This pair has been trading in correction pattern for few weeks.
As per the Fibs, the correction is almost complete. Break out below the trend line confirms the completion of the correction and can be a good time to go short.
Please be mind full of the invalidation point.
As per the previous projection(Link below) Price did react at 38.2 retrace, however the pair formed a correction pattern and stopped me out at Break Even.
Break out downwards with an impulse pattern indicates that another wave is unfolding to complete the Wave 4.
This pair has been trading inside Wave B in a complex correction.
Currently at .618 retrace of Wave A with a nice divergence at multiple time frames.
Break out of the correction pattern should give a nice buy set up.
After a long and tiring impulse wave upwards., Ideally there should be a correction.
This Wedge pattern at .618 retrace should most probably give another impulse wave down to complete full correction.
Selling the break out should be a good sell setup.
EURGBP has been trading inside a wedge pattern for few days. Break out of the wedge upwards should give an impulse upside.
I have been watching this pair for a week for this correction pattern.
Below is the higher time frame analysis I had last week. This should give a justification for the impulse wave expected.
EURCHF has been trading inside a range from past two months.
It has also been forming Divergence all the way.
As Wave 4 is at .382 retrace of Wave 3.., it is time to look for a nice bullish set up to trade Wave 5.
Wave 4 can sometimes pull back till 50% retrace. Good timing and money management can help us bag the up move of Wave 5.
This pair is still inside a long term correction pattern.
Inside the long term pattern, a bullish move is expected to complete a shorter time frame correction.
Completion of short term correction(1:1 ext of A vs B) is in confluence with .618 retrace of the prior impulse wave.
High probability of price testing .618 retrace before turning down to complete the...
Most elegant part of Elliott wave is Alternate wave count.
It is the same thing which scares people out of this methodology.,I believe it is scary only if you don't know how to use it.
I have published an AUDUSD idea for a long set up. While i am still waiting for the trade to trigger., My Alternate wave count shows a set up for short trade.,
If we can use...
Pair is ranging inside a correction pattern. This correction also fits into an Elliott Wave correction pattern.
Break out of the correction pattern should give a short term impulse wave testing the higher time frame trend line.