My picks: exit EURUSD short at 1.3740
Expertise: Technical
Average Time Frame of Trades:
Near term, staying below 1.4181 keeps the trend pointed down and the alternate (in which wave ii is complete at 1.4340) intact. A rally through there would negate the bearish bias and signal that price is most likely headed above 1.4340 and probably 1.4723 in order to complete an ending diagonal as wave C from 1.2454. Given the GBPUSD pattern, the bullish scenario is probable since we are already in this trade at a decent price though, move risk to 1.4180 and place an order to take profit at 1.3840.
