Strong confluence zones around the current price level. If it will break through you can add to your position at 0.7279.
Target Range = 0.7210 - 0.7195
1H, 4H and 1D all pointing down ;-) My target range is calculated for 1H and 4H.
Those who have followed my last advice, have made a nice profit all the way up.
Now the C-wave of the correction goes all the way down. I marked 3 TP Level which are calculated by Fibonacci Ratios and my "Gann % Calculator".
I'm looking for the TP2 and TP3 Level. If the TP2 level doesn't hold, the target will be the TP3.
Look at the related links (yellow...
Sell if the price breaks through the calculated support level (see related link). This will confirm a 5-wave move down and therefore a bigger Zigzag (5-3-5) which supports the daily chart.
If not, we will have 3-wave upward move to the near of the top, so buy! The candlesticks could stay in the "Three Stars in the South" formation. (Check the charts below for the...
if you study the chart carefully:
If this is the start of the 1st Wave of 5 then the trend lasted 173 hours which is:
- the same as the sacred geometry number 1.73
- 7,2 in days! 72 is a Gann Number!
Low (√) - High(√) = 197 (close to 199 Lucas Number)
197 x 180° = 35460 or 35,460 which is close to 36, a Gann...
It seems the correction is over and the first leg up is is development. With some fibonacci analysis I calculated some confluence zones (blue horizontal lines and a blue zone) and made a forecast, how the pair could develop.
It wouldn't be wrong to be aware, that the correction could continue by making another formation. For now, #bullish
They said "It's very difficult and confusing to trade a triangle.". I agree!
When I first looked on the 4H chart, I saw the beginning of a triangle formation and was excited about the trade. Then I went to the 1H chart and have tried to count the internal waves to soon. That was a mistake and confused me very much, because the breakout didn't happened. But the...
As the picture gets more clear (I made some adjustments to my prior research (look at these)), we can see the not unusual triangle which is often formed in the 5th wave of a move. The triangle is forming in wave 'ii' and we can wait for a nice breakout down to 'iii'. Though the correction 'ii' took a lot of time to form, I assume correction 'iv' won't take that...
It looks like we are in the fifth way down to a price level below 100.
I have calculated 2 confluence zones where the second one near 98.900 is my favorite.
Target 1: 99.200
Target 2: 98.900
Feel free to check my other ideas, too.
We are probably in the 4th wave of a 5 wave structure. Therefore the price has two confluence zone where it will retrace. I guess it will be the 2nd confluence zone which will end the 4th wave to start wave 5 down.
EURUSD is about to create the ZigZag Pattern. The question is to which level the price will decline before starting the next rally. I calculated two confluence zones with fibonacci levels where the price is likely to bounce.
Since I'm new to Elliott Wave Principle, my research could mislead you. Be careful. FX:EURUSD