its_new_wave

EURUSD: Elliot Wave count

FX:EURUSD   Euro Fx/U.S. Dollar
Ok. Last week we had a good rise and I have closed the long position, which opened at 1.09930 (when wave 3 shot up and breakthrough wave ) and closed at 1.11961 (stop lose in wave 5, which has a leading diagonal)

I think, this rise did not complete and the pair just do a correction. Now it is looking like a zig-zag patter. The pair had completed wave a, seems completed wave b and next step it is wave c. If look on the chart, we see, that expected level will near the price 1.11. I decided it because:
a. the Fibo Retracement level at 38.2 % (common retrace for wave four)
b. proportion between waves a and c: a = c
c. After leading diagonal correction usually going to the point, where is diagonal started. (1.1115)
d. Parallel channel for wave (3)

Anyway, I am prefer waiting and looking how correction will develop. When correction will complete this pair will have a excellent opportunities for grow and complete wave (3) or wave (5) (for alternative count) with first target at 1.14.
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