3-wave pattern on 5min EURUSD — looking for trading scenario
Price action on EURUSD during the Asian session wasn’t active. During that time the pair managed to form 3 waves with the direction to the downside.
We should keep an eye thoroughly on this instrument right now, cause the current pattern gives us a lot of possible variants for trading, and very soon one of them will be proved.
Keep in mind, that wave 3 is shorter than wave 1, as shown on the chart. It can mean, that possible wave 5 (bearish) should be even shorter than the previous one. In other way, we can meet with an example of expanded wave 3. According to this case, the impulse, currently marked as 3, will be transformed into part [i] of wave 3.
Look patiently for level 1.3665, if it’s broken, you can await bullish move till at least 1.368.
More detailed view on trading parameters for sell orders are posted before.
