Sokow
Long

Week6: EURUSD will rise

FX:EURUSD   Euro Fx/U.S. Dollar
We saw a very strong week in the EURUSD             .
I believe we should get a small correction and a sharp wave 3 in green. Ultimately we should get a 5 wave structure which will form a wave (c) in red and complete wave 4. This move up should find resistance at the last wave iv in green which has is a triangle.
After this structure is complete we will see a move down (again in 5 waves) which will complete the 5 wave down move from May 2014.

Bigger picture:
If we look at the weekly chart we can see a ultimate target near the 1.02. Please click on the image for more details (I've chosen a to small font size - sorry).
snapshot

Even bigger picture:
Lastly let's check out the monthly chart. Please click on the link to see the chart.
We see a 5 wave structure and a correction in progress. There we have 2 support areas. The first one is the price cannel and the second one is the 50% fibo retracement.
http://www.bilder-upload.eu/show.php?file=2ffbb2-1428846721.png

I wish you wonderful trades and a good week!

PS: I'll keep you up to date!
Hi frd! Thanks for sharing! I lost my C already times thought we are finished with correction and now found with your update!
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Go long if we break above the previous high or at the 0.618 fibo of wave 1 (in green). Good luck!
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The market opened with an upward gap and is moving down now.

snapshot
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aibek Sokow
where do you expect wave 2 will finish? 61.8% of 1?
+1 Reply
Yes, somewhere between 50% and 61.8%.
I'm going to trade with two positions. First position opens at 61.8%, second at the break of previous high splitting the initial risk in two parts.
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aibek Sokow
Thanks
Currently I see it as iii of 1 of C
snapshot
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Do you have a bigger picture where I can see the complete wave count?
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aibek Sokow
It is the same in big picture as yours. Above I put microwaves inside of wave 2. I meant it is iii of 1 of C of (2
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Everything works as expected ;-)

snapshot
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We've got another impulse move down and now we have a wave 3 in place. Stay tuned and good trades :)

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Now we also check out the 30 minutes chart to see the internal waves. We have a complex correction (w-x-y) with unfold in three subwaves.
Wave y (in white) is an irregular correction with a wave b which tops the starting point of previous wave a.

snapshot
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aibek Sokow
Hi Dominik, could you pls show inner waves of current wave 1 of (3) on 5-15 minutes which is in progress?
Thanks for update as thought 2 is your W
+1 Reply
Hi, as you requested here a wave count of the inner waves.
I'm unsure if wave (3) in white will reach a higher level because we have a 100% fibo of wave (1) and the top of wave 1 (in green) - see bigger picture. This is a strong resistance point. I'll keep you up to date ;-)

snapshot
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aibek Sokow
thanks I did same but different micromicrowaves )))
where wave 4 will stop you guess? I covered long
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aibek aibek
I think 3 is done
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aibek aibek
snapshot
+1 Reply
Well done!
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aibek Sokow
Hi Dominik, I guess 4 is done as already iii of (i) of 5 started
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aibek aibek
Hope 2 of (3) is done
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