EURUSD: Making It's Way Up In A Long-Awaited Wave (C)

FX:EURUSD   Euro / U.S. Dollar
2781 7 39
So how long have I been waiting for this wave (C) up? I posted this chart 5 months ago:

See that black wave (C)? That is what should be happening now. Why is it so important to get that right? Aside from the part that this wave (C) will yield a lot of pips on its' own as it goes up, the finish of this wave (C) means the beginning of the wave 5 of the larger wave back down and THAT will mean A LOT OF PIPS! But let's deal with what is going on now first.

In this 4HR chart, we are looking only at the wave (C) subwaves and breaking them down for the trading opportunities. That large wave (1) up which I predicted to occur 2 months ago (see this post: "(T) EURUSD             - Wave (C) Now? Predicted 5 Months Ago. Today...BAM!") set the stage for this wave (C). After that wave (1), prices consolidated for weeks in a wave (2) before fairly exploding upwards in what is currently wave 3. Within this wave 3, it seems prices have just completed the wave ( iii             ) of 3 and is now in the wave (iv) of 3.

There is only 1 pattern of consequence here and that is the POTENTIAL Bat that would be better seen on the DAILY Chart below.




Prices should be declining some more in a wave (iv) but not for much. Prices are already resting on a MAJOR TL with a B Point slightly below it. That should provide the support needed to end the wave (iv) and begin the wave (v) up to complete the wave 3.

I'll wait until prices decline some more into more support area and watch for bullish PA to announce that wave (iv) is done and that wave (v) is starting to BUY into the larger wave (C) up.

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Hi Great to see your view.
I unfortunately missed the latest upswing as my order is set at 1.107.
Great to learn from you.
Many thanks again.
My order is still setting on the same level as yours Mx70, waiting for the big up move, i think what was happening yesterday is that price action was forming a double flat with an (x) wave to the upward in between, i still have hopes that the price action will hit the 1.106.. area and then bounce back impulsively again in 5 waves to complete the 5th wave of the bigger 3..lets hope i am right as i have been also waiting for that move for long time :-)
Good Luck!
well, that is what I think should happen. Up to finish off the smaller 3 of (3). Then down for the 4 of (3) and then up again to finish the 5 of (3).
+1 Reply
I think it all depends on what Yellen has to say this wednesday - if she's as pessimistic as Dudley, we might hit 1,14
Thank you very much, amazing charts, & great work.
you're welcome
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