Hey all markets have be slow as we wait patiently like a sniper for orders to initiate a Head shot. I figure Eur Usd is in a 4th wave retracement and according to my man Elliott, 4th wave are known to be very choppy and does not retrace back to the level of wave 1. Therefore as price is still bearish on the Daily and has now also broken its 4hr Poseidon trend and Trigger line to confirm a possible bearish continuation init 5th wave. I’m expecting a short retracement back to 1.2615 area the a sharp selloff down to the 1st target of 1.2162 the chance of this move according to price action is 95% on all wave levels . However, Remember price is king and Risk management is the emperor so stay vigilant. Waite for sell signal according to your system. i'll be waite for a rally in the 4hr stochastics as usual and a bearish candle formation for confirmation
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