This is my Elliott wave idea about EURUSD on the daily chart.
I think that we are in sub wave 3 of wave (5) shown in the red line wave.
We just finished sub wave (i) of wave 3 shown in the blue line wave.
Now I think that we are in sub wave (ii) of wave 3.
If the assumption is correct,
The wave (ii) will 50.0-68.2% retrace of wave (i).
After the wave (ii) was retraced,
The wave (iii) will grow to the levels of 1.110-1.100.
In this scenario, critical stop loss level is 1.157.
I think that we are in sub wave 3 of wave (5) shown in the red line wave.
We just finished sub wave (i) of wave 3 shown in the blue line wave.
Now I think that we are in sub wave (ii) of wave 3.
If the assumption is correct,
The wave (ii) will 50.0-68.2% retrace of wave (i).
After the wave (ii) was retraced,
The wave (iii) will grow to the levels of 1.110-1.100.
In this scenario, critical stop loss level is 1.157.
Trade active:
short entry @ 1.150