Overcoming the pivot and maintaining the level looks very positive for the trend. However, Wave 4 is still not finished and may go deeper. But it must not close lower than wave 2. This would follow the slide and onto the new low.
The EMAs are so close together now, I think there's going to be impulse movement either way up or down.
so.. we're creating a higher high and higher low,, i am expecting the final 5. wave.. could be looooonger then the previsou smaller one..
if we fail this setup, my expections are to reach new low at red zone... this will be strong support for me.
Second wave complete, I hope so, Now should follow wave three.. four and five..
(P) pink - line will be little hard to get, but if we get it, we will go higher. Another noisy area seems to be (R1) i am taking 50% profit there.
Wave two is relatively deep, which means wave four could be very small, and wave five could kick in in a few moments.
BUY: anytime...
From my beginner's perspective, it looks great. Trend, looks like he's turned around and going up. Now on the 4h graph we see a weakening of purchases, therefore we could see a correction and subsequent waves go up. Most pessimistic target for wave 3 is 1.1.
but attention we are still waiting for wave two, when we don't know when it will start, and where it will...
according to my optimistic prediction and Elliot waves, the trend could finally be reversed and progress towards my stated goal. within a couple of hours, it will decide, if the market is sufficiently active, that wish would be granted here.
