eurusd
Updated
ill try to explain here two way possibilities so bare with me...
that white abcde diagonal is a perfect complete structure which i actually expected it but didnt made chart on it, it looks like from a school book. so... whats happening when one way structure finishes? the other way structure begins to form... so will this next structure be motive or corrective i dont know and thats why need to follow the forming. so on the chart there is a blue circle which shows major confluence of trend lines along on 0.618 zone from that motive wave, so we will see how the price will react there, if it show strength and pass it with some lesser time frame correction than expect another correction which will rest and find support on that zone before move on up. but if it starts stagger there at that confluence zone than it may be those red abc correction and another move down to complete bigger degree time frame abc structure.
for now that last move looks promising as motive cose it passed all resistances and started resting above them, so if it support the price there its more likely to go above. and the major thing is if this gonna be a major move above the diagonal or just corrective pattern for more downside.
that white abcde diagonal is a perfect complete structure which i actually expected it but didnt made chart on it, it looks like from a school book. so... whats happening when one way structure finishes? the other way structure begins to form... so will this next structure be motive or corrective i dont know and thats why need to follow the forming. so on the chart there is a blue circle which shows major confluence of trend lines along on 0.618 zone from that motive wave, so we will see how the price will react there, if it show strength and pass it with some lesser time frame correction than expect another correction which will rest and find support on that zone before move on up. but if it starts stagger there at that confluence zone than it may be those red abc correction and another move down to complete bigger degree time frame abc structure.
for now that last move looks promising as motive cose it passed all resistances and started resting above them, so if it support the price there its more likely to go above. and the major thing is if this gonna be a major move above the diagonal or just corrective pattern for more downside.
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