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Wave picture of the chart H4:
The last major wave of January 25 is downward. The structure is fully formed, the proportions of all parts are achieved. The price of a potential reversal is reached at the price.
The wave pattern of the graph H1:
The wave of April 13 is bearish. The wave has reached the minimum elongation level.
The wave pattern of the M15 chart:
Since May 29, the bullish wave forms a correction. The wave is not complete. Within its framework, a downward pullback is forming in recent days.
Recommended trading strategy:
For all types of trading strategies, sales are not recommended because of their limited capacity. Signals for purchase are better to lie in the area of settlement support.
Resistance zones:
- 1.3540 / 1.3590
Support zones:
- 1.3230 / 1.3180
Explanations to the figures: In a simplified wave analysis, waves consisting of 3 parts (A-B-C) are used. In the analysis, 3 main TFs participate, on each one the last incomplete wave is analyzed. Zones show the calculated areas with the greatest probability of a turn.
Arrows indicate the wave counting according to the technique used by the author. The solid background shows the generated structure, the dotted - the expected movements.
Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need confirmation signals from your trading systems!
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