Possible Scenario #1
Possible a contracting triangle with lower line rising
Trade:
Short at Market Price 1.0837
Stop loss 10 pips above wave sub-wave B of D
@1.0936
Profit target @1.0790
Risk reward ratio is about 1 to 1
For a Risk reward ratio 3 to 1 i would wait for sub-wave B to develop and enter short the market @ 1.0900. Stop loss to remain the same
Possible a contracting triangle with lower line rising
Trade:
Short at Market Price 1.0837
Stop loss 10 pips above wave sub-wave B of D
@1.0936
Profit target @1.0790
Risk reward ratio is about 1 to 1
For a Risk reward ratio 3 to 1 i would wait for sub-wave B to develop and enter short the market @ 1.0900. Stop loss to remain the same