FX:EURUSD   Euro / U.S. Dollar
All information given inside the chart and i shared this for educational purpose only. Maximum i wont give the followup or update in the old chart posted as educational trade idea, sometimes i will...so please make sure if i posted the new chart for the same pair, it could be a possible wave count or update. Make sure that old one was invalid or possible or alternate wave and the new one is valid. Good luck and cheers.
i constructed an almost identical chart about a week ago. I’ve been on looking at ideas and everyone is so wildly off in my opinion. I came across this post and thought, “spot on”. Well articulated and good analysis. Glad to see someone with the same perspective. I’m looking to short 100 lots at that around 1.167
nmkvijay Williama22
@Williama22, thanks for your valuable comments and cheers...
My style and strategy is.... Wycoff, Elliot, Gartely, Dow and Gann are the legends in this trading markets...I didnt read anybodys book till now...i know the rules of Elliot waves and i practice that from 3 years (1 year as a fulltime) and i start to earn money now. The above 5 legends are in different styles...but everybody succeed in their field. Thats why we are followers of them. Every theory has a + or -...that mean nearly 60 percent + that is a success in this field(for me).So take that success ratio, and if the 40% failure in market we can revocer or minimize the loss because of 60% success. (So, 60-40=20% is your success in 100%) While I analyzing the market, i found approx 10 tradesetup( max limit trade setup) and i posted them all...why i am entering into the market and the reasons...in that 10 trades only 5 trade setup may trigger and the rest 5 will be invalid setup.

In that 5 tradesetup only 2 tradesetup will hit the TP and remaining will hit the SL. (if 5 stophits means 5% is loss..till now not happen) So in deep... my risk reward per trade is morethan 2%(1:2 loss 1% and profit 2%) so finally in 2 tradesetup i earn 4% and 3 tradesetup loss 3% remainin 1% is my PROFIT out of 10 tradesetup. So if u follow me u need to take all tradesetup...then only u can earn 1% from your capital. So dont follow me blindly. The wave count done by is fully manually by me and it can change anytime according to the live trading price action.Dont bias on this trade idea and the wave count. Following is not that much easy. So, try to learn and create your own strategy and earn. I am not responsible for any losses. Thanks lot.
1. This is a daily chart and the high 1.2555 is the wave "a)"(redcolor) ended and we are in the correction after that.

2. From the high to low 1.1510 is a one complete set of correction finished and i marked as wave w) (blue color).

3. After that, the wave X) is a running flat it went below wave W). This is a complex correction and this is a connector to the

next pattern continued to the downside.

4. In previous trade idea i posted here it may go to 1.1870 and that is in a different wave count. But now i am satisfied

with this count. In previous i thought it may be a zigzag pattern. Now i changed my view .

5. All Elliotician counted from the high to the low made 1.13 as a 5 waves...it is looking like that but in detailed view

for me its looking in different and to be CONTRARIAN. May be my this view could be a wrong too. Dont bias on this.

6. I explained both possibilities, If it breaks the high 1.1820 it may go to 1.1900 zone and coming to the downside means

the previous zigzag pattern what i post previous is in action.

7. If it break the low 1.1300 then this could be this pattern what is shown here.

so trade carefully. Without knowing EW and following me is a tough to trade and you cant understand what i am expecting

in the waves and the patterns looking for.

8. Currently i am expecting little down to the 1.1450 zone and to the upside in 3 waves structure as shown in the chart.

9. After it reached that 1.1620-1.1670 in the 3 wave structure then we need to enter as SHORT and place a stop @ 1.1820

and first target is 1.1290. Positional target is 1.1100 i am expecting.
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