The wave pattern of the H4 graph:
The unfinished wave of the euro major pair from January 25 is heading "south" on chart and reached the intermediate support zone.
The wave pattern of the H1 graph:
The last downward wave since the end of March has been formed. Last month, the formation of a counter correction began.
The wave pattern of the M15 chart:
The ascending segment from May 29 became the first part (A) of the bull wave. Last week, the middle phase of the movement (B) began. With a high probability, the wave will take the wrong kind of structure.
Recommended trading strategy:
At this stage of the price movement, sales are not recommended. In the support area, monitor the signals for buying the instrument.
Resistance zones:
- 1.1930 / 1.1980
Support zones:
- 1.1520 / 1.1470
Explanations to the figures:
A simplified wave analysis uses a simple waveform, in the form of a 3-part zigzag (ABC). The last incomplete wave for every time frame is analyzed. Zones show the calculated areas with the greatest probability of a turn.
Arrows indicate the counting of wave according to the technique used by the author. The solid background shows the generated structure and the dotted exhibits the expected wave motion.
Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need to confirm the signals used by your trading systems.
