This is my Elliott wave idea about EURUSD on the 4 hours chart.
An overview of my Elliot wave analysis was shown on January 27th.
This time, I focused on sub wave of “wave (iii)” shown in the orange line.
The sub wave of “wave (iii)” is the black line.
Now, I think that we are in “sub wave iii” , After the “wave i” was retraced
I think that the “wave iii” is motive wave.
The “wave 1 (Blue)”, “wave(i)(orange)” and “wave i (Black)” are also motive wave.
In addition, the “wave iii (Black)” updated the lowest price of “wave 1(Blue)”
Additionally, the “wave 2 (Blue)” is corrective wave (WXY).
I was certain that “wave (5) (Red)” has not been completed.
I think that “wave 3 (Blue)” will be extended.
If the assumption is correct,
The “wave iii” will grow to the levels of 1.110(1.618)-1.100(2.00).
In this scenario, stop loss level is 1.14200.
An overview of my Elliot wave analysis was shown on January 27th.
This time, I focused on sub wave of “wave (iii)” shown in the orange line.
The sub wave of “wave (iii)” is the black line.
Now, I think that we are in “sub wave iii” , After the “wave i” was retraced
I think that the “wave iii” is motive wave.
The “wave 1 (Blue)”, “wave(i)(orange)” and “wave i (Black)” are also motive wave.
In addition, the “wave iii (Black)” updated the lowest price of “wave 1(Blue)”
Additionally, the “wave 2 (Blue)” is corrective wave (WXY).
I was certain that “wave (5) (Red)” has not been completed.
I think that “wave 3 (Blue)” will be extended.
If the assumption is correct,
The “wave iii” will grow to the levels of 1.110(1.618)-1.100(2.00).
In this scenario, stop loss level is 1.14200.