Hello everybody! Looks like three important levels cross in one area. 1) c of Y = 2.618 of a of Y (purple) 2) 38.2% retracement of wave 3 down at 1.1689 (red) 3) upside of the channel So there would look to sell but with inner wave roadmap check. (lower TFs)
It could be a nice looking bearish flag ))) but seems we gonna have expanding triangle instead
KVE
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Good post, thanks!
I agree with the channel part! However I do see some upside possible towards the 38.2 fib level of the move down which started early May last year (somewhat higher than where your wave 2 ends):
aibek
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KVE, thanks for sharing! Yes if it's only wave 3 of Y then we can reach higher indeed!
aibek
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Level reached but lets wait how the day will close. Sell on correction which shouldn't pass over the maximum
IvanLabrie
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I think the euro and yen reversed. WXY is not in the neowave literature (which I'm studying). I see how traditional Elliott Wave analysts will see this as an Y, but I don't think that's the case.
See my published charts, I'm having trouble with tradingview crashing.
aibek
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Hi Ivan, thanks for sharing, just read your post, interesting, lets see how it will go. Cheers man!
Sokow
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Closer look at the details for everybody interested ;)
aibek
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thank you Maestro Do!
IvanLabrie
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Great stuff, looks like 3 is done.
Waiting to go long here.