Hello every one , I am new to babypip, I am trading the EUR/USD short at this level ,please let me know what you think ?
If my count is correct we are in a small correction wave 2 that is about to end forming a contracting none limiting triangle, and the start of wave 3 that should end around 1.3170.…1.3150 target .
That if Wave 1 =3 normally wave 3 is longer because normally wave 3 is the extended wave x3
What looked like a triangle Wave 2 is nothing but a flat correction and test of the 50% resistant of wave 1 , I think that wave 2 is over and now we should be in a wave x3 which should extend down. If correct the 1.3420 support should be broken in the coming days wave x3 should reach 100% of wave 1 at 1.3233 if it dose extend it could reach the 150% at 1.3041. But we will never know what will happen , , the formation dose look like a falling wedge ,? But it is too early to confirm that ,? Please let me know what you think, if any one share their idea it would be great.