This is my Elliott wave idea about EURUSD.
I think that we are in sub-wave (1) (Red) of wave 3 (Black).
Wave C(Black) was completed and definitely switched to a new Uptrend.
If the assumption is correct,
The wave (1) (Red) will grow to the levels of 1.1261-1.1300
After wave (1) (Red) retrace, wave (3) (Red) will grow in the trend direction.
In this scenario, the stop loss level is 1.0989
1Day chart
I think that we are in sub-wave (1) (Red) of wave 3 (Black).
Wave C(Black) was completed and definitely switched to a new Uptrend.
If the assumption is correct,
The wave (1) (Red) will grow to the levels of 1.1261-1.1300
After wave (1) (Red) retrace, wave (3) (Red) will grow in the trend direction.
In this scenario, the stop loss level is 1.0989
1Day chart
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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.