Everyone has their own ideas and counts therefore I cannot say that I am right,I have been wrong many times therefore do your own analysis and use what works for you.
EURUSD has been declining from 16000 in 3 WAVES A,B,C from what I see on the charts.As one can see from the charts it has been mostly in A,B,C'S then onces there is an overlap it starts getting complex and morph's into WXY OR WXYXZ. 2 scenarios on the table A,B,C or WXYXZ. From 12560 prices are in the last phase of C&Z waves
from 12560-10777 for a C wave it has completed A then 10777-11490=B, 11490 is also 38% of 12590-10777, from here the price dropped to 10637, below 10777, this could be the start of the c of c, if so then it should not exceed 11490, exceeding 11490 then there are high chances that it is forming a corrective flat pattern exceeding 11470 upto 11610-11720 price range, keep this as an option for later.
from 11490-110640, price have tested the 50% level 11070 and now in consolidation or continuation to the downside.
if the C wave is a 5 wave structure then 1,2,3,4,5 or it could be an A,B,C WAVE, If it is a Z wave then the A,B,C wave is probable too.
10777-11490-10640 is of importance as this can be a setup for the 2nd wave or a B wave, assume it is a B wave formation for a flat as the B wave exceed 10777 to 10637 then the c wave should not exceed 11490 it will top out between 78%-90% of 10777-11490 = 11310-11410.
assume 11490-10640= wave 1 then consolidation between 11170(62%) or upto 11310(78%) for wave 2, so far it has got to 11065 50%
EURUSD has been declining from 16000 in 3 WAVES A,B,C from what I see on the charts.As one can see from the charts it has been mostly in A,B,C'S then onces there is an overlap it starts getting complex and morph's into WXY OR WXYXZ. 2 scenarios on the table A,B,C or WXYXZ. From 12560 prices are in the last phase of C&Z waves
from 12560-10777 for a C wave it has completed A then 10777-11490=B, 11490 is also 38% of 12590-10777, from here the price dropped to 10637, below 10777, this could be the start of the c of c, if so then it should not exceed 11490, exceeding 11490 then there are high chances that it is forming a corrective flat pattern exceeding 11470 upto 11610-11720 price range, keep this as an option for later.
from 11490-110640, price have tested the 50% level 11070 and now in consolidation or continuation to the downside.
if the C wave is a 5 wave structure then 1,2,3,4,5 or it could be an A,B,C WAVE, If it is a Z wave then the A,B,C wave is probable too.
10777-11490-10640 is of importance as this can be a setup for the 2nd wave or a B wave, assume it is a B wave formation for a flat as the B wave exceed 10777 to 10637 then the c wave should not exceed 11490 it will top out between 78%-90% of 10777-11490 = 11310-11410.
assume 11490-10640= wave 1 then consolidation between 11170(62%) or upto 11310(78%) for wave 2, so far it has got to 11065 50%
