eurousd . high expectations
as my opinion ;
i see a elliot 5 wave starting from january 2021 and ending right now and the price is rising up for creating the ABC wave .
and i see a bearish crab pattern appearing from 24 nov 2021.
and it has formed the pattern at fib.ret. 161.8 (x-a) and at fib.ret. 261.8(b-a) at the [d] point.
if i am right , the price will fall down to the first resistance at the exact point of fib ret (x-a) 1.14 % . and then it will rally up again.
if the price breaks down the first resistance it will bounce on resitance of (x-a) 61.8 %.and then it will rally up to break the support level of the previous resistance to rally up again.
it will for the elliot ABC form . ( i hope so ) :)
i see a elliot 5 wave starting from january 2021 and ending right now and the price is rising up for creating the ABC wave .
and i see a bearish crab pattern appearing from 24 nov 2021.
and it has formed the pattern at fib.ret. 161.8 (x-a) and at fib.ret. 261.8(b-a) at the [d] point.
if i am right , the price will fall down to the first resistance at the exact point of fib ret (x-a) 1.14 % . and then it will rally up again.
if the price breaks down the first resistance it will bounce on resitance of (x-a) 61.8 %.and then it will rally up to break the support level of the previous resistance to rally up again.
it will for the elliot ABC form . ( i hope so ) :)
Note
sadly my idea seems to be incorrect .as the second ABC wave is been appearing , the first wave (A) should rally more up to at least as big as the 4th wave of the elliot , in this case this trend will rally up to 1.13830 (fib.ret. 38.2 of the 5th elliot wave) .
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