Hello traders,
Today we will be monitoring EURUSD as we have been extremely interested in catching our expected buys which have already begun!
EURUSD has been in a bearish impulsive wave since summer 2021 and I believe we have come to the end of our bearish wave which is where we should be seeing a correction form.
I am anticipating a ABC correction to form before seeing any more weakness from EURUSD.
Why we are looking to buy?
- Elliot bearish wave has come to an end and we are now in a correction.
- We have rejected our fibonacci level perfectly as anticipated.
- We can see the 1HR EMA is being respected on the downtrend, we can use this as a confirmation of bullishness as this will confirm a change in direction.
We what are we looking for?
- We are looking for a break of the 1HR EMA/WFB trendline or BOTH! Using both will give you the strongest confirmation.
Be sure to BOOST🚀 my idea if you like it
Thanks
MoneymanFX
Today we will be monitoring EURUSD as we have been extremely interested in catching our expected buys which have already begun!
EURUSD has been in a bearish impulsive wave since summer 2021 and I believe we have come to the end of our bearish wave which is where we should be seeing a correction form.
I am anticipating a ABC correction to form before seeing any more weakness from EURUSD.
Why we are looking to buy?
- Elliot bearish wave has come to an end and we are now in a correction.
- We have rejected our fibonacci level perfectly as anticipated.
- We can see the 1HR EMA is being respected on the downtrend, we can use this as a confirmation of bullishness as this will confirm a change in direction.
We what are we looking for?
- We are looking for a break of the 1HR EMA/WFB trendline or BOTH! Using both will give you the strongest confirmation.
Be sure to BOOST🚀 my idea if you like it
Thanks
MoneymanFX
Note
Keep in mind we have high impact USD news soon which can increase volatility and disrupt the market causing spikes
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Disclaimer
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Want more chart ups like this? Click the links below:
VIP Telegram: t.me/MMFX_VIPbot
FREE Telegram: t.me/MMFX_FREE
Instagram: instagram.com/mmfx__j/
VIP Telegram: t.me/MMFX_VIPbot
FREE Telegram: t.me/MMFX_FREE
Instagram: instagram.com/mmfx__j/
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.