Stop grabber
I like when Sive says: possible stop grabber...
eurusd
Yesterday, after price entered 1,3748, I was forced to start looking for new patterns and there was one which was invalidated very soon, again, and later there remained 2, one done and one in progress. First, done, could be treated as 3 drive, but I do not like it although I think I can not deny it..it is labeled pink in the picture. Second I like a lot and it is TZZ (Tripple ZigZag;
sorry, it is DZZ, lapsus calami)...I can not say which one will unfold but I expect more TZZ, second one, and here is very tight stop and good RR ratio because price should not exceed 1,38193 if market is ready for it. If it will come true, this move should be fast, impulsive, because this should be wave c. Target, as minimum, is below 1,36716. @1,36631 is also 62 retrace from 20140203 low @1,3476 and 20140313 high @1,39657 and there is also MS1 around 1,3660 somewhere.
Later today is FOMC meeting and it might push the market somewhere, I hope it will, because this corrections are annoying!
On March 20th I posted picture below and I still can not say for sure what is going on...is it ending diagonal unfolding to the upside or maybe even an impulse, if this 3Drive will come in play, or we are in first wave of ending diagonal to the downside..I really hope FOMC will cut this knot and we get some move and clearer picture..Fact is, at least to me, that if I respect the book rules (recommendations ?!), we should go down in next days..today we could get only new low and then next few days correction to the upside...
Good trading!