Pockets.
Note: Please Leave Comments For Any Query.
Disclaimer: Trade At Your Own Risk.
Good Luck,
Regards,
Growing Forex.
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