EverythingForex

WEEKLY Chart: EURUSD: Bat Pattern Internal Wave Count

FX:EURUSD   Euro / Dolar USA
In this weekly chart, I zoom on on the CD leg of the bat.

WAVE COUNT
What is abundantly clear is that the plunge from where I have the end of wave 2 marked was a wave 3-type action. That is very typical wave 3 price action. What is also clear is that after that plunge, prices have just been consolidating for the past weeks/months. This kind of price action is also indicative of a corrective wave. Obviously, since this comes after a wave III, then the current consolidation is a wave IV. The question is: where does this wave IV complete? In my scenario here, I am picturing that the wave IV is not yet done and very well could be in the early stages of forming a contracting triangle. In any case, I am seeing that there is some more upside to go on this consolidation.

PATTERNS

As I have mentioned already in the MONTHLY chart, there is a POSSIBLE Crab being formed with its' C point yet to be established. This crab's C point should define the upper TL of the possible triangle.

SPECIAL Report on the S&P 500. Read it here. It's FREE: bit.ly/2KGJ409spx818
Mailing list: bit.ly/2iNieEY
Facebook Group: www.facebook.com/efxselect
Twitter: @andrewefxselect
Website: www.efxselect.com
Wyłączenie odpowiedzialności

Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.