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ABC Wave Counts Replace 123 Structures

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 2, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    EUR/USD 4 hour The EUR/USD seems to be making a bullish retracement within the downtrend. The month of October has ended without a bearish break of the bottom at 1.0450, which in my analysis means that an ABC (green) now seems a more likely scenario than a 123 (green). Typically ABC zigzags will complete around the 100% Fibonacci target or in between the 100 and 161.8%. 1 hour The EUR/USD is making a bear flag chart pattern (green lines), which is a typical formation for a wave 4. The

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