I expect two ascending move in EURUSD that are corrective
A corrective ABCDE pattern Leg E only retraced 0.618 of leg D
possible short trading opportunity USDCHF. I saw two reactions that indicates a high probable short trade
I saw the breakout of a falling wedge, followed by breaking of a high and reaction to Fib 0.618
wave 3 is extended. As expected, wave 4 retraced only 0.382 of wave 1-3 and I took a good profit from wave 4 (see my previous post about GBPCHF). In this week, a butterfly may complete wave 5 in GBPCHF with a target of 0.618 of the entire impulse
There is an opportunity to have a bullish Bat today or tomorrow
A shark with B retracement of 0.382 (not the ideal level of 0.5)
An Ideal shark pattern may complete which offers a low risk buy
Deep Carb does not happen usually and fails mostly, so I wait for the first 0.618 retracement after its completion to enter the trade as it is shown in my chart!
As a harmonic trader, I assume that price tends to complete a harmonic pattern in a larger time frame (red Gartley) and I look for those in lower time frames that are in direction of the larger one (the blue shark). This is what a harmonic trader must do!!
In Elliott, there as situations in which wave C is the largest. In this case, it happened in wave B of a larger degree. After identification, we can wait until the first pullback to 0.618
The price is in areas where I cannot decide. It may be in wave 4 of a bearish move or at the beginning of wave 3 of a bullish cycle
I draw two different corrections with different outcomes? which one is more likely to occur?
It has been said that cryptos are highly risky but in comparison to forex pairs they respect all important levels of supports and resistances. For instance, in my previous post I found that a triangle is forming and wave e will retrace 0.618 and I did. I am a fresh in analyzing cryptos but I found them more profitable
Although I have a short position on BTCUSDT, I think that there is another opportunity of sell it again if it produces the wave e. Nothing is certain until the wave e creates and corrects 0.618 of wave c