There are no guarantees in the markets, only probabilities. I see the following 2 short-term probabilities:
On the 2-day timeframe we see an impulse structure. The fourth wave has already completed. According to Elliott Wave norms, it may go a little higher, but not significantly. The top could be the 0.174 EUR MAX mark.
According to the principle, the fifth wave may update the troughs a bit, or stop near the end of the third wave. The horizontal volume profile gives a good guide - a range between ~0.077 and 0.06 EUR.
A bit more globally, I view the whole structure as an Expanded End Diagonal formation. Therefore a strong reaction to EUR 0.47 is possible after the end of the 5th wave of the smaller degree, this is my base case scenario. Keep in mind, if you look at the picture on the 1D TF, the 5 way down structure is already completed!
Also remember that Waves act simultaneously on ALL degrees. So there is another possibility - when this 5-wave pattern works out, a more global degree will take effect, so the price may fall deeper than 0.06 EUR !!
:) The result, as always - there are not many probabilities - either UP or DOWN. So manage your risks and make fat profits !!!
On the 2-day timeframe we see an impulse structure. The fourth wave has already completed. According to Elliott Wave norms, it may go a little higher, but not significantly. The top could be the 0.174 EUR MAX mark.
According to the principle, the fifth wave may update the troughs a bit, or stop near the end of the third wave. The horizontal volume profile gives a good guide - a range between ~0.077 and 0.06 EUR.
A bit more globally, I view the whole structure as an Expanded End Diagonal formation. Therefore a strong reaction to EUR 0.47 is possible after the end of the 5th wave of the smaller degree, this is my base case scenario. Keep in mind, if you look at the picture on the 1D TF, the 5 way down structure is already completed!
Also remember that Waves act simultaneously on ALL degrees. So there is another possibility - when this 5-wave pattern works out, a more global degree will take effect, so the price may fall deeper than 0.06 EUR !!
:) The result, as always - there are not many probabilities - either UP or DOWN. So manage your risks and make fat profits !!!
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