__SpecialFX__

4H Wave count showing one more leg up

FX:EURUSD   Euro Fx/U.S. Dollar
EURUSD             has been in an uptrend for the last week correcting against a larger downtrend.

The 4H wave count shows there is still one more leg to the upside to complete before the larger downtrend once again resumes.

Fundamentals (Todays FOMC meeting) can drive price lower towards 1.0971 the 76.4% Fib, before turning higher.

Targets for wave completion fall at 1.1167 with a likely overshoot, That area marks the 76.4% Fib of the wave of a larger degree
we have the same setup
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Are you looking at a harmonic setup? Noticed you have some harmonic charts up
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nezyrinfx __SpecialFX__
yep i am! but i seldom update.
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Sounds good. Have had my eye out on the big Gartley developing on the EURUSD Daily and DXY for a while now. Solid setup if we get there
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nezyrinfx __SpecialFX__
LOL! i have been stalking that EU gartley since 6 months ago..u can even see that in my harmonic chart. just need this 1.07xx to be the low before we pop hard to the upside...the same as DXY too :)
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So many Harmonics patterns on the daily... the bat pattern to 1.1470 then the Gartley from that level. If you start posting again let me know, I'll follow. I mainly trade EW but like how harmonics ties into the whole thing
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nezyrinfx __SpecialFX__
harmonics,fibonacci levels, EW are cousins :) i will keep up updated if i ever do post again.
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it completed the wave but it did not pickup my entry at 1.09624. :(
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I'm showing one leg down completed as well. Can still do a double, but doubtful. I'll wait a bit and enter at London open.. Momentum down is quite strong still.
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nezyrinfx __SpecialFX__
looks like one leg down towards 61.8% of that upside move. 1.092x.. the golden ratio..
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There is still the 88.6% Fib right here at 1.0950 -
Waiting for some kind of reversal sign to see if it's going to hold before invalidating the count
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Looks like the spike took out the X lows, which invalidates the count.
At this point the view would be that the entire structure is a completed wave. A double correction is still possible from current levels 1.0920-1.0935. But not as good of a setup as playing the C wave in Y
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nezyrinfx __SpecialFX__
it is complete now for the bullish bat. will need to see reversal from this area onwards.
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nezyrinfx __SpecialFX__
i took long at 1.0930. target 1.1050 only. will see how it moves after.
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