EUR/USD is trading within a Consolidation in Intermediate (4) (green) and about to complete the last Bullish move in Intermediate (5) (green), thus completing Cycle Wave IV (black) and the entire Complex ''Double Expanded Flat" Corrective Structure.
*see all my calls on EUR/USD pair in the Related Ideas.
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Consolidation Scenarios:
1 - Correction finalized as per Minuette (iv) (black) 2 - Contracting Triangle in play as per Sub-Minuettes ABCDE (purple) 3 - Complex Double Three Structure pending as per Sub-Minuettes WXY (red)
@Libeloo24, Do you have you X complete? I have it complete with X retraced 0.618% of W. Thoughts?
Lionheart-EWA
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@donaldsaw, not yet, would be more comfortable with 78.6 for an X and give the current consolidation some room to react (possible bull flag on smaller time-frames).
donaldsaw
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@Libeloo24, Let's see what the US Market open brings!
donaldsaw
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@Libeloo24, Looks like X terminated at 0.618% - will look to see what B of Y does and go big on the C of Y
Lionheart-EWA
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@donaldsaw, sounds good. Would be OK to wait for that B, agree completely.
donaldsaw
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@Libeloo24, If that B was a triangle, it would be perfect!