Hello friends, welcome to RK Charts!
Today, we'll analyse the EURUSD chart using Elliot Waves. This study is based on Elliot Wave theory and structure, which enables multiple possibilities. Please note that the possibilities outlined here are not definitive predictions, but rather potential scenarios.
The provided information is for educational purposes only and should not be considered trading advice. There is a risk of being completely wrong, and users are warned not to trade or invest solely based on this study.
We are not responsible for any profits or losses incurred. Individuals should consult a financial advisor before making any trading or investment decisions.
Now, let's dive into the analysis. According to Elliot Wave principles, we're currently in a corrective pattern, which consists of ((A)), ((B)) and ((C)) patterns. We've completed ((A)) and ((B)) and are now unfolding ((C)).
Within ((C)) we expect five sub-divisions, labeled as intermediate waves (blue bracketed): blue (1), (2), (3), (4) & (5). Almost four of these sub-divisions are completed, and we've just begun the (5).
We've set an invalidation point at 1.1065, which is the recent low. If this low is not breached, we'll likely continue unfolding the (5) wave of ((C)), which should break above the high of wave (3).
However, if the low is breached, it's possible that wave (4) is undergoing a double correction.
Both scenarios are possible, and we'll continue to monitor the market's unfold.
Scenario 1
Scenario 2
This study is a deep dive into Elliot Wave counts, aligned with the rules and principles of Elliot Wave theory, as well as higher time frame and higher degree analysis.
I hope this analysis based on Elliot Wave theory has helped you understand the chart better and learn something new. Please keep in mind that this is for educational purposes only.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
Today, we'll analyse the EURUSD chart using Elliot Waves. This study is based on Elliot Wave theory and structure, which enables multiple possibilities. Please note that the possibilities outlined here are not definitive predictions, but rather potential scenarios.
The provided information is for educational purposes only and should not be considered trading advice. There is a risk of being completely wrong, and users are warned not to trade or invest solely based on this study.
We are not responsible for any profits or losses incurred. Individuals should consult a financial advisor before making any trading or investment decisions.
Now, let's dive into the analysis. According to Elliot Wave principles, we're currently in a corrective pattern, which consists of ((A)), ((B)) and ((C)) patterns. We've completed ((A)) and ((B)) and are now unfolding ((C)).
Within ((C)) we expect five sub-divisions, labeled as intermediate waves (blue bracketed): blue (1), (2), (3), (4) & (5). Almost four of these sub-divisions are completed, and we've just begun the (5).
We've set an invalidation point at 1.1065, which is the recent low. If this low is not breached, we'll likely continue unfolding the (5) wave of ((C)), which should break above the high of wave (3).
However, if the low is breached, it's possible that wave (4) is undergoing a double correction.
Both scenarios are possible, and we'll continue to monitor the market's unfold.
Scenario 1
Scenario 2
This study is a deep dive into Elliot Wave counts, aligned with the rules and principles of Elliot Wave theory, as well as higher time frame and higher degree analysis.
I hope this analysis based on Elliot Wave theory has helped you understand the chart better and learn something new. Please keep in mind that this is for educational purposes only.
I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!
Hope this post is helpful to community
Thanks
RK💕
Disclaimer and Risk Warning.
The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
YouTube: youtube.com/@rk_charts
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
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.
YouTube: youtube.com/@rk_charts
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Telegram : t.me/RK_Charts
Twitter : @charts_rk
Email : rkcharts@gmail. com
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
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.