EUR AUD
Hello friends
We see the formation of a 5 Elliot wave in the EURAUD currency pair
Wave 4 is in the form of zigzag WXY
The second scenario is the formation of an ascending corner triangle in the form of an ending triangle in wave C
In both cases, with the completion of wave 5 or C, which are probably completed at the ceiling of the ascending channel
The price will go up to the top of the channel first, then it will go down to the bottom of the channel
If the 5-wave scenario is correct, because wave 3 is smaller than wave 1, wave 5 should not be larger than wave 3.
If this happens, the 5-wave theory is invalid and the ABC theory that wave C is a triangle with an ascending angle is correct.
Good luck
We see the formation of a 5 Elliot wave in the EURAUD currency pair
Wave 4 is in the form of zigzag WXY
The second scenario is the formation of an ascending corner triangle in the form of an ending triangle in wave C
In both cases, with the completion of wave 5 or C, which are probably completed at the ceiling of the ascending channel
The price will go up to the top of the channel first, then it will go down to the bottom of the channel
If the 5-wave scenario is correct, because wave 3 is smaller than wave 1, wave 5 should not be larger than wave 3.
If this happens, the 5-wave theory is invalid and the ABC theory that wave C is a triangle with an ascending angle is correct.
Good luck
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.