After having found resistance at the 1.17679 zone which we talk about on last week sunday's idea, this pre week analysis was analysed from the stand point of wave formation the eurusd instrument which gives us 1:2.75 risk /reward ration.
wave 1 which has correctly formed by a 5 wave count and wave 2 being a zonal 38.6% of wave 1.
wave 3 is another prefect 5 wave count but shorter than wave 1, so it means that wave 5 has to be equal or shorter than wave 3.
wave 4 is a flat correction will at 1.18356 zone but there will be a side ways move for the subwave 4 of the C leg of the flat correction
wave 1 which has correctly formed by a 5 wave count and wave 2 being a zonal 38.6% of wave 1.
wave 3 is another prefect 5 wave count but shorter than wave 1, so it means that wave 5 has to be equal or shorter than wave 3.
wave 4 is a flat correction will at 1.18356 zone but there will be a side ways move for the subwave 4 of the C leg of the flat correction