The preferred wave count and the alternate wave count suggests that we will have a wave B to the upside now. With the preferred wave count taken into consideration, we may see that we have 5 waves forming the WAVE A. A five-wave A indicates a zigzag for wave B. If we take the alternate count into consideration, we have 3 waves forming the WAVE A. A three-wave A...
A "B" wave can retrace upto 50% of the previous way. The risk reward is 2:1 in this trade.
The wave count clearly shows all the five Elliott waves necessary to complete the cycle. We may see some positive sentiment.
With Rising RSI, EURAUD provides a good opportunity to enter the minute the trendline breaks. Good luck and happy trading. Cheers.
EURUSD has bounced off the 0.5 Fibonacci Retracement level and it looks like the third wave has just begun. We can expect a minor pullback before we go further. Cheers.
GBPUSD has shown these three qualities: 1. End of Five Impulse Elliott Waves 2. Double Top 3. Huge Bearish Divergence. I think we might see a correction ahead. Cheers.
The counts from the top (Oct 15th) indicate that the Elliott wave cycle is indeed complete. We can expect a pullback in the coming days. The alternate counts also indicate that a fourth wave is about to begin. The minimum target is around 0.9280. The prospect of a fourth wave could also mean a bumpy ride to the target. Good luck and cheers.
The CADJPY is showing a very clear Elliott Wave reverse symmetrical - bottom declining pattern. The wave is expected to go till 90.50 soon. Cheers.
The 'C' corrective wave has begun and the direction of the trend remains on the downside. Happy Trading and Cheers.