According to Wolfe Wave strategy, we are at the begining of 5th bullish wave also i see some bullish divergences at macd and rsi on weekly chart.
In long term we can aim:
***Your stop loss must be our inclined support in this strategy.
What is Wolfe Wave...
Price previously breakout from the Triangle,
Goes lower towards -1.272 to -1.382
Fib projection where
price is now extremely cheaper to be bought.
Price keeps rejecting where it has now
compressed in a triangle.
Head & Shoulder is expected,
as price shall move higher
towards Key Levels ( 1.20489 - 1.20055 )
Infact when you Pull the Fib
from HIGHEST POINT to...
Hi Guys, My yearly forecast of eurusd shows some initial EUR upward momentum during jan-feb but after that we will see strength in dollar cause there is high chance it's gonna make last wave to downside making some kind of running flat in major corrective structure. right now euro showing high signs of more upward move. but its about to finish that big expanding...
There is lot of indecision in the market because of geopolitical issues and french election. As we are seeing price of dxy getting down very sharply but eurusd price is not rising in comparison.
Currently,price is in bearish flag with abcde wave. E point will be most crucial point because if it breaks then it leads the price towards 1.0810, 1.0875,...
If it is true that history repeats itself then keep an eye on the monthly chart in the euro. This chart shows the euro establishing a long term low. If the previous uptrend from the low at B to the high at C were to be replicated then the target can be projected at point E. Since this is a forecast with a horizon some point next decade, the focus can be...
Recently i have been making good percentages day trending/ scalping. now i have a bigger account i want to focus on the more longer term trades. to do this, i think Wave theory is the best bet to understand the psychology more. Laying out wave theory can be difficult, but this looks straight forward... Will look into the lower charts to pick up any lower fractals....
The perspective in the longer term:
Currently located around 23.6% of the abolition of inheritance from 1.3994 to 1.0463 level. After breaking the current price levels, demand side should move towards resistance level at 1.1495, where correction should be longer. Then Eurodollar will be ready for further growth towards the level of 1.1811 (38.2% fib abolition).