EUR/USD it looks like a corrective decline for Wave ii/b should soon follow which should be confirmed at the break of the red channel to the downside.
However it needs to be noted that this will only be a corrective move down and hence should be followed by a new Impulse to the upside which should take Euro above Wave i/a high.
More precise levels will become clear once the corrective move is confirmed.
However it needs to be noted that this will only be a corrective move down and hence should be followed by a new Impulse to the upside which should take Euro above Wave i/a high.
More precise levels will become clear once the corrective move is confirmed.
Note
So far following the arrows, we wait for the break of orange channel to enter shorts : Note
Euro : Down move seems to have started, shorts can be added with SL above Swing high, expecting move till white support zone : Note
Euro : 1H : Looks like W .a has begun the downward progression : Note
Euro : So far moving as expected : Note
Euro : T1 achieved, W.(3) about to get complete with possibly one more down leg remaining in the same : Note
Euro : 15 min. : As expected, W.(3) complete, moving up for W.(4) possibly as a Zig Zag or a complex correction : Note
Euro : 15 min. : Looks like W.(4) might be continuing sideways, most likely as a Triangle which should be followed by W.(5) down, hence sideways to bearish for now : Note
Euro : 1H : Expected progression of W.(4) as Triangle, if it moves above the LT line then that would mean that the correction is already complete and hence 1.16578 should be taken as SL for shorts for now : Note
Euro : 1 H : Updated Count : W .b either complete or continuing as a Triangle : Note
Euro : 15 min. : Expecting up move for W.C of the Triangle : Note
Euro : Went up as expected but without the deep correction that was expected, the Impulsive move suggests that this may be a W.c up for Flat correction rather then a Triangle, also there is the small possibility that the W .y is already complete and this is the new Impulse to the upside : Note
Euro : 5 min. : W.x/b looks to be continuing : Note
Euro : So far as expected, looks to have completed W.A of Triangle W.D : Note
Euro : 15 min. : Updated Count : W .x/.b still looks to be continuing : Note
Euro : 15 min. : Hypo 1 : Hypo 2 : W.ii/b is complete and we are going to see a straight up move from here :
Note
Hypo 2 : W.ii/b is complete and we are going to see a straight up move from here :Note
Note
Euro : Hypo 1 : Update : 15 min. : Note
Euro : 1H : Expected Progression : 
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Unmatched 80% plus forecast accuracy for 6 years : 50eyes.com/forecast-accuracy/
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Video Course : 50eyes.com/elliott-wave-course
Author : Think with the Markets
Related publications
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.