WXY-Elliot-waves pattern for longing opportunity
on the monthly timeframe the trend has broke 12-years trend. On the daily timeframe the trend has made an WXY, it established the W then made 2 set of correction waves then rallied to hit the X area with 3 Eliot waves after finishing the W celling it declined with 4 waves so far out of 5-Elliot waves. So probably the fifth wave will hit the 1.16050 level before it pullback to and uptrend.
Kommentera:
The entry would be at Y, the SL under the monthly trend line, the TP for a starter under the 23.6% fibo.