EUR/USD M30, H1,H4,D1 & Weekly Update

So far wave  2 has followed Fibo Expansion in the move down almost to the pip (slippage probably due to the SL orders below 1.2880). In Elliott terminology wave (a) was Double Zig-Zag, wave (b) was Expanded Three and wave (c) developed in five sub-waves to the downside ending into 61%FiboExpansion almost to the pip.
This kind of wave behaviour is very common in wave 2 correction which is why it is easy distinguisable from wave 4 – this one is usualy (but not always) a Trangle Formation. This is the reason why I assume we are done with correction and now  more bullish patterns should emerge when price will start to develop in proper wave 3 fashion.
I have included alternative weekly count for EUR/USD but for now both of weekly points up for more gains.
Please notice that low of the wave 2 has been „predicted” by Fibo Time Clusters vey well (almost spot on).
Take care,
Seb

 

About the author

Sebastian Seliga

Aktywny trader, analityk, ekspert metod inwestycyjnych bazujących na teorii fal Elliott'a, geometrii Fibonacciego i nie tylko.

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