eurusd uptrend continuation (Strong bullish)
eur usd uptrend continuation.
As we can see on weekly chart, in closed prices level, we have a breakout on ab=cd target, and if we will have a consolidation here, next target will be 1.22192 -1.23040 area, where is the final target for wave (4). We must notice, that, 1.272 fibo extention and the 38.2%fibo retracement in 1.18200 area and 1.618 FE and 50% FR in 1.22192.
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As we can see on weekly chart, in closed prices level, we have a breakout on ab=cd target, and if we will have a consolidation here, next target will be 1.22192 -1.23040 area, where is the final target for wave (4). We must notice, that, 1.272 fibo extention and the 38.2%fibo retracement in 1.18200 area and 1.618 FE and 50% FR in 1.22192.
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It's likely wave is over and we are in a beginning of a shallow correction to take place as wave .
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It's likely wave (iv) is in development and according to our counting, it mustn't be longer than 1.13123 which is the close price of wave (i). In fact we expect a shallow development of it. We will see....
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The rihgt is 1.12369 and no1.13123. Sorry for the typing.
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The correction was too muts shallow. Draghi helped. Next target of (v) of , looks like to be 1.1823 area. Let's see...
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....of (v) of {iii}, sorry for typing
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H1 time frame
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With a little gain, because wave iv will be deeper
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Flat correction
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When waves (i) and (iii) are equal , then wave (v) is extended ( EW theory)
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It's likely diagonal triangle ending is in development. From the other hand, the daily candle concerns me, if the daily close is unchanged (look under).
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sorry but this for gold. EURUSD follows below
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Trade closed: target reached
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Trade closed: stop reached:
Expansion of wave (iii) hit sl. Nevertheless we are on the wright way and we have two possible retracements for wave (iv). Notes are on the chart below.
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We expect prices breakout 1.19098 -1.19115. If this will happen, the absolut target for wave {v} of C of (4) will be in 1.2200 -1.2250 .Above 1.23040 in close prices is invalid wave because will have an overlaping with the wave (1) . In this area is 0.5 (1.22414) of fibo retracement of wave (3), which is, with the 0.382 (1.18278), the retracements of third waves, in most cases. We have also equalization of wave{v} and wave {ii} in 1.22459 area, which is the next target after 0.618 (1.19115) and finaly 1.21905 which is the target of ABCD correction.
In case that we don't have breakout, then we talk about swing resistance in 0.382 (1.19100) area ,with completing of wave (4) at the same time , waiting to confirm wave (5) a downtrend, which is possible to begin with the confirmation to be far . We will see....
In case that we don't have breakout, then we talk about swing resistance in 0.382 (1.19100) area ,with completing of wave (4) at the same time , waiting to confirm wave (5) a downtrend, which is possible to begin with the confirmation to be far . We will see....
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We have also equalization of wave{v} and wave {iii}. Sorry for typing
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