We can see Eliott Impulse been completed and began consolidating with ABC formation, plus divergence on MACD. I measured first wave and got 550.6 pips, multiplied by 1.618 gives you third wave (550.6 x 1.618 = 891.03), on this case we can see it didnt give us the fifth impulse, but it gave us area of consolidation and reached point 5 of Eliott Impulse. Now Im expecting C of ABCs to be completed at 0.83154 - Daily
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On 4h Chart we can see a clear flag with ABCs been completed testing exactly at 0.618 of the Fibonacci retracement. This could be traded from 0.236 to -0.27
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Education (1H and 15M Charts)
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1H Chart- here we can see ABC a little bit closer where a pattern was found and I knew it had to bounce right up. First you guys can see I used Support and Resistance to verify my trades and we clearly see how it respects everything
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15M Chart- On the right side of the pattern we got an Ending Diagonal with 5 points, used some Support and Resistance to follow it and measured distance from 0-1 wich gives you the distance from 4-5, we can clearly see how it bounced from that area and went straight to where it all started
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15M Chart- You can also trade the Ending Diagonal while its forming, I used Fibonacci to measure pullback, 0.236 retracement right below and 0.618 would be the top, take profits are at -0.27 and -0.618, so you can either trade this with a sell limit at 0.618 or sell stop at 0.236. Look how it perfectly reached -0.618 and bounced up.
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After to much consolidation I managed to find an Ending Channel, it took for ever to be completed, but after to much consolidation there's a clear impulse, if you didn't entered at point 5 it still made a retest to confirm resistance and go bearish.
It's also better to play it safe and wait for a minor consolidation like this flag about to be completed at -0.618 which is previous support of Ending Channel (back to where it all started).
Used some Support and Resistance to confirm prices and MACD to confirm 5 points.
Good Trading. - 4h Chart
It's also better to play it safe and wait for a minor consolidation like this flag about to be completed at -0.618 which is previous support of Ending Channel (back to where it all started).
Used some Support and Resistance to confirm prices and MACD to confirm 5 points.
Good Trading. - 4h Chart
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Reached -0.618 and went bullish back to resistance 0.88504.