Potential Wedge, 3 Drives(Non-Ideal). IHS measured target reached from the lows(Fibonacci confluence(5)), retesting support, with WW characteristics.
Comments
IvanLabrie
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I don't think the ending diagonal is complete.
You need one zigzag per leg, and I think it starts a bit earlier than yours.
I foresee one new low then bang, up.
rv
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possible of course. i agree with all, except the "need" per leg, sounds too much.
IvanLabrie
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Just going by the EW rules.
It could also be something else.
I'm also bullish here, I got out for now, waiting to go long again.
Saw my eurusd chart?
IvanLabrie
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rv
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sure. but i have not mentioned EW on this one.
Checking on your chart as we speak. thks
motleifaul
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I agree. We just saw a 38.2 % retracement of the previous fall. It looks like if it doesn't have the power to continue, so that the fall should go on.
You need one zigzag per leg, and I think it starts a bit earlier than yours.
I foresee one new low then bang, up.