💷EURGBP💶 — Life-long correction...
●● Mine scenario
● EURGBP(IDC):🕐1W
"Pic.1"
To the question: "What pattern of Elliott waves is forming wave (B)" — I still do not have an unambiguous answer — either a combination, or an equally rare representative of a simple correction in the form of an expanding triangle. There are other options for the interpretation of this structure in the storerooms, but they all lead to one thing —continued growth with the renewal of the top of the primary wave ①.
● EURGBP(FXCM):🕐1D
"Pic.2"
I think it's too early to talk about long-term purchases — the structure is replete with alternative options for count in the senior and junior degrees. The bullish count (with renewed growth from the current ones) entered the main scenario only due to the fulfillment of the minimum structural requirements within the hypothesis with the W-X-Y combination, which, by the way, has a high probability of the Y wave becoming a triangle.
● EURGBP(FXCM):🕐4h
"Pic.3"
As you can see, this is not the best moment to make trading decisions. For a less risky long position, I recommend waiting for the invalidation of counting with black marking in the form of a breakout of the top of wave "(b) of ((ii))".
●● Alternative scenario
● EURGBP(IDC):🕐1W
"Pic.4"
As an alternative count of the waves, I propose a large triangle in the cyclical wave IV, in which the decline is taking place within the final wave ((E)) with targets in the area of the green Fibo level.
The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.
● EURGBP(IDC):🕐1W
"Pic.1"
To the question: "What pattern of Elliott waves is forming wave (B)" — I still do not have an unambiguous answer — either a combination, or an equally rare representative of a simple correction in the form of an expanding triangle. There are other options for the interpretation of this structure in the storerooms, but they all lead to one thing —continued growth with the renewal of the top of the primary wave ①.
● EURGBP(FXCM):🕐1D
"Pic.2"
I think it's too early to talk about long-term purchases — the structure is replete with alternative options for count in the senior and junior degrees. The bullish count (with renewed growth from the current ones) entered the main scenario only due to the fulfillment of the minimum structural requirements within the hypothesis with the W-X-Y combination, which, by the way, has a high probability of the Y wave becoming a triangle.
● EURGBP(FXCM):🕐4h
"Pic.3"
As you can see, this is not the best moment to make trading decisions. For a less risky long position, I recommend waiting for the invalidation of counting with black marking in the form of a breakout of the top of wave "(b) of ((ii))".
●● Alternative scenario
● EURGBP(IDC):🕐1W
"Pic.4"
As an alternative count of the waves, I propose a large triangle in the cyclical wave IV, in which the decline is taking place within the final wave ((E)) with targets in the area of the green Fibo level.
The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.
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