This is my Elliott wave idea about EURUSD on the 4 hours chart.
This idea is the same as my idea released on February 10th.
I think that we are in sub wave (iii) of wave 3 shown in the Blue line wave.
We just finished sub wave 1 of wave (iii) shown in Orange line wave.
The sub wave 1 (Black line) can be divided by the ideal golden ratio.
I think that sub wave 2 (Black) of wave (iii) started.
If the assumption is correct,
The wave “(iii)-2” will 50.0-61.8% retrace of wave “(iii)-1”.
After the wave “(iii)-2” was retraced,
The wave “(iii)-3’ will grow to the levels of 1.110-1.100.
After the wave"(iii)-2" retraced,
I will plan to short @ 1.140-1.145.
In this scenario, critical stop loss level is 1.151.
This idea is the same as my idea released on February 10th.
I think that we are in sub wave (iii) of wave 3 shown in the Blue line wave.
We just finished sub wave 1 of wave (iii) shown in Orange line wave.
The sub wave 1 (Black line) can be divided by the ideal golden ratio.
I think that sub wave 2 (Black) of wave (iii) started.
If the assumption is correct,
The wave “(iii)-2” will 50.0-61.8% retrace of wave “(iii)-1”.
After the wave “(iii)-2” was retraced,
The wave “(iii)-3’ will grow to the levels of 1.110-1.100.
After the wave"(iii)-2" retraced,
I will plan to short @ 1.140-1.145.
In this scenario, critical stop loss level is 1.151.