EUR USD Wave 5
Continuing the analysis from the previous post, EURUSD is currently completing wave 5. The length of wave 5 can be characterized by the following:
123.4% reverse retracement of wave 4, or
161.8% reverse retracement of wave 4, or
61.8% of waves 1-3.
One of these criteria has already been met.
From the perspective of the pattern formed, there should ideally be 5 waves (3-3-3-3-3) occurring.
However, in reality, it is unclear whether the 3-3-3-3-3 pattern (bluw arrow) has fully formed, or if it remains at 3-3-3 ( orange arrow).
A sell position can be initiated if the price breaks below wave 4 (last week’s low).
123.4% reverse retracement of wave 4, or
161.8% reverse retracement of wave 4, or
61.8% of waves 1-3.
One of these criteria has already been met.
From the perspective of the pattern formed, there should ideally be 5 waves (3-3-3-3-3) occurring.
However, in reality, it is unclear whether the 3-3-3-3-3 pattern (bluw arrow) has fully formed, or if it remains at 3-3-3 ( orange arrow).
A sell position can be initiated if the price breaks below wave 4 (last week’s low).
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.