EURUSD creating big triangle in wave (4). In this chart I connected cycle analyse and Elliott wave count. In my main scenario is that the pair will making wave (d), which must be complete nearly on the 12th of May (+/- few days).
If look on middle of the cycle , that the pair have:
a. time interval to get a new low level RSI
b. completed wave count in wave (c)
In my opinion it indicate to start wave a of (d) and long decline price to the end of the cycle (19-21 marked days)
In ideally length of wave (d) = wave (b) x 0.618 = 0.3287. Price target nearly: 1.057
NOTE: trading inside a triangle it is not easy, because the structure may be changing every time. I just described ideally scenario for this pair and specify future point of price and time. If this scenario will occur, then a next step it will be looking to key point for wave (e).
If look on middle of the cycle , that the pair have:
a. time interval to get a new low level RSI
b. completed wave count in wave (c)
In my opinion it indicate to start wave a of (d) and long decline price to the end of the cycle (19-21 marked days)
In ideally length of wave (d) = wave (b) x 0.618 = 0.3287. Price target nearly: 1.057
NOTE: trading inside a triangle it is not easy, because the structure may be changing every time. I just described ideally scenario for this pair and specify future point of price and time. If this scenario will occur, then a next step it will be looking to key point for wave (e).
