1. 8/13 EMA daily timeframe crossover has triggered a bullish sentiment 2. Retracement of the previous swing is 0.786. 3. Current projected of is 100% of the previous swing pattern could be 3 or 5 wave move. MERRY CHRISTMAS AND A HAPPY NEW YEAR.
From a weekly point high to low, the retracement to 0.236 was completed. with the previous wave failing to make up to 100 Fibonacci extensions, ruling out a possibility of a Wave 3 weekly and to a Running ZIGZAG. 4hour timeframe forming wave 1 daily.
My last trade target got reached so I currently I'm updating my trade Idea from a weekly point of view (Blackline draw) are weekly support and resistance. 5 wave impulsive move completed and a triangle corrective, currently projecting a 5 wave impulsive move.
Macro currency view and Elliot wave pattern. What currently could be a long-term impulse move or a corrective with a 5 wave internal structure. Wave 3 is an extended not likely to pass my current target.
The idea is still strongly active. Weekly timeframe WAVE 2 With Wave 1 on the daily timeframe completed. A 5 wave internal structure is seen. A corrective Wave is (ABC) with a 0.5 retracement zone is completed. The next probable wave is wave 3 the longest and sharpest trend. This trend has a higher probability of being extended to extension zone 2.168. The...
3 wave pattern Two patterns completed, 3 joining wave patterns completed. Making the next wave either a 3 wave or a 5 wave. It traded to a retracement zone of 0.5% which is the point of entry in a corrective pattern for some of us Currently, futures short covering is an extra condition to go long, LONG
Retracement zone 0.5, Previous swing move was extended likely to be a wave 3, Current wave bias is a failed wave 5.
Wave analysis 3 wave W, (3-3-3-3-3) X, Next wave pattern probably 3 waves or a 5 wave DOWN.
Weekly structural correction wave 2, Huge move down for a weekly wave 3. The internal structure of AUDJPY wave 2 weekly is ABC DAILY.
MONTHLY TIMEFRAME 1. The pattern is highly likely to be a corrective (3) WAVE pattern to the downside ((W-X-Y)) 2. The internal structure of the monthly timeframe (Weekly) has an ABC with a (3-3-5) pattern making this point ((W)) of the monthly time-frame. WEEKLY TIMEFRAME 1. The internal structure on the Daily timeframe forms a 5 WAVE impulse move,3...
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A really nice swing move analysis, A reversal down as we have seen the top of the trend
3 Wave internal structure, Joint together to form a larger degree wave. With a possibility of a 5 wave to the upside. The 5 wave structure to the upside is categorically dismissed the internal structure of of the said wave when its a 3 wave and not a 5 Wave hence, giving a new structural to EURNZD. Currently biased towards a (3-3-3-3-3) Wave market structure.
Alternate revision to previous analysis.
High probability trade The analysis begins from the Daily timeframe to the 4-hour timeframe execution zone . 5 wave structure complete with multiple wave structures currently in a 3 wave pattern internal structure (3-3- ((with a possibility of 5 to follow))) Considering where wave B has ended we should consider a high probability that wave C might only go...