Best reading of the cycle in the short term suggests decline to 1.454 ended wave ((w)). Wave ((x)) bounce is unfolding as a double three structure where wave (w) ended at 1.476, wave (x) ended at 1.461, and wave (y) of ((x)) is proposed complete at 1.49. Near term, wave (w) low is proposed complete at 1.46 as a FLAT, and wave (x) bounce is in progress towards 1.475 – 1.478 area before turning lower. While wave (x) bounce fails below 1.49, or more importantly as far as pivot at 1.516 stays intact, the pair is expected to resume the decline lower. We don’t like buying the proposed wave (x) bounce.
At EWF we offer 24 hour coverage of 42 instruments from Monday – Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Free Trial to sample everything EWF has to offer! We are currently also running 30% promotion on Platinum Plan, valid for new members
Back