Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Simplified Wave Analysis. EUR / USD pair for the week of September 14

September 18, 2018 Analytics

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The wave pattern of the H4 chart:

The price of the pair since June 21 moves according to the algorithm of the rising wave. In the daily chart, it formed an incorrect correction type.

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The wave pattern of the H1 chart:

The last hour wave from August 15 completes a larger upward construction. The price has reached the target zone.

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The wave pattern of the M15 chart:

The bearish wave of August 28 continues to create a reversal model of the movement. After the price rise last week, conditions were created for a change in the price movement.

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Recommended trading strategy:

There are no conditions for purchases. In the area of calculated resistance, it is recommended to monitor the reversal signals for the sale of the instrument.

Resistance zones:

– 1.1710 / 1.1760

Support zones:

– 1.1470 / 1.1420

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 timeframe 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.

The material has been provided by InstaForex Company – www.instaforex.com

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