I reviewed the wave counting. Thus, we consider three time periods: - Day - Weekly - H4
==Weekly== tradingview.com/v/asqb1OS3/ EURUSD is very similar to the GBPUSD. While EURUSD updated their Minium, GBPUSD only the first wave forms Look at the GBPUSD (links below)
I assume that: - Wave (W) has taken the form of a truncated zigzag ABC or (W) - Wave (X) has taken the form of a double three - Wave (Y) takes the form of a zigzag ABC. However, (W) (X) (Y) forms a double zigzag. According to the rules of a double zigzag: Wave (W) and wave (Y) are the only zigzags. Wave (X) can take the form of any correctional model.
Given the size and depth of all the waves I think this layout is most likely.
Alternative: With the development of the upward trend can be seen as the main option is correct markup. If the price will rapidly grow rapidly, it would mean that (W) (X) (Y) have been completed and a new uptrend in the form of wave
==Day== tradingview.com/v/akG6MJbt/ A wave of the (Y) takes the form of a impulse. Possible price reversal in the arae of 1.077 (176.6% of the FIB )
=== H4 === tradingview.com/v/cXS56OXU/ How much will a deep fall, is not yet known. Indicators oversold, gradually formed divergence. But a clear signal for the purchase of none. A further drop to 1,070 (50% or But, it is possible and turn with the current prices. But I doubt it.
You are getting close. :)
The wave (V) completes a third wave that continues the second wave at 1,28859. On the Elliot wave oscillator you will find a divergence with the price on the daily.
ALEX-Z
⋅
Look over time who's right :)
AristotelCostel
⋅
I always do that. :P
Barker123
⋅
I have bullish butterfly on my daily weekly and monthly, strangely enough I had the same on last months NFP. And EUR/USD went up for about 5days. I guess situations change all the time. But it might be that some traders bank profits for the next couple of days, which means that it might go up. The other thing that is different this month is that the ECB is talking on Monday???? I guess we will have to wait and see.
MACD does not always determine the end of the wave. In most cases it gives false signals. But thanks for your opinion.
ALEX-Z
⋅
At the time, the MACD has brought me a big loss in trading on the waves, about 150 points at the size of the lot = 1000000 (1P = $ 100 = $ 15,000).
I use it very rarely in determining the depth of the market.
AristotelCostel
⋅
I agree. However, I do not predict the end of wave III. The divergence can take some time to finish. The important thing here is that this divergence signals a third wave.
ALEX-Z
⋅
Wave counting - changeable. Let's see what will happen in the future :)
The wave (V) completes a third wave that continues the second wave at 1,28859. On the Elliot wave oscillator you will find a divergence with the price on the daily.