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EUR/USD Extensive Elliot Wave Analysis 1 reply
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Disliked{quote} To me that bearish movement on EURUSD H4 looks more like an extension, most likely wave C. {image}Ignored
DislikedNet positions of USD has flipped to the short side since 15th June as per COT data, and there seems to be accumulation in EURO with the same data. So it seems there might be another minor push down in eur/usd and then a massive push up after the accumulation. This coincides with this weeks NFP. If eur/usd makes the down move before the nfp, expect bad figures in nfp and a good rise in eur/usd and also gold {image} {image}Ignored
Dislikedwell, it seems like dxy could not reach 61.8 as mentioned in the last post. it was satisfied with 38.2 extension . Now i am pretty sure this is a B wave going down to 50%. The only thing about B wave is it's unpredictability . seems to have around 23 variants (similar to over Covid 19). so conservatives better don't trade this wave and wait for a breakout from the high for the C wave up. Aggressive traders can trade this to at least 50% of the A wave. ( Remember B waves can go below A waves as well.) Then wait for your strategy to give you a signal...Ignored
Disliked{quote} I mean fractal 5. Like ma 5 or etc. How much the lenght of fractal?.Ignored
Disliked{quote} There is no value for the fractal. If you are using MT4, then it's a built in tool. On your Chart, go to Insert, then go to indicators, then Bill Williams, then choose fractal. If you are using any other charting tools, just search for it. It is normally calculated with 5 successive candles, so maybe you are thinking that is the value . I hope this helps.Ignored
DislikedNet positions of USD has flipped to the short side since 15th June as per COT data, and there seems to be accumulation in EURO with the same data. So it seems there might be another minor push down in eur/usd and then a massive push up after the accumulation. This coincides with this weeks NFP. If eur/usd makes the down move before the nfp, expect bad figures in nfp and a good rise in eur/usd and also gold {image} {image}Ignored
Disliked{quote} Still the same your view on this pair? I think it will go up but figuring out the exact turning point (with an error of +-10 pips) is quite hard. What do you use as entry signal? CheersIgnored