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 attivo
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.'
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Email：info@ewc.space
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'When you have eliminated the impossible, whatever remains, however improbable must be the truth.'
Email：info@ewc.space
Email：info@ewc.space
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.