WXY-Elliot-waves pattern for longing opportunity
Updated
on the monthly timeframe the trend has broke 12-years trend. On the daily timeframe the trend has made an WXY, it established the W then made 2 set of correction waves then rallied to hit the X area with 3 Eliot waves after finishing the W celling it declined with 4 waves so far out of 5-Elliot waves. So probably the fifth wave will hit the 1.16050 level before it pullback to and uptrend.
Note
The entry would be at Y, the SL under the monthly trend line, the TP for a starter under the 23.6% fibo.
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