nice risk to reward ratio; the risk worth taking.
zigzag ends at the previous trendline. there is a good opportunity to buy for another impulse.
it seems that 3 waves zigzag correction has been ended near 61.8% of prior impulse. divergence in play. now, there is no clue that this zigzag is end of correction or just wave W of a complex correction.
break of ending diagonal pattern is a good opportunity for entering long.
Break of trendline is a trigger for entering short
expanded triangle as wave 4. it seems that this expanded triangle has been finished and there is an opportunity for going short to catch wave 5. but remember that trading in triangles, especially expanded triangle is risky.
there is a short term opportunity for long setup this is a trade in corrective phase; so it has more risks than impulsive trades.
it seems that there is a rally starting for wave 5 triangle pattern as wave 4 has been finished. look at bigger picture on daily TF
Long term view gives us accurate trading opportunities in shorter timeframes
Now it seems that we are in 4th wave correction expecting another impulse up wave as 5th wave RSI is oversold MACD and RSI divergence (i hide RSI but its same as MACD)
Ling term view of EURAUD Now it seems that we are in the B wave of correction. Now in the closer look we are in (A) wave of bigger B wave correction this long term view leading to short term set ups
impulsive phase has been ended. now i expecting a corrective, and note that divergence in play. MACD cross is a trigger for entering short
we are in 4th wave of an impulse and it seems that A phase of an ABC for 4th wave correction has finished and price will go up to B and then again come down for C wave. if the correction is zigzag this is what will happen but 4th waves are always most dangerous waves for trading; if you want to trade this wave use strict money management and exit as soon as...
we are possibly in wave 3 of impulse. 1.618 fibo ratio is a common target for wave 3, also parallel channel of 0-2 from end of wave 1 is a minimum target for wave 3.
there is cypher developing on 4hr TF. IF bearish reversal candlesticks like bearish engulfing pattern or dark cloud cover or evening star forms at that PRZ, and still we have divergence on MACD, its a good opportunity for going short. PRZ completion for cypher is 78.6%