EURUSD at the beginning stages of a 3rd wave upward.
Seeking a shallow retracement to enter a long with small stop.
Caution: Hourly correction may not be complete since it has not
fulfilled minimum retracement time even through 61.8 price has been reached.
Looking for an Elliot Wave point of view, Wave two correction is coming to a completion to begin a very significant upward thrust to wave 3.
The Wave 1 diagonal is a bit sketchy due to the possible alternate count of it being a complex correction.
The trendlines are looking very good and support an upmove.
End of ABC Correction. End Position of C leg occuring at Fib Cluster level, 1.38% Time Level. Momentum in both stochastic and RSI showing oversolf with a bullish cross. Initial Impulse up visible on 4HR chart, need a correction of this impulse with a flag or abc to confirm the reversal. One must be careful to not enter early since the price has been diverging for...
