Hello traders, I would like to take your opinions on this Elliott wave study that I just made. According to it EUR/USD is now trading in the 3rd subwave of the main 3rd wave which is the longest which is gonna send this pair for the near-medium term below 1.12. Please comment if You agree. Thank you Trade Safe
Dear Ramzi, wave number 4 of lesser degree between dates from 24th September to 13th November extends above price range of wave number 1 of same degree. This does not comply with Elliott wave theory rules.
RamziAbouAbdallah-CMT
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@LuboslavSemko, That's true .. I'm new to Elliott wave that's why i asked your opinion which is highly appreciated , thank you !
UnknownUnicorn3100550
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@RamziAbouAbdallah, You are very welcome. Working with Elliott wave theory is a lot of work, wish you strong nerves into future.
RamziAbouAbdallah-CMT
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@LuboslavSemko, which time frame do you use for Elliott wave ?
UnknownUnicorn3100550
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@RamziAbouAbdallah, Usually I go from larger time frame towards smaller time frame.
PatrickShip
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I see head and sholders here, what supports your idea of going down
RamziAbouAbdallah-CMT
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@PatrickShip, I'm still new to Elliott wave theory so it might not be accurate but I don't see head and shoulders here. What support my idea are technicals and fundamentals all in favor of the dollar.