now we will see sharp decline on dollar with which correction will be finished and expecting another big up move, as i expect dollar to rise way above as per older chart! (ill put it in comments bellow) now whether we will see running flat as per chart or that C wave will extend some more, we can spot it of what kind of structure will it make on the way down!
for now im expecting this, but will see how it will develop till the eu open.
in smaller time frame those red counts didnt looked as finished so this down move was expected, from the very top we have clear pattern developing, after that big down move which we can distinguish as a motive wave, the correction is also recognizable. this latest structure which i think is finishing after braking the low will be last part of the orange abc...
now i dont think it will make much of a retrace here but every higher going will be good for catching next wave down. the bottom i assume will be down at the rectangle so lets see how it will develop.
more upside is expected but not without consolidation, and from the chart the C wave is about to start!
from what we can see here is a strong rejection followed with some form of a corrective structure, which points out that its gonna proceed same way after finishing the corrective pattern. now what corrective pattern what is making i can distinguish running or expanded flat cose of breaking the high. so how do we know what will it be is if it make a structure...
now here i see downwards motive structures and now its making a correction bellow the resistance zone. the structure is not quite completed to know what form it is so i assume either it is completed motive to downside ot it is 4th wave of motive or of a diagonal, after which more deep correction may follow before brakes down. monday we will know what structure it...
if the price forms that diagonal on the chart that would mean it is leading diagonal cose of the retracing of D, and will expect some form for a correction in those parallels and going down...
same as eu here we have leading diagonal, and if in next hours the price forms some corrective structure in those parallel lines it will go down! also in H4 it have big divergence.
since we got simple ABC pattern which is enough as a structure for correction to be completed and to rush up... BUT if we follow this next up move it will show us whether its going to rush up and brake the top, OR it will form some more complex structure as shown on the chart. for now expecting confirmation for upside to be formed, cose it might rest for a wile...
for now it have some upside where it needs to finish that running flat in the midd which will bounce of that upper parallel and proceed down, OR, it my go even more up to make expanded flat which will go up to that blue rectangle from where i expect to find strong resistance, and to brake down from there... that pale orange line on the bottom will be stronger...
does that pink structure looks familiar... well, look left at the beginning of the chart of this down move... from the other hand it is showing head and shoulders formation which is marked in the chart and it might make some deeper retrace and more complex correction but it wont change the fact that it need to brake the low to complete the diagonal before it goes up!
need to brake the low, before proceed up! how low will see of a structure what will do on the way down...
this structure looks finished and now its going down! depends of what kind of structure it will make on the way down so it can be considered as 1) a B wave of a more complex correction (in which cases it doesnt necessarily need to brake the low and will make another pullback before it make LL) OR 2) or the structure that we r seeing it is a D wave of a...