EverythingForex
Long

EURUSD: Almost Completed Bullish Bat May Signal End Of Wave 4

FX_IDC:EURUSD   EURO / US DOLLAR
2022 24 32
And start of wave 5 up. Yes, it's the moment we've all been waiting for! And it might just be here. If you follow my posts, then you know that I am VERY BULLISH on this pair and am expecting a HUGE multi-week, multi-month wave (C) up that could possibly retrace 50% or more of the previous wave down. That's A LOT of pips, folks!

But for now, just interested in getting in on the "ground floor" of this potential big move coming up. My wave count on this wave 4 is shown and it had unfolded in a 5-3-5 ABC zigzag with the 5th wave of the last leg coming to a close soon.

MY TRADE PLAN
Simple. GO LONG! I'm actually already in LONG now (as of this post) and will hold onto it even if prices continue to decline to complete the bat.
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Long as well, and will be for awhile - GL!
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I see on screen is meant seller has taken control back from buyer, is still possible to upward..? CMIIW thanks
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EverythingForex PRO suprijadisoemoredjo
Hmmm...I don't know where you see that. Regardless, sellers control doesn't mean anything to me. All that can change instantly. GL!
+1 Reply
suprijadisoemoredjo EverythingForex
that is market, anything can happen
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thank so much.
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Looking at the same thing... Looking for longs... Not sure about where the bat begins and ends though... Couldn't X also be drawn lower, around 1.1015?
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Sure, It could be. But there is a reason for drawing X where I did. Locating the proper XA leg is a skill in itself. Without that mastering that skill, your patterns will be hit or miss. But as you know if you have been following me for awhile that I am not a pure pattern trader. I use the art of harmonic wave trading. Basically, combining advanced patterns with Elliot wave theory principles. The reason that I did not draw X lower is because if I did, the bat's D point would then violate my wave count. Do you see that?
+2 Reply
glennmercer PRO EverythingForex
One thing I noticed is that both 2 and 4 are sharp corrections, so you might have a (1)-(2)-1-2 instead of a 1-2-3-4. And if this is the case, the bullish move will be even more powerful.
+1 Reply
Correct. Good that you noticed that. It is exactly what I am expecting. A powerful and extended move up. Good point.
+2 Reply
KVE EverythingForex
Thanks alot, I couldn't agree more, the edge is often in the combination of techniques!
Your D point is actually also close to a former triangle down-trendline and also to an up-trendline showing on the 4H charts, so you could be spot-on!
But trendlines are ofcourse highly subjective...
In any case, will monitor PA at that level closely!
Thanks again, cheers!
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I agree with KVE, that point X for bat can be low
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EUR/USD LONG AT 4HOUR

i am inclined to believe that the position right now is more likely to be a end of wave 4
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hi... so, by now what gonna happen to this patern?
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nothing yet. the pattern has not been filled so there is nothing to do but just wait.....
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so te price didnot hot the point D. so are you still long on this pair? what is your reason to go long even if the pattern price has not been hit?
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Please go back and read some of my previous posts while being PATIENT and waiting. Part of the art of being a successful trader is PATIENCE!
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fairieyizwan EverythingForex
thanks bro... Being a successfull trader need to PATIENCE.
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Sorry if I sound ignorant but is this an Elliot Wave Theory based trading set-up?
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EverythingForex PRO barry_fxtrader
It's just part of the setup. Not all there is to it. Many other factors go into any trade I take.
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VincentWhiting EverythingForex
looks like E/U going to get to your 1.1129 area. Are you still bullish with this pair?
thanks,
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EverythingForex PRO VincentWhiting
VERY BULLISH!
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Am buying from trendline which is the end of wave from your chart

Still Believe EURUSD is in uptrend,BUY the bounce of Trenline
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Looks good.
+1 Reply
good thinking
+1 Reply
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