I became a great fan of Elliott Waves theory. However i'm pritty new in this. So I would appreciate ctiticism.
For the IMPULSE wave to be valid, wave III must go at least 5-10 pips avoube 1.15level(yellow line) or lower.
Therefore a sell setup on daily or 4H could be used as an confirmation for entering SELL position.
See more in comment below!!
For the IMPULSE wave to be valid, wave III must go at least 5-10 pips avoube 1.15level(yellow line) or lower.
Therefore a sell setup on daily or 4H could be used as an confirmation for entering SELL position.
See more in comment below!!
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Typos:
*avoube = abouve
*string = strong
*avoube = abouve
*string = strong
In next few days watch the price action and either take the trade after break and hold of the blue dotted line around 1.2015 level
or in case price goes up wait for string rejection of the area
1.2890-1.2700 and sell at any point after that rejection, while aiming for more than 1:1 RISK/REWARD ratio.