Pair: EUR/USD
Timeframe: 15-Minute
Date: May 15, 2025
🧠 Technical Breakdown:
This analysis focuses on a clean impulsive Elliott Wave structure, Fibonacci projections, and Awesome Oscillator (AO) confirmation to support a bullish continuation.
🔍 Wave Count:
Wave 1: Clear impulsive push upwards, breaking previous market structure.
Wave 2: Completed corrective pullback into the key support zone, respecting the golden ratio levels.
Wave 3: Initiated after a dominant break above the minor structure and trendline resistance, confirming bullish momentum.
⚙️ AO (Awesome Oscillator) Confirmation:
Strong AO divergence between the Wave 1 and Wave 2 low confirms the bullish structure.
Within the early stage of Wave 3, the AO shows a convergence pattern forming between subwaves 1, 2, and 3 — indicating strengthening bullish momentum.
AO flipped green again after a minor pullback, signaling bullish continuation potential.
🎯 Fibonacci Extensions:
TP1 Zone: 1.618 – 1.88 Fibonacci extension range → 1.1216 – 1.1226
(High probability for Wave 3 termination)
TP2 Zone: 2.618 – 2.88 Fibonacci extension range → 1.1241 – 1.1258
(Extended target if bullish momentum accelerates)
Further projections (Wave 5 estimate):
4.236 – 4.618 → 1.1276 – 1.1288
🧱 Key Structural Zone:
1.11813 is the most critical support-turned-resistance (SNR) level — price broke above this level, retested, and bounced.
The green highlighted box marks the ideal buy zone, aligned with:
Dominant break confirmation
Fibonacci confluence
Bullish AO setup
✅ Trade Plan:
Entry: On retest or bounce from the green zone
Stop Loss: Below 1.11800 or below Wave 2 low (to protect structure)
Take Profit 1: 1.1216 – 1.1226
Take Profit 2: 1.1241 – 1.1258
Optional TP3 (extended): 1.1276 – 1.1288 (Wave 5 projection)
🧭 Summary:
This setup combines Elliott Wave theory, Fibonacci projections, and AO convergence to provide a highly probable bullish continuation scenario. Ideal for breakout traders and structure-based wave analysts.
📌 “Confluence is key. Let structure, momentum, and fibs guide the trade.”
#EURUSD #ElliottWave #Wave3 #AOIndicator #ForexAnalysis #Fibonacci #PriceAction #FXTrading #StructureBreak #TechnicalAnalysis
Timeframe: 15-Minute
Date: May 15, 2025
🧠 Technical Breakdown:
This analysis focuses on a clean impulsive Elliott Wave structure, Fibonacci projections, and Awesome Oscillator (AO) confirmation to support a bullish continuation.
🔍 Wave Count:
Wave 1: Clear impulsive push upwards, breaking previous market structure.
Wave 2: Completed corrective pullback into the key support zone, respecting the golden ratio levels.
Wave 3: Initiated after a dominant break above the minor structure and trendline resistance, confirming bullish momentum.
⚙️ AO (Awesome Oscillator) Confirmation:
Strong AO divergence between the Wave 1 and Wave 2 low confirms the bullish structure.
Within the early stage of Wave 3, the AO shows a convergence pattern forming between subwaves 1, 2, and 3 — indicating strengthening bullish momentum.
AO flipped green again after a minor pullback, signaling bullish continuation potential.
🎯 Fibonacci Extensions:
TP1 Zone: 1.618 – 1.88 Fibonacci extension range → 1.1216 – 1.1226
(High probability for Wave 3 termination)
TP2 Zone: 2.618 – 2.88 Fibonacci extension range → 1.1241 – 1.1258
(Extended target if bullish momentum accelerates)
Further projections (Wave 5 estimate):
4.236 – 4.618 → 1.1276 – 1.1288
🧱 Key Structural Zone:
1.11813 is the most critical support-turned-resistance (SNR) level — price broke above this level, retested, and bounced.
The green highlighted box marks the ideal buy zone, aligned with:
Dominant break confirmation
Fibonacci confluence
Bullish AO setup
✅ Trade Plan:
Entry: On retest or bounce from the green zone
Stop Loss: Below 1.11800 or below Wave 2 low (to protect structure)
Take Profit 1: 1.1216 – 1.1226
Take Profit 2: 1.1241 – 1.1258
Optional TP3 (extended): 1.1276 – 1.1288 (Wave 5 projection)
🧭 Summary:
This setup combines Elliott Wave theory, Fibonacci projections, and AO convergence to provide a highly probable bullish continuation scenario. Ideal for breakout traders and structure-based wave analysts.
📌 “Confluence is key. Let structure, momentum, and fibs guide the trade.”
#EURUSD #ElliottWave #Wave3 #AOIndicator #ForexAnalysis #Fibonacci #PriceAction #FXTrading #StructureBreak #TechnicalAnalysis
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.
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.