edoyuwon1909

edoyuwon1909

Overview The EURUSD pair has been exhibiting a bullish trend for the past three weeks, and this momentum is likely to continue throughout July. For those who followed my previous analysis last month, I recommended Scenario 1 as a guide for entering buy and sell positions. Scenario 1 Recap As illustrated in the chart, Scenario 1 suggests that the EURUSD could...

edoyuwon1909

Last week , I highlighted a potential best-buy zone for EUR/USD with two possible scenarios. The market movements this week will be crucial in determining which scenario will unfold for July, August, and September. However, an update is warranted as the price movements in the last week of June did not align with either scenario: Scenario I : This was...

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EUR/USD is holding at its support level, presenting a Best-Buy opportunity for taking a long position. However, there are multiple scenarios to consider for setting stop-loss (SL) and take-profit (TP) levels. SCENARIO 1 - Indicated by the blue line in the chart - EUR/USD is currently in wave 4, specifically completing wave D (from the ABCDE sequence),...

edoyuwon1909 Updated 

The bear and the bull fight each other through out this 2 years, it is a perfect definition of wave 4 of Elliot wave Weekly Timeframe Price failed to break through the 1.091 resistance last week and plunged to the 1.068 area, which coincides with the 38.2% retracement of the presumed wave 3. This aligns with the expected 38.2% retracement for the end of...

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Recap and Key Points: In our previous post, we predicted that wave 4 might be over. This week, the market seems to have begun an upward motive wave, validating our initial prediction. Current Wave and Technical Analysis: If our prediction holds true, we are currently in wave 1 of wave 5. The chart above illustrates a potential correction that is underway...

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A well-calculated risk-reward ratio is essential for achieving success in trading. The signals indicated in the chart align with the bullish scenario discussed in the previous post. In this scenario, we assume that the wxy correction has concluded and an impulse wave 1 has already formed. Importantly, wave 2 should not exceed the height of wave 1, unlike wave B,...

edoyuwon1909

which counting do you preferred? the green is for bullish bias, the price had just finish its wxy correction then make a motive wave that break the wxy channel? the red for bearish, the price will start to form its c after finishing a flats correctiom share your thought in the comment

edoyuwon1909

While it seems likely that interest rates will remain unchanged, the upcoming Fed announcement is expected to provide some momentum to the price action. Earlier this week, we observed the price breaking below last week’s swing low, which might be interpreted as a shift from a bullish to a bearish trend. However, the downward break remains within a normal range...

edoyuwon1909

The price has continued to drop over the past two days, confirming the bearish trend. Wait for the right price levels for a sell or buy position. Be patient, don’t rush. Take positions with a good risk-reward ratio. good luck

edoyuwon1909

The EUR/USD has been moving sideways for an extended period, which can be quite exhausting for traders. After making a higher high, the price quickly retraced and last week’s closing price was at the support area. green scenario For those considering a buy position, entering at support is a solid strategy, providing a good risk-reward ratio. NB: However, until...

edoyuwon1909

Today's NFP caused a significant drop in the price, but it did not break below last week's low. This means we cannot yet conclude that wave 5 has ended. The price is also hovering in the same area as it was two weeks ago (highlighted in blue), which might suggest a flat correction for wave 4. This is a common in wave 4. In summary: it's possible that wave 5...

edoyuwon1909

Continuing the analysis from the previous post, EURUSD is currently completing wave 5. The length of wave 5 can be characterized by the following: 123.4% reverse retracement of wave 4, or 161.8% reverse retracement of wave 4, or 61.8% of waves 1-3. One of these criteria has already been met. From the perspective of the pattern formed, there should ideally be 5...

edoyuwon1909

the price made a perfect sequence with the fibonacci ratio. will go up at leat to 1.09377

edoyuwon1909 Updated 

It appears as depicted in the chart, the daily closing price halted precisely at the trend-line. This suggests that the price is likely to go downward before resuming its bullish trend. This differs from my analysis in a post a few days ago. In that post, I speculated that the appearance of a bearish leading diagonal would mark wave 1 of a downward trend,...

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If tomorrow, at the closing price in May, the price does not break through 1.09000 and instead closes at 1.08400-1.08500, then it is likely that the correction has ended and the price will continue its bearish trend. This is the main reason why, in the update from my last post, I recommended closing buy positions. The next question is where can we take a sell...

edoyuwon1909 Updated 

Presently, EUR/USD is in wave iv, and we are anticipating wave v. The last price peak reached 161.8% of wave i (leading diagonal) as identified below. Based on this, we assume that it is not C but wave iii and there is still one more upward wave before a correction occurs. Over the past week, the price has retraced 36% of wave 3. Some Elliott Wave traders...

edoyuwon1909

As seen in the annotations I made on the chart (also refer to my previous post), my assumption is that the price is currently in wave 4, where a typical 38.2% correction occurs. In the previous post, I was uncertain about the wave 4 pattern that had formed. However, today's movement might provide some insight. At this moment, it is possible to take a sell...

edoyuwon1909 Updated 

Like often occurs in Elliot wave counts, we're confused about determining whether it's i - ii - 1 (iii) (red line) or A-B-C (green line) I draw the analysis so both bullish and bearish can take positions with good risk-reward ratios. tell me your thought on this in comment box, are you a red bull or a green bear? good luck