edoyuwon1909

edoyuwon1909

Continuing the analysis from the previous post, EURUSD is currently completing wave 5. The length of wave 5 can be characterized by the following: 123.4% reverse retracement of wave 4, or 161.8% reverse retracement of wave 4, or 61.8% of waves 1-3. One of these criteria has already been met. From the perspective of the pattern formed, there should ideally be 5...

edoyuwon1909

the price made a perfect sequence with the fibonacci ratio. will go up at leat to 1.09377

edoyuwon1909 Updated 

It appears as depicted in the chart, the daily closing price halted precisely at the trend-line. This suggests that the price is likely to go downward before resuming its bullish trend. This differs from my analysis in a post a few days ago. In that post, I speculated that the appearance of a bearish leading diagonal would mark wave 1 of a downward trend,...

edoyuwon1909 Updated 

If tomorrow, at the closing price in May, the price does not break through 1.09000 and instead closes at 1.08400-1.08500, then it is likely that the correction has ended and the price will continue its bearish trend. This is the main reason why, in the update from my last post, I recommended closing buy positions. The next question is where can we take a sell...

edoyuwon1909 Updated 

Presently, EUR/USD is in wave iv, and we are anticipating wave v. The last price peak reached 161.8% of wave i (leading diagonal) as identified below. Based on this, we assume that it is not C but wave iii and there is still one more upward wave before a correction occurs. Over the past week, the price has retraced 36% of wave 3. Some Elliott Wave traders...

edoyuwon1909

As seen in the annotations I made on the chart (also refer to my previous post), my assumption is that the price is currently in wave 4, where a typical 38.2% correction occurs. In the previous post, I was uncertain about the wave 4 pattern that had formed. However, today's movement might provide some insight. At this moment, it is possible to take a sell...

edoyuwon1909 Updated 

Like often occurs in Elliot wave counts, we're confused about determining whether it's i - ii - 1 (iii) (red line) or A-B-C (green line) I draw the analysis so both bullish and bearish can take positions with good risk-reward ratios. tell me your thought on this in comment box, are you a red bull or a green bear? good luck

edoyuwon1909

i personally think that the price should hit 1.05750-1.05000 before it goes up to 1.15000 so here is my idea: this massive upward movement is a wave C of a flat correction. this c takes form of a motive wave (impulse), it's a trap for e.w trader that will assume that this is the new trend upward

edoyuwon1909

if you follow me before, you would know that i'm on bear side, you may also read my lost signal this whole may. the ABC plan seems to be failed, so i try to recount the wave. and this is maybe the best we can count. So 2023-2024 has been wave 4 took form as a triangle ABCDE with a fake break out at C and truncatēd wave E Lets hope for some profit, no more stop...

edoyuwon1909 Updated 

we will wait confirmation at the highlighted area. the confirmation could be any H1 bearish candlestick pattern, bearish leading diagonal, quasimodo, etc wish me luck, SL no more haha

edoyuwon1909

after a long journey and a lot of thought, i decide to take on the bear side. i assume that it is a valid leading diagonal, followed with a zigzag, a bearish engulfing on h1 is the confirmation we waiting for. wish me luck guys

edoyuwon1909 Updated 

hard days for my bearish plan. even my scalping hit SL, haha let's move on and find a new signal. i know that we are in the midle of downtrend, but i see no confirmation to take short instead, i foūnd an ABCDE pattern that is a sign of continuation. i personally think of buy next week. wish me luck!

edoyuwon1909

as you may saw on my previous post. i'm on bear side waiting for confirmation to sell. but this 2 days i can't found any confirmation, hihihi so as i'm so addicted to taking position. i would like to take on bull side, and here is my reason: the 3rd wave was 323% of 1st wave, so in my opinion, the correction is not over yet. i'm expecting 1 more bullish impulse...

edoyuwon1909

this is the scenario for short term bullish idea. hope you guys understand happy trading and goodluck

edoyuwon1909 Updated 

i am still on my bearish bias. so i just counting another ABC correction and wait for confirmation to go short

edoyuwon1909

what team are you? bearish or bullish? off course we wouldn't know for sure. i have some running profit position (as the signal i post yesterday). but as we see other probability, i decide to take some profit, and let some others to running. share your thought on this in the comment good luck

edoyuwon1909 Updated 

our last signal hit SL we change our prediction, looking for another scenario, wait for confirmation, take another short position, and good luck here is my new scenario. the price will go up reaching the trendline as seen on chart. then i'll wait for any bearish candlestick pattern on H1(it could be engulfing, shooting star, etc) before take any short pos.

edoyuwon1909

yes i am still on my short bias. haha i looked for any possible ABC correction, confirmation, and take position. i put the target at 50% of our daily impulse wave