Hello, right now this is my prefered count for the EURUSD. A leading diagonal is unfolding. According to my long term analysis this pair already bottomed and will keep going to he upside with some choppy price action. A leading diagonal is a motive wave structure, with 5-3-5-3-5 internal sub-structures. We can see some structures very clear and others not. This is because this pair is too manipulated by central banks and the price action is not moving naturally. After the leading diagonal is completed prices usually makes a deep retracement to the 0.50 fib or more. Definitely more choppy price action expected, right now better to choose other pairs. This is MY WAVE COUNT, i respect always others counts and views.
Best regards.
Comments
resurrector007
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W-X-Y and another rundown on the EUR.... to 0.80-- hows that?
FullTimeTrader
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Hello, that is an alternate count i'm considering also but price action is not following it. Right now this is my primary count. Regards.
FullTimeTrader
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According to my long term analysis this pair already bottomed. You can check that post.
resurrector007
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yup likewise i also anticipated that but purely looking at the wave counts you have, you may want to re-analyze if (1) is a 3 wave move. Also observe closely the internal waves, (4) looks like a 5 wave move.
FullTimeTrader
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Hello, in real trading it is very rare to see a clear 5-3-5-3-5 structure within a leading diagonal, most of the time price action is choppy and overlapping so elliticians have to "assume" it is leading diagional looking at the overall structure. Regards.
Heelfan23
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Head and Shoulders on 4hr short?
FullTimeTrader
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Yes! nice opportunity to short, im already short from 1.15000. Regards.