EURUSD - We're in a wave (iv) correction for now and either we're in a simple ABC correction(doubt) which should find support around 1.1150 - 1.1108 or we're still in wave b playing out as a Flat.
Remeber that waves 4 are very tricky as they can take any corrective shape, so, be carefull when buying and do not expose yourself to too much risk!
Remeber that waves 4 are very tricky as they can take any corrective shape, so, be carefull when buying and do not expose yourself to too much risk!
Note
Flat option : Note
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Note
EURUSD - This could be all of red wave ((iv)) here. We have perfect symetry between wave 2 and 4 in time and length ! Very strong support ! Notice that if we see price go up in 3 waves, we need to consider the Flat possibility !
Note
Price went up but could not make a new high and now is down in 3waves due to the ECB press conference. This indicated we might be in a Triangle pattern (as long as we reamin above 1.1104.
Note
First triangle count invalidated. Let's wait some more for things to clear up a bit
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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.