TradingView
MahmoudAli
Oct 24, 2017 12:11 AM

EURUSD WAVE 4  Short

Euro Fx/U.S. DollarFXCM

Description

EURUSD WAVE 4 CORRECTION
Comments
donaldsaw
Wave 2 wave a ZZ and deep retracement so unlikely wave 4 will go down that far from what I have counted. Likely this 3 wave move down is wave 2 of 5 so I'm expecting a massive EUR Long.

Good luck
MahmoudAli
@donaldsaw, A possible scenario as well
donaldsaw
@MahmoudAli, I'd also read up more on EW on extensions as your wave 3's are very short within your count. Wave 3's and sub 3's tend to extend 1.618%, 2.618%, 3.618%, 423% and 686% - best practice to change extensions at all levels.
MahmoudAli
@donaldsaw, 686% ? end wave 3 423%
donaldsaw
@MahmoudAli, I'm stating the possible fib extensions a wave 3 can hit; not specific to your count. Read up on how wave 3 works in the EW book.

More