The pair is in consolidation = Bull Flag. It looks like we are in wave 4 (not shown) of wave 5. Target 1 = C = 1.414 of A = 0.9241 Target 2 = C = 1.618 of A = 0.9482
This is the combination of pattern + wave analysis. Bear flag = consolidation before continuation downside. Price could test the upside of the channel before a drop. Target for C = 1.1790 (61.8% of A) or 1.1204 (100% of A) Flag's target is quite ambitious = 1.1037 (that's why I prefer wave targets to calibrate the goals)
A month ago I've posted a EUR weekly chart with ABCDE triangle. The wave D dropped below my support line as it was put ahead of time. This is an updated chart. If EUR will break above the yellow dashed resistance line then we can can consider wave D as valid and finished. Watch 1.1200-1.1220 depends on the angle of price attack. Target is within 1.14-1.15 range.
Keep on. See the patterns and wait for confirmation.
Usually i would wait for price to break pass the B point, but the overall set up is pretty nice going into next week. First we have a X-A-B rejection at the 50% level clean, then on the pull back price dips into a minor demand zone. In confluence, we have a .618 rejection off the A-B fib with a double bottom structure. Lastly, we have daily support @ .71360 and...
EURUSD Breakout zone next target 1.0706
This is my first analyse using wave elliott and i am beginners So if i there are something false or anyone have an idea about my analyse please Post a Comment !!
XAGUSD is looking to complete its 5th leg of a possible Elliot impulse wave structure. We expect price to continue heading north towards leg #5 before it may turn and create an impulse to breakout below the whole structure. Follow the trend until breakout.
AUDUSD is looking to complete an M formation currently on it's final leg. If we M formation plays out, we expect a drop towards the orange line. A break of the yellow trendline would act as confirmation for a continuation lower, however now is a nice entry with SL just above the high that was formed. This may also be a 3-wave structure forming.
Lets buy the breakout and ASAP we going to break even.
I am expecting for price to go down to 161.8 extension and 61.8 fibonacci retracement and bounce back up for impulse wave
I just started testing Wave strategy so probably I am doing something wrong This is just an assumption