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Traders, we have a set up on EUR/SEK on the 3H chart, with a cycle pattern buy. (Three drivers pattern).
When analyzing this chart, I discovered that price appears to be moving in patterns. Price has an impulse leg, and then has a corrective leg, and then has a new impulse leg that measures the same size as the previous one.
When analyzing the chart, I started by measuring the first impulse, I discovered that the price correction seemed to hit a Fibonacci retracement , there was a new impulse leg. Price has recently been impulsive and has been showing signs of more uptrend. Sure enough, when I measured the second impulse leg, it was the exact same measurement as the first impulse.
I am expecting an up move up to the Cycle #3 completion, which exactly coincides with a historical high to the EXACT pip! Coincidence?
Do remember that before price completes Cycle #3 it will likely correct, so it's important you watch this trade carefully before considering a position.
I will be posting updates on this trade below, so leave it a like & follow so that you can keep up to date with this analysis.
When analyzing this chart, I discovered that price appears to be moving in patterns. Price has an impulse leg, and then has a corrective leg, and then has a new impulse leg that measures the same size as the previous one.
When analyzing the chart, I started by measuring the first impulse, I discovered that the price correction seemed to hit a Fibonacci retracement , there was a new impulse leg. Price has recently been impulsive and has been showing signs of more uptrend. Sure enough, when I measured the second impulse leg, it was the exact same measurement as the first impulse.
I am expecting an up move up to the Cycle #3 completion, which exactly coincides with a historical high to the EXACT pip! Coincidence?
Do remember that before price completes Cycle #3 it will likely correct, so it's important you watch this trade carefully before considering a position.
I will be posting updates on this trade below, so leave it a like & follow so that you can keep up to date with this analysis.
