📌 Overview:
EUR/USD is showing a strong bullish continuation setup following a clean Wave 1-2 formation, confirmed by both structure and momentum. A dominant trendline break, retest at support, and bullish signals from the Awesome Oscillator (AO) reinforce this high-probability buy scenario.
🧠 Elliott Wave Count:
Wave 1: Strong impulsive move up with solid structure.
Wave 2: Healthy correction into the 61.8% Fibonacci retracement zone.
Wave 3: Now initiating, expected to be the strongest leg.
🔍 Confluence Factors:
✅ Dominant Break: Price broke a descending trendline from Wave 1’s high, then retested it successfully at the green zone.
✅ 1.11813 marked as key SNR (Support & Resistance) — price is holding above it post-break.
✅ Green highlighted area = ideal buying zone aligned with:
Demand zone
Fibonacci golden zone
Structure support
✅ Awesome Oscillator (AO):
Bullish divergence between Wave 1 and Wave 2
AO histogram flipped back green = early momentum confirmation
💼 Trade Plan:
Buy Entry: Green zone (post-dominant break + SNR support)
Stop Loss: Below green zone / invalidation of structure
Take Profit 1: 1.618 – 1.88 Fib extension → 1.1216 – 1.1226
Take Profit 2: 2.618 – 2.88 Fib extension → 1.1241 – 1.1258
🎯 Strategy Notes:
Take partial profits at TP1 to reduce risk.
Let the remainder of the position run to TP2 for potential extended Wave 3.
Monitor AO and candle behavior near TP1 — possible Wave 4 may form afterward.
📈 Layered confirmation = high confidence. Trade the confluence, not the emotion.
#EURUSD #ElliottWave #Wave3 #AO #ForexStrategy #Fibonacci #StructureBreak #SupportResistance #TechnicalAnalysis
EUR/USD is showing a strong bullish continuation setup following a clean Wave 1-2 formation, confirmed by both structure and momentum. A dominant trendline break, retest at support, and bullish signals from the Awesome Oscillator (AO) reinforce this high-probability buy scenario.
🧠 Elliott Wave Count:
Wave 1: Strong impulsive move up with solid structure.
Wave 2: Healthy correction into the 61.8% Fibonacci retracement zone.
Wave 3: Now initiating, expected to be the strongest leg.
🔍 Confluence Factors:
✅ Dominant Break: Price broke a descending trendline from Wave 1’s high, then retested it successfully at the green zone.
✅ 1.11813 marked as key SNR (Support & Resistance) — price is holding above it post-break.
✅ Green highlighted area = ideal buying zone aligned with:
Demand zone
Fibonacci golden zone
Structure support
✅ Awesome Oscillator (AO):
Bullish divergence between Wave 1 and Wave 2
AO histogram flipped back green = early momentum confirmation
💼 Trade Plan:
Buy Entry: Green zone (post-dominant break + SNR support)
Stop Loss: Below green zone / invalidation of structure
Take Profit 1: 1.618 – 1.88 Fib extension → 1.1216 – 1.1226
Take Profit 2: 2.618 – 2.88 Fib extension → 1.1241 – 1.1258
🎯 Strategy Notes:
Take partial profits at TP1 to reduce risk.
Let the remainder of the position run to TP2 for potential extended Wave 3.
Monitor AO and candle behavior near TP1 — possible Wave 4 may form afterward.
📈 Layered confirmation = high confidence. Trade the confluence, not the emotion.
#EURUSD #ElliottWave #Wave3 #AO #ForexStrategy #Fibonacci #StructureBreak #SupportResistance #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.