As easy as A-B-C?
PS: I am a beginner Elliott Wave analyst and would really appreciate any kind of comments on this analysis.
It's always a good idea to wait for price action to confirm the direction of the market, and as thus, do not rush to any conclusions!
HAPPY TRADING WEEK! :)
Let's count waves.
Do you see the same potential upside for this pair?
I am a beginner in Elliott Wave Analysis and this is my sentiment.
The minor impulsive wave in RED has been completed and corrected via an ABC structure with 5-3-5 sub-waves.
The parallel lines connecting the end of wave B and the end of wave A usually forecast the end of wave C as...
General major uptrend.
The market finished a wave 3 rally.
Expecting corrective wave 4 as an ABC pattern.
Price action confirmation.
Entry short, then long.
Set price alerts for market price as on chart and monitor.
Clear general major uptrend from WXYXZ correction.
Price currently correcting a wave 3 of an impulse.
Wait for the completion of the correction, then ride long.
Suggesting you put an alert when the price hits 0.85600 and watch for price action confirmation of a buy.