FullTimeTrader
Long

EURUSD-is clearly changing trend - why dont we seet it?

FX:EURUSD   Euro Fx/U.S. Dollar
4026 22 54
According to my previous idea posted one month ago:
EURUSD-time for a rebound?

I think this pair reached its bottom. After that the price action shows clear signs of a trend change
This is and updated monthly chart analysis:
snapshot


I think the parity is the less possible scenario now. We are blinded by the "experts" who are talking about the parity months and months.
We must look at the price action and not listen to others people opinions.

Looking at w1 chart we can see a new EW cycle is beginning:
snapshot

A sequence of HH and HL is starting

Lookin at D1 chart we are at the middle of wave III             (more exactly wave 4 of 3)

If this setup works the price must reach the 1.200 level and more.

I marked with yellow labels the possible entries.

Best regards.

Keep it professional dude. Nice plan. Execute it :)))
Reply
Nice setup. By d way 1.1995 - 1.2000 about right for this rally - I see Gaps need filling and ur wave 5 should support the theory. Still see a slightly strong dollar in May but that means better entry to long Euro.
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I like your analysis, but don't know if it will rise before dollar met resistance once again...
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Yahia.Awes Yahia.Awes
I'm looking for the eclipse to be hit or the bottom channel to be touched.
snapshot
+1 Reply
Yahia.Awes Yahia.Awes
I believe it will be bullish if we break through that red line which shows a bearish div on daily, seems to be confirmed by the bend also.
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FullTimeTrader Yahia.Awes
That trendline coincides with the end of wave III, i expect a rebound there and then the bullish trend to continue.
snapshot
+1 Reply
IvanLabrie PRO FullTimeTrader
I'm seeing a similar thing on AUDUSD now...Rising on bad news.
Weekly chart looks ridiculously bullish.
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Isn´t a Bearish Gartley pattern just fired?
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Hello, its true. But not ALL the patterns works, most of them just shows some reaction around the PRZ (some of them works fine off course). I prefer to use them in confluence with other reasons and the overall market enviroment. From my point of view the gartley already did its job and now my bias is long from current price.
+1 Reply