The pink wave {i} to {v} suggests a trend reversal is under way, expecting either a three wave reversal sequence at the same degree or one degree higher.
alternatively, the pink wave {iv} & {v} are only parts of a running flat wave {iv}, one more wave {v} decline is still possible (but not necessary).
alternatively, the pink wave {iv} & {v} are only parts of a running flat wave {iv}, one more wave {v} decline is still possible (but not necessary).
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still bullish Nota
close above 106.64 would be an early sign of larger degree bullish rally is underwayNota
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big picture Nota
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i actually prefer 12 plus lower degree 12 OR 123 with extended wave 5 for the upside
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it seems another lower degree wave c decline is underway (or bearish 3)close below key support would favor bearish case
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a flat wave b? Nota
the minimum requirement for a reversal is met, a lower degree impulse decline followed by corrective 3 waves would support this bearish count Nota
short-term bearish target to re-test wave a low at 108.646Nota
or 108.543 Nota
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short-term alter count Nota
let's review the larger structure in 4 hours chart expanded flat correction is less likely to happen but it is still possible
preferred count in blue
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also be aware that a potential diagonal to finish blue wave v circle Nota
almost there? Nota
break below 110.454 would activate the red count Nota
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plus larger degree buying opportunity if we can confirm the end of wave 2 or BNota
either way Nota
Trade ativo
had few long positions with stops just 1 tick below the recent low of 108.112may move my stops to breakeven if the current rally continues
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could be a sharp double zigzag for wave {ii}, no immediate bullish signal for the short-termNota
double zigzag (w)-(x)-(y) is likely to happen, maybe re-test 61.8% Fibo retracement level
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combination (w)-(x)-(y) is also possible
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close above wave (x) high would argue the correction has finishedNota
buying opportunities may arise again after a bullish flag or other sideways corrective patterns
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a quick review of the larger structure, my preferred count expects another impulsive rally, but red {i}&{ii} could also be labeled as (a) & (b) of a {b} wave, where {b} wave could be a flat or triangleNota
bullish count in blue or redNota
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break above 110.757 could signal more bullish potentialNota
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pink diagonal C OR blue impulse C or 3 OR grey complex BNota
blue wave C or 3 is under wayNota
RSI is making higher highs, this is a strong sign of the bullish trendshort-term bullish targets
113.211 if blue wave (iii) = 1.618 * blue wave (i)
113.884 if blue wave {iii} = 1.618 * blue wave {i}
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possible short-term wave count Nota
break below blue wave {i} high at 110.904 would argue a different wave count, e.g. red double zigzag W-X-Y Nota
ready for sell setup ? Nota
current price pattern looks bearish to me Nota
We could have red i-ii + green {i}-{ii} count OR a pink diagonal i follow by iiNota
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late stage of wave (c) 
'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'
Email：info@ewc.space
Email：info@ewc.space
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'
Email：info@ewc.space
Email：info@ewc.space
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.