EUR/USD – The fist act of the second act?
Updated
Hello everyone,
We have seen a perfect reversal in my green trading box at 1.13000! All those who followed me are now happy for several thousand pips (please check link below). All those who missed this longtrade: don’t worry, maybe there is another entry in front.
Where we are standing?
Since building the top at 1.25556 EUR/USD has completed wave A (purple) superordinate at 1.13000. Now we are in wave B (purple). At lower wave degrees this wave B is composed by another A-B-C correction pattern, I think. So, the uptrend started at 1.13000 is wave A (cyan) of B (purple). Now, we have a good chance that wave A (cyan) is completed at 1.17335 already.
Screnario 1 (green line) – Chance: 65%
At lower wave degrees EUR/USD is building an a-b-c correction pattern to complete wave B (cyan). We have probably seen wave a of B, so now the market moves up to complete wave b of B. After that, the last wave c of B will lead us to a point where we can decide, if we go long for the final wave C (cyan) of B (purple). I have placed a yellow trading box already in the chart. That’s where wave B (cyan) probably will end, I think. BUT: this box is provisionally. I will adjust it, if the market gives me reason to do so.
Scenario 2 (purple line) – Chance: 35%
Wave A (cyan) is not completed yet, the latest selling was only wave 4 of A (cyan). If so, we will see an uptrend to higher prices to start from there the final sell-off down to complete wave B (cyan). We will see…
During the next days we have to analyze the market movement well to decide what will happen most likely. There are – as always – more possibilities as shown in the chart above, but for now I do not see enough chance for them to come into my chart.
More updates will follow…
If you have any questions, don't hesitate to contact me or leave a comment here.
Take care,
tgo
We have seen a perfect reversal in my green trading box at 1.13000! All those who followed me are now happy for several thousand pips (please check link below). All those who missed this longtrade: don’t worry, maybe there is another entry in front.
Where we are standing?
Since building the top at 1.25556 EUR/USD has completed wave A (purple) superordinate at 1.13000. Now we are in wave B (purple). At lower wave degrees this wave B is composed by another A-B-C correction pattern, I think. So, the uptrend started at 1.13000 is wave A (cyan) of B (purple). Now, we have a good chance that wave A (cyan) is completed at 1.17335 already.
Screnario 1 (green line) – Chance: 65%
At lower wave degrees EUR/USD is building an a-b-c correction pattern to complete wave B (cyan). We have probably seen wave a of B, so now the market moves up to complete wave b of B. After that, the last wave c of B will lead us to a point where we can decide, if we go long for the final wave C (cyan) of B (purple). I have placed a yellow trading box already in the chart. That’s where wave B (cyan) probably will end, I think. BUT: this box is provisionally. I will adjust it, if the market gives me reason to do so.
Scenario 2 (purple line) – Chance: 35%
Wave A (cyan) is not completed yet, the latest selling was only wave 4 of A (cyan). If so, we will see an uptrend to higher prices to start from there the final sell-off down to complete wave B (cyan). We will see…
During the next days we have to analyze the market movement well to decide what will happen most likely. There are – as always – more possibilities as shown in the chart above, but for now I do not see enough chance for them to come into my chart.
More updates will follow…
If you have any questions, don't hesitate to contact me or leave a comment here.
Take care,
tgo
Note
Hello everyone,as expected, it seems that scenario 1 (green) pushes through. We should keep an eye on it. Maybe there's a longtrade in front forming.
Take care,
tgo
HK-Capital-Management
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