Hello world,
just a quick update regarding my idea on the EURUSD .
Theory:
currently in (correction) wave 4 and soon to engage in wave 5.
We have:
- 1 sharp correction, 1 flat correction (typical for impulse waves)
- longest wave 3 (until now)
- wave 2 not overcoming wave 1
- wave 2 meeting 61 fib mark
Used heikin ashi for easier visibility. Pattern was drawn on candles.
What I am waiting for:
- Breakout candles like big bullish engulfers
- switch in 1h trend to upside
Happy for feedback.
All the best,
c4ss10p314
just a quick update regarding my idea on the EURUSD .
Theory:
currently in (correction) wave 4 and soon to engage in wave 5.
We have:
- 1 sharp correction, 1 flat correction (typical for impulse waves)
- longest wave 3 (until now)
- wave 2 not overcoming wave 1
- wave 2 meeting 61 fib mark
Used heikin ashi for easier visibility. Pattern was drawn on candles.
What I am waiting for:
- Breakout candles like big bullish engulfers
- switch in 1h trend to upside
Happy for feedback.
All the best,
c4ss10p314
Trade closed manually
Wave 5 obviously a lot smaller than expected. Right call though :)
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.