its_new_wave
Long

EURUSD: Rise did not end

FX:EURUSD   Euro Fx/U.S. Dollar
I have waited the correction at 1.11 level, but there was more deep to 1.1065 with combination structure - double zig-zag .
The depth of this correction may say about happen alternative count:
1.128 = wave (3)
1.1065 = wave (4)
It is does not much important, because it is does not cancel rise again.

The structure of correction looking ended, although movement from 1.1065 does not look a clearly impulse wave:
a. wave count: double zig-zag
b. rise after wave y break level of wave x
c. RSI low level

I think this pair have a good chance for next rise from this levels: at least will try to break down maximum of 3rd wave 1.1288 with next level at 1.14

Related Ideas

Jojatekok
2 years ago
This one is perfect!
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its_new_wave Jojatekok
2 years ago
Thanks for comment.
But in your idea you are waiting a bearish trade ;)
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its_new_wave
2 years ago
UPD:
On this screen I marked waves in rise from 1.1065
Now its looking like a clearly impulse wave. The pair did wave i, wave ii and doing wave iii now. I have opened a small order when wave ((I)) break extreme level of wave i.
The next levels for rise at 1.143 (for wave iii), 1.145, 1.152
snapshot
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its_new_wave
2 years ago
If it is interesting for someone, I put 1H chart with description what happened today and why price fall down.
snapshot
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