#EURUSD - 5th Elloitt wave on D1?

After strong move to the upside on Tuesday EURUSD had problem to break through 1.3790. Yesterday that level was defeated, but EURUSD started to consolidate a step higher between 1.3790 and 1.3830. Expectations of deeper correction of a move from 1.2720 are growing. From daily time frame you can notice that the move from 1.3500 – 1.3830 can be seen as a 5th Elliott wave. We will look here to open a longer term swing trade position expecting start of correction. As far as our day trading strategy goes we will look for short @ 1.3830 for a 20 pips profit, or a short position @ around 1.3790 after seeing meaningful break through that level and a trendline (entry on retracement to 1.3790).