Euro Stoxx 50 looking bullish above 200MAW Formation has formed on the daily and the price is above 200MA
THis gives a Bullish Bias for further upside.
Eurstoxx
Jamie Gun2Head Idea - Selling EU50Trade Idea: Selling EU50
Reasoning: Looking for secondary aggressive selloff
Entry Level: 3602.0
Take Profit Level: 3476.0
Stop Loss: 3634.0
Risk/Reward: 3.94:1
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🎢Euro Stoxx 50: Eurozone economy will continue to grow●● Preferred count
● SX5E ( TVC ) , 🕐TF: 1W
Fig.1
The Euro Stoxx 50 Index is the main index in the Eurozone. The components of the index are companies that are leaders in their industries - 50 companies from 12 eurozone countries: Austria, Belgium, Germany, Greece, Ireland, Spain, Italy, Luxembourg, the Netherlands, Portugal, Finland and France.
The main scenario is the continuation of long-term growth within the framework of the cycle wave V .
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● EU50EUR (OANDA) , 🕐TF: 1D
Fig.2
The ascending impulse (1) and the beginning of the subsequent correction (2) of ③ were successfully predicted. At the moment, the threewave corrective phase can be interpreted as a completed A-B-C single zigzag . Growth is expected to resume as part of the third wave.
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● EU50EUR (OANDA) , 🕐TF: 8h
Fig.3
As a local alternative scenario, black marking is proposed, in the context of which wave (2) will become more complicated to a double zigzag W-X-Y . This counting option will become more relevant if the sideways correction stretches in time and takes the shape of a triangle X .
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●● Alternative count
● FESX1!(EUREX) , 🕐TF: 1W
Fig.4
The probability of realization of the given scenario will multiply increase in case of display by a wave B of (Y) of the form of a triangle.
🎯 Interesting points for making trading decisions:
— Breakdown of the orthodox bottom of the wave B of (Y) of Ⓑ ;
— Completion of the zigzag (E) of Ⓑ within black marking;
— Completion of the zigzag Ⓔ of IV within the color marking.
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Elliott Wave Analysis & Forecast, STOX50, M1, 20151222As per Elliott wave rules and above count we are in blue wave iii of green wave Y. Green wave X start @ 1583 and formed zigzag in in three sub-wave red ABC which finish at 3602 placing Long Term Top there. The ideal target green wave Y is near 700-750 area or even lower where we will expect strong support and long term buyers enter the market to push up beyond the previous high. For medium term price will decline impulsively in blue wave iii that can go 2145 or slightly low near 2000 a major psychological level.
muhiuddin
