After yesterdays strong downward move by the EUR/USD we definitely should avoid opening buy positions. Looking for sell opportunities at around the top region on the 1hr chart marked with a yellow line. The target area is the bottom yellow line that is the diagonal which can be seen on the 4hr chart (the 1st chart).
Elliot wave count - Strong wave 3 formation is quite clear on the 1hr chart. We should expect a shallow wave 4 correction (has already started), then we enter for the 5th wave.
Open positions: Sell @ 1.2985 - 1.2998 region
SL: 1.3018
TP: 1.2930 - 1.2920 region
If our SL is hit then we should start looking for more buy opportunities.
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