Elliott wave, long euro, wave 3 about to begin for FX:EURUSD by BuyBitcoins

eurusd bullish long elliottwaves ellliot eurodollar eurusdlong eurusdprediction euro eurusdbreakout eurusdsignal

All the annotations are on the actual chart. No rules are being violated and no other explanation for the wave 1 impulse. If the wave 1 impulse was indeed correction, wave A (Or B if it was a correction) would be lower than 61.8% minimum, but instead we have it at 50% of wave 1. This means Wave 1 was impulsive. With that in mind, Wave A and B are zigzag form with wave C impulsive (3-3-5). Wave C is an elongated impulsive that typically stops at 168.1% of wave A. Furthermore, wave 2 terminates just before wave 1, with a classic ending diagonal that slightly breaches the trendline, which is often the case.

I struggle to find any other explanation for the price action.

Note: The correction is a 3-3-5 flat. Note how wave B never exceeds the start of wave A, meaning this can not be zigzag.

Comment:

If I am wrong, please let me know why, I am eager to learn. Thank you for reading

Comment:

I believe I am wrong and danV is correct here:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.