Last week played out as I had speculated. Actually ended the week reaching my target of 1.6270 and even fell as far as 1.6230. As I have said before their is no need to be greedy just trade your plan and move on. Hitting my 1.6270 target gave me a 260 pip profit and add that to the 109 pips earlier last week we ended the week with a 369 pip week. I would take that every week if I could, not bad for just playing one pair. Anyway looking at the chart going into Sunday evening trading, I believe we are still in this wave 3 of 3 of the overall 5th wave. I look for price to fall as low as 1.6100 to 1.6080. Not taking a trade here. I will better know when market opens. I believe this wave 3 is extended on the smaller time frames. So feeling a little apprehensive to go short. Price could reverse at 1.6150 level but if this level is taken out I look for price down to 1.6100 to 1.6080. I might take a counter trade chance at the beginning of wave 4. Wave 4 will be long and draw out so I will have to place wide stops. If price completes my plan then I look for wave 4 to retrace back up 38.2 percent of wave 3 drop which would be the 1.6250 level. Let's see.