EURAUD 1W, possible 5th elliott wave - long term projection

Evening all guys and happy new year fresh energy for us and soon market will start to moves in full throttle again! With 2019 here i will share a bit less but giving medium-long term projection like this one for example. Anyway let s start this is what i m seeing on this pair looks quite clean in the structure and in the count of the wave so i ve decided to use both. We re currently moving inside this ascending channel where the newest price action in long term key has recently print a second touch on the lower TL. Using elliott wave principles we can easily see that we re now in 4th wave that s a corrective one ( cause 1 impulse, 2 corrective, 3 impulse, 4corrective, 5 impulse) and as we know the corrective can be in (symmetrical or expanding) here is in expanding with a classic a,b,c,d,e with the price that s already shooting to the upside!
For those who would like to find a possible and correct entry we should wait for the price to reach 1.6400 area and wait to see how price will react there. A good sign should be a corrective pattern on lower TM that can lead the price out of this correction to the north! Looking for a corrective pattern on lower TM is crucial we can t just buy here cause we wanna a confirmation that trigs this analysis in order to avoid a possible strong selling pressure coming in at 1.6400.
That s it and follow me if you want also on instagram communitytraders2392 for other analysis view and some journey s posts.

Comment:

slowly but surely;)