Pair: EUR/USD
Timeframe: 4 Hour
Current Price: 1.13596
Key Concept Highlighted:
“This is where money is made — in the retrace, not the rally.”
(Focus is on catching retracements, not chasing rallies)
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Technical Breakdown
1. Wave Count (Elliott Wave context assumed)
The chart labels wave iii as complete.
A corrective move is underway (likely forming wave iv).
The next anticipated move is wave v rally to the upside — target zone shown near 1.22000–1.20000.
2. Key Zones
Immediate Support/Buy Zone: Small rectangle near the current price (likely minor demand zone).
Major Buy Zone: 1.10500–1.11500 (approximate)
→ Strong demand area backed by confluence of:
Previous wave structure support
Trendline retest
Cluster of economic event icons (suggesting high volatility catalysts)
3. Bias
Waiting for price to either:
Bounce from the immediate small support (early aggressive long), or
Dip deeper into the major buy zone for safer long entries.
---
Timeframe: 4 Hour
Current Price: 1.13596
Key Concept Highlighted:
“This is where money is made — in the retrace, not the rally.”
(Focus is on catching retracements, not chasing rallies)
---
Technical Breakdown
1. Wave Count (Elliott Wave context assumed)
The chart labels wave iii as complete.
A corrective move is underway (likely forming wave iv).
The next anticipated move is wave v rally to the upside — target zone shown near 1.22000–1.20000.
2. Key Zones
Immediate Support/Buy Zone: Small rectangle near the current price (likely minor demand zone).
Major Buy Zone: 1.10500–1.11500 (approximate)
→ Strong demand area backed by confluence of:
Previous wave structure support
Trendline retest
Cluster of economic event icons (suggesting high volatility catalysts)
3. Bias
Waiting for price to either:
Bounce from the immediate small support (early aggressive long), or
Dip deeper into the major buy zone for safer long entries.
---
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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.
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.