Clear Recomendation For EUR/USD (Elliot Analysis)

[patricio_w]

On dayli an weekley chart, is the same analysis, as usual i keep the same view as the last couples of month. Traders who went LONG for middle-long term trades, are wining now several pips

About intraday, we have to keep an eye on two important points, the first is 1.2048, that is the maximun possible target for the W5:1 of 3. but i think than W5:1 of 3 is already in place at 100% Alternate Price Projection of the W1:1: of 3. marked as 1.2025 (high was 1.2030 to be accurated)

If thats the case, then a correction to 1.1944 is expected, so for those who want to go Short, be carefoul and take a deep look at the Oscilator, and wait fot trend reversal, 1.2048 seams to be a good stop.

Next point is 1.2092, take a look of the daily chart, after that point is brake, a quickly move to 1.2321 is expected

I personally will wait for the correction, to be in place, or wait for the final move of these W1 of 3, and then go LONG after the correction, for the W3:3 of 3. I prefer to run with the trend always

Kindest Regards

[patricio_w]

Is 1.2061 the end of W3:1 of 3?, well looking at the Oscilator we are seeing than the CrossOver is showing a trend reversal, interrupted by another crossover to the upside bout not into the Over Sold Zone, what is clear is than this W3:1 of 3 is near completition, if it is not already complete. First key point is 1.2092 March 6 high. then 1.2002 tha is the 1.618 Alternate Place Projection of w1:1 of 3. If we do the same with the Time Projection shows us than the W3:1 of 3 should be ending today, as 1.1618 ATP of the W1

Regards

[FXLearning]

Patricio,

I was wondering if you could share a take profit level for this setup.

Regards,

FXLearning

[patricio_w]

Originally Posted by FXLearning

Patricio,

I was wondering if you could share a take profit level for this setup.

Regards,

FXLearning

I sell EC at 1.1955, stop loss on 1.2073, just on the croosover lines in OB Zone, regrds

[patricio_w]

Originally Posted by patricio_w

I sell EC at 1.1955, stop loss on 1.2073, just on the croosover lines in OB Zone, regrds

Sorry, sold EC at 1.2055, SL at 1.2073, thanks

[patricio_w]

Ending the week with a huge really to the upside as i anticipated. My analysis is still intact, the possible target for this W5:1 of 3 is 1.2216 till 1.2250 tops.

It should be ending today, or tomorrow. All time frames, inlcuding Monthly are in Over Bought Zone, signalign a multi day to the upside finishing, if it is not already finished.

To the middle-long term trade, as usual as 3 month ago, still to the long side, now for intraday trades, iam looking forward to go short, once the W5 touch it max target, i probly fail a couple of times, but i antipated a correction of the rally up.

Well, while iam writing the analysis aim selling EC at the current price 1.2174, with SL at 1.2188, one pip from the top

Kindest Regards

[iceburg500]

I have shorted same around 1.2079 area but curious what your down side target is before next wave up ?

I was thinking 1.2130 zone for short exits and start add longs for 1.22 break

[patricio_w]

Originally Posted by iceburg500

I have shorted same around 1.2079 area but curious what your down side target is before next wave up ?

I was thinking 1.2130 zone for short exits and start add longs for 1.22 break

if everything goes as i think, a possible target for this Short Trade should be 1.2039, that is the started of Wave 4, breaking that point should confirm the Wave 5. Next possible targets are 1.2023, 1.1984 and 1.1929, that is 0.500, 0.618 and 0.786 respec.
Now the Oscilator is reaching the OSold Zone, we will see if its breaks to the upside, or if its holds above 1.2185, if it holds then 1.2181 should be the top of Wave 5