iwavetrade
Long

Riding the waves

FX:EURUSD   Euro Fx/U.S. Dollar
86 0 1
My last prediction has the wave-c traveling a lot further south. Unfortunately, the wave-c failed to reach beyond the wave-a (expected an expanded flat) in the wave-X position.

This oscillation has created a range with lower highs and higher lows. This is typically indicative of a wedge/triangle pattern and has changed my bias for EURUSD             from reaching 1.2 price area to now turning and reaching 1.4 - 1.45.

At the moment, we'll have to wait for confirmation of the wedge by allowing wave-D to finish and watching the subsequent wave to move back towards the lower trend line. I have not determined the type of wedge this is besides that it is of the horizontal type. I doubt wave-c will be surpassed since the amount of time the wave itself took to not pass wave-a

In conclusion, it's unfortunate the fall didn't continue as expected and we were left with price basically going nowhere over the last few months; however, this leads to a much easier, identifiable analysis.

A break below wave-c would negate this pattern.




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