I've tried to get to understand the trend cos I've been lost thinking the wrong way. Yes now I see the structure i need to chop it down bit by bit. The Projected Blue box is on the Zone right with the major resistant thats 4 confirmation
I don't have much to say about this pair but this is what or how i look at it and i will appreciate some advice and your point of view guys
The X could be an Expanding Flat and to form a Y leg with a 3 Wave move to the down side OR a 5 Wave move
Here we see a textbook Corrective structure waiting to push just a little bit Bearish to complete the correction that is gonna go Bullish and Rally up to complete a Wave 5. the we gonna update the following deeper correction, Your input and suggestions or Critics will mean a lot to me i take it as a learning part
As we see it to be a correction to the BEARISH move of about 1300 pips, A 3 wave Zigzag Correction combined with an Expanded Flat Correction followed by the anticipated Zigzag correction to form a total 3 combination correction WXY on yellow Intermediate Degree. I'm expecting another BEARISH 1300pips from the end of the correction.
