EURUSD on May 20, 2024 has the price drop started?
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Based on the Elliot wave principle, we analyze the H1 chart
- We see that the small 5-wave structure has completed on the H1 frame, after which the price entered the corrective wave abc.
- Looking at the corrective wave structure, we see that wave a has completed and the price is currently in the target area of ending wave b to start wave c.
- This is a very good price range to be able to execute a sell order at this price range
- Using the method of measuring the end target of wave c, we have 2 target price zones for the end of wave c: zone 1.0822 and zone 1.0787
Trading plan
We look for a Sell point at the price range of 1.0884 with the expectation of profit at the expected price range at the end of wave c. We have 2 areas: the price range of 1.0822 and the price range of 1.0787
Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later.
Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
Financial freedom is true freedom.
Based on the Elliot wave principle, we analyze the H1 chart
- We see that the small 5-wave structure has completed on the H1 frame, after which the price entered the corrective wave abc.
- Looking at the corrective wave structure, we see that wave a has completed and the price is currently in the target area of ending wave b to start wave c.
- This is a very good price range to be able to execute a sell order at this price range
- Using the method of measuring the end target of wave c, we have 2 target price zones for the end of wave c: zone 1.0822 and zone 1.0787
Trading plan
We look for a Sell point at the price range of 1.0884 with the expectation of profit at the expected price range at the end of wave c. We have 2 areas: the price range of 1.0822 and the price range of 1.0787
Note: Sufficient TP, SL to be safe and win the market‼ ️Change data plan will be updated later.
Deekop's analysis is only a personal opinion with a desire to share its views with the community. I'm not always right. But my analysis always reflects my meticulous evaluation of what is best for an investment.
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