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Elliott Wave Analysis : USDTRY Could Bounce Higher After Correction

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Nov 20, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    On the 4H chart of USDTRY we see acompleted first leg as in red wave (A) of a bigger three wave correction thatstarted from 2.7573 low. That said we are now tracking a three wave movement inred wave (B) that seems to be in final stages and could be completed in sessionahead. Price is now trading at 50% fibo. Level of previous five wave sequence ofred wave (A) and there is still a possibility for price to go even lower to61.80% fibo. level, before making a turn to the upside into red wave (C).

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