EverythingForex

FULL ANALYSIS: EURUSD: Still More Downside To Come.

FX:EURUSD   Euro Fx/U.S. Dollar
767 7 20
In this FULL ANALYSIS, what I will do is a little different. I'm presenting 2 MONTHLY charts here with my ananlysis on both. I will be posting 2 FULL analysis based on each of these MONTHLY charts. You can follow one or both if you'd like. The reason I'm doing this is to illustrate just how I go about my trading. It's A LOT of work. So I hope you will get something out of it. Please be patient as I am still in the process of creating the FULL analysis of both and will post when ready. Unfortunately, tradingview does not give the option for time-released posting. So I can only post these MONTHLY charts and then go to work on the lower time frames after publishing this. So without further ado, here we go......

Theorem - An educated guess based on a set of established rules

In analysis, this is all we do. Is put together an educated guess. How well the guess does is based very much on the person who is doing the guessing. A history of guessing well leads to a system that performs well over time.

So what I am showing here is a part of my system that I employ to make my "guesses" as to what is to happen. Yes, I know what I do is somewhat more complicated and in-depth than others. But I'd like to think it's complicated in a simple way. It's more hard work than anything else. But who said trading was supposed to be easy? Only those that are continuously looking for the Holy Grail, I suppose.

Anyway, what I am showing here is 2 different wave counts. One is the overall wave count of the price action (left). The other (right) is a wave count based ONLY on the internal wave structure of the POTENTIAL Bat. Yes, advanced patterns do have their own internal wave structure that is independent of the traditional overall wave counting. And they don't necessarily need to "fit" into the overall wave count to be valid.

The reason I wanted to show this side-by-side is to show you part of the process that I employ to analyze charts and make my trades as high probability as possible. When you look at the 2 charts, you'll see that there are plenty of similarities. But there are also subtle differences. It's when the differences between the 2 match up that there is a high probability trade that could occur. We had that with the drop from the wave 2 down. Both were calling the same thing.

But what we have now is some slight difference of opinion between the two. If you'll look at the current price action, what you will see is that in the left chart, I am seeing a substantial retracement of a COMPLETED wave ( III             ) whereas on the right chart, the wave 3 is NOT finished, yet I am still seeing that there is to be some form of upward movement in a SMALL retracement of the wave iii             of 3. When that wave iv retrace is done, then prices would head down probably sharply to complete the wave 3. Then we will see a larger retracement up in a wave 4 before finally dropping to complete the Bat in 5 waves.

So what both charts essentially are saying though there is a difference of how, is that there is much more downside to come. But in the current, both charts are showing that there will be some upward price movement coming. Just a difference of how much is all.

Though I may not post here quite as often like before, I do continue to post much more to my own Faceb00k group (where I can BAN any TROLLS!). So if you would like to continue to see more of my posts as well as some of my trading tips, join my Faceb00k group at: www.faceb00k.com/efxselect (replace the "00" with a "oo")

Do you want to know exactly how and when I trade this pair? Want to be among the first to know? If you desire to receive ALL my analysis on pairs I trade and cover as well as REAL-TIME trade signals, consider joining my private group and my members. You'll get REAL-TIME trade signals and analysis as the trade happens and discussions those trades live. Interested? Go to: efxselect.com for more info.
BIG NEWS! Want a FULL WEEK of FREE ACCESS to my member's charts & analysis? If you want it, PM me! Also, for all who PM me, you will be entered to win a FREE MONTH'S Subscription! PM me for details!
*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I can know my post was helpful to you. As always, any CONSTRUCTIVE comments are welcome whether AGREE or DISAGREE.
Reply
GoodLuckbabe
11 months ago
The next round of increase
only you are the one who's is thinking there are more loses downside and i am fully agree with you some traders thinking euro will rebound from this level which i dont think so here is the rough picture which shows to me triangle breakout and retested confirmation.
Reply
GoodLuckbabe
11 months ago
sorry that was wrong image
Reply
GoodLuckbabe GoodLuckbabe
11 months ago
snapshot
Reply
GoodLuckbabe GoodLuckbabe
11 months ago
here is the eurusd picture
Reply
EverythingForex PRO GoodLuckbabe
11 months ago
Uh...yeah. I think that is what I am saying in this post. that there is more downside to come.
Reply
GoodLuckbabe EverythingForex
11 months ago
yes you are wright and price is heading towards your predicted way very nice analysis cheers for good work mate.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out