FX:EURUSD   Euro Fx/U.S. Dollar
79 5 0
My Forecast based on elliot Wave Formation from Dialy Chart, i think the Eur/Usd             will go down for A Wave Correction ....

Please, Get ready for Sell Position by next week
dojitrader
2 years ago
Do you think the 5 waves up is a leading diagonal of wave 1 of 5 in the larger degree or wave A in an A - B - C correction ?
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mohammed.alhaffar dojitrader
2 years ago
i don't understand your question correctly, but, i can tell you that we can see Uptrend alittle bit, after that we will see the A wave Correction, for next week, i will take the sell order as short term postion to make few profit, then i will put buy position on B wave as long term position, do you agree with me?
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dojitrader
2 years ago
Reason I asked is under Elliott Wave rules wave 4 cannot enter the range of wave 1. to do so means you are not dealing with an impulsive
wave and therefore a corrective wave - some type of Flat, ZigZag, Triangle, leading diagonal or a combination of these. A diagonal, leading
or ending, is the only time wave 4 can enter wave 1. (there are a few times when a LD is a wave 1 of an impulsive wave, BUT, they are so rare
as to not even mention and do not lend themselves to trading as easy as other EW patterns)*they tend to form after long, long trending moves
and can sometimes signal that a bottom/top/trend change is at hand. EurUsd does not have this quality at this time.
Anyway, to know if you are working with a LD or an impulse wave changes all the calculations for entry/exist/profittargets -
as corrections from LD;s are usually short and shallow - easily missed. Plus it can confirm or invalidate a trend analysis at a larger degree.
I asked because I see this move off of the recent lows as corrective and expect a return to the down trend soon and if we do see an a-b-c
followed by new highs it will be in a wave C not a wave 3. Time will tell, as always. Chow ! And best of Luck !

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mohammed.alhaffar dojitrader
2 years ago
Dear Sir,,

for that , what do think about Eur/USD next week ?
i think Sell short-term, and after that buy long term, do you agree with me
Reply
dojitrader
2 years ago
I've been looking for another opportunity to enter short, but, i see the price action from the Nov lows as corrective in
a wave 2 double or triple zig zag and therefore I'm looking for price to trade below 1.3300 in some kind of a wave 3 down - not up. Wave 1 having started from the Oct highs shows a distinctly impulsive 5 waves down on the 4hr/2hr chart
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