EURGBP - Going up. Fantastic R/R !

Combo correction with perfect hit of the ideal Fib ratios. The small divergence also indicates the 5 waves down for orange C are complete.
Longs now are recommended especially seen the very small risk we have.

For a more conservative entry you can look to buy once the middle channel line is broken and price goes above wave (iv).

Note

One the 5min chart you have what seems to be a leading diagonal with a Flat correction for wave 2 which ideally should hold above the 78.6% retacement level.

Note

We were still in the wave 4 it seems that unfolded as a triangle followed then by a move lower which is equal to the length of wave (i) !

The idea remains the same for those who want to wait for a confirmation before entering long, with the slight difference that the bullish level can be lowered to 8955.

Note

On the 5min chart, looks like we got a leading diagonal and are now in the wave ii/b correction that ideally should stop and reverse at the marked zone.

Ofc the count gets invalidated if price moves below the origine of the diagonal.

ElliottWaveBelgium

Don't forget to like, share and follow !

Questions? Chat or Comment on Ideas

Thanks !

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

ElliottWaveBelgium

Don't forget to like, share and follow !

Questions? Chat or Comment on Ideas

Thanks !

Also on: