The price is in Weekly/Daily ascending channel (green). Now, forming a falling wedge (bullish signal).
The Fib C is at 61.8%, where price made bearish engulfing pattern to head south.
D1 target is in line with 0% of AB swing and ascending price channel (8271), on break of this next target is D2 at 8040. However, I am expecting price to come at 8271 and then go...
The price is in range between 121.52 and 116.10 for quite sometime. Furthermore, price is making descending channel now that aligns (lower channel) with bullish cypher pattern at 117.09. One can look to buy at that level for potential profit at upper channel.
Trading is all about confluences and probabilities.
Price made double top at 0.7890 and making range with neckline at 0.7573
Price now is making a bearish bat pattern whose PRZ (potential reversal zone, also potential triple top) is in line with structural resistance offered by double top and 38.2% Fib C.
The overall trend is bearish. The price has retraced to...
Earlier price made double top and broke the neckline, forming the range. It broke the range and next target was 1.0393. Now price is making pullback to retest previous double tops to form triple tops before heading south. One has to monitor PA near 1.0715 to short EURO for T1= 1.0715, T2= 1.0393.
The price is forming bearish Bat pattern...
I am new to Elliot wave. Opportunity to capitalize on wave 5. Wave 4 is testing 50%Fib level, which is on confluence with structure of wave 1 (acting as resistance). Furthermore, wave 4 is forming rising wedge (bearish signal). The next expected move is retest of structure (wave 3) and to -0.27 Fib D.