Bearishness is now at capitulation levels, whom ever wanted to sell, has now sold, and now we wait for the inevitable rally and the begining of wave C.
The new year is looking bright for the Yellow metal.
If so, we are at another critical juncture in EURUSD where the dominant trend may explode back to life.
Wave 1,2 blue is complete,
wave (i), (ii) green is complete,
and now wave i,ii brown is possibly complete.
Either way, 1.0353 is critical, if it gives way, the price could decline quickly.
My test short position was stopped out, but I will be trying again, possibly tomorrow if the right price action emerges.
The current wave count calls for the usual Christmas rally to take hold over the week.
Given the severity of the Alternate wave count, what follows this final rally might be the stuff legends are made of!
Learn how an Elliott Wave Forex trader applies the theory to trading successfully and profitably. These are EXACT price patterns I used for years to steadily grow my trading account while taking minimum risk.