Yes, you are right . i will start selling there as well.

Elliot Wave Analysis

Average daily range for the day is already hit at 1.1999 . so i can reasonably conclude that minor wave 5 could be finished here .. ( not entirely sure). but i am taking profit for most of my short positions here. Now we need to wait for a good ...

Elliot Wave Analysis

so far so good on the downward move. we should be completing a wave 1 soon. as mentioned in the earlier post. i am expecting a 1.1992 which after calculating fib confluence, this target seems to be 300% of the minor wave. + this seems to have a ...

Elliot Wave Analysis

Yes B waves are unpredictable and you are right, i would have never worked this out in a live market. I could only do these waves after the wave has completed (hopefully). I could get the required fib values in these counts. This is one reason i ...

Elliot Wave Analysis

hourly update of eur/usd I am reasonably convinced that 4th wave is completed at 50% fib. now technically it should go down for the 5th wave to 1.1992 which is 61.8 % expansion. After which we should go up in a corrective 2nd major wave.

Elliot Wave Analysis

on a 1 hour front, this is a chart which is self explanatory ... waiting for 4th minor wave to complete and then down for a 5th wave to complete major wave 1.

Elliot Wave Analysis

an update on eur/usd . I have been waiting for eur/usd to turn around for the C wave for ages now ... but we do know that corrections take a long time to complete especially on daily time frame. i am reasonably sure now that b wave is over and we ...

Elliot Wave Analysis

I understand but can you show me your lower timeframe chart?

Elliot Wave Analysis

i am still with the same view as before until proven wrong. we would need one more down move in wave C to complete the correction. Cot report is against it as it had lot more long contracts and short contracts were reduced a lot as well. In this ...

Elliot Wave Analysis

although there is a possibility for eur/usd to go upto 78.6%. there appears to be a strong rejection on daily timeframe. I am hoping that B wave is over and we should be going down for a C wave in 5 waves.

Elliot Wave Analysis

I do !!

Elliot Wave Analysis

so to get into long on euro, we need to wait for a retracement coz at the moment, eur/usd is heavily overbought at the moment

Elliot Wave Analysis

i will wait for the cot report for the week but i am reasonably convinced that dxy is on a B wave now. So the count will be in a slightly different way. When this downward push is a B wave , then the opposite is for euro. it will be an upward push. ...

Elliot Wave Analysis

we actually cannot assume that. price can do anything. market can react and go either down or up in a second. but with the technical analysis, there is a probability that price will respect the 4th wave and start an upward movement for wave 5. ...

Elliot Wave Analysis

Have you noticed eur/usd . apparently the correction is not over at 50%, maybe waiting to reach 61.8% . the last invalidation line is at 1.1900. i hope it does not go there. The funny thing is that even with good number on US CPI, eur/usd went up, ...

Elliot Wave Analysis

hi buddy, there are a couple of possibility when you are counting on a weekly basis. we are on a bull trend from march 2020, so this counter trend is a correction. It can be a 4th major wave or even a A wave which is a correction after 5 waves ...

Elliot Wave Analysis

yes ... that is a possibility but we can also assume that the correction will get over with this C wave as it has fulfilled the minimum requirement for a correction once this c wave ends. The next up move can be a bigger B wave or even the euro bull ...

Elliot Wave Analysis

eur/usd update... I believe that a major wave 3 (orange) will be ending at 1.1600 at 161.8% of wave 1. This has a confluence with 61.8 target of wave 5 (white) of major wave 3. at the moment wave 4 (white) of 3 seems to have ended at 38.2% of minor ...

Elliot Wave Analysis

This is my take on gbp/usd 1 hr/4hr. We are into a series of 1-2 1-2 waves . until we get a good impulsive move down, we are not considering a wave 3, besides fib ratios are not matching to see a wave 3 in this chart. We might suddenly see a big ...

Elliot Wave Analysis

Big thanks for all those who contributed their ideas in this thread. Keep going. I am kind of busy now-a-days with some other work ... so i can update the thread only around this time. Good luck with your trades.

Elliot Wave Analysis