That is precisely what we want to see! When we talk about a so-called 1,2 setup, which is the basis for an impulsive movement, we want to see a structure like in our EUR/USD chart. Wave i and ii in green lay the foundation for the impulsive breakout in wave iii. Ideally, we go long with the beginning of a wave 3. In this case, our entry in the EUR/USD has worked well, and we are currently just about 3% in the green (over 340 pips). We now expect that the bulls will continue to run into the $1,226 region before another wave of correction awaits us.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
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.