Daily Chart
This chart is quite confusing for me, there's a chance that we're in the beginning of wave 5 up. But according to Bill Williams' unbreakable rule is that wave 4 never goes below the top of wave 1 which is happened in this chart. So i'm totally lost here, better not trade this daily chart for now, it's inside the alligator mouth anyway.. let's hope there's a saddle point.......
Let's move down to 4 hour chart and look what's happening inside the box to find a possible trade...
4 Hour Chart
More confusing, totally no idea what wave we're in, a big sideway market, no wonder, it's inside the alligator mouth (look at the box on daily chart) but at least we have price outside the alligator, and the alligator is awake..
Let's move down to Hourly chart and find out what's happening inside the box....
Hourly Chart
Looks like the up move on the 4 hour chart still running in a possible wave 3, not sure, because the AO peaks at X not Y, but looking at its slope, it's a typical wave 3. Let see if the AO can peak on Y. Until then i'll just wait n see..
So for EURO/USD, it's better to wait and see until we have a clear view of the wave count or a saddle point... :)
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