The price broke the previous structure with a new high with an AB = CD pattern,in my view as a correction, however I'm terribly bearish with this pair (technically).
Correction between weekly supportW1 and daily resistanceD1, bulls pressure on daily supportD1 keep holding the fall. If the market create a bearish impulse, I believe we can see prices to fall and test previous structure from 2008...
The "New iMPULSE" is one clone from previous, It serves only as a demonstration of a possible event, taking into account the basic Elliot movements, but as we can see, even that way, it points to previous structure support zone from 2008 with nails. Look left ;) - "this is a copy-paste" ...
I need your constructive comments to improve my analysis in Elliot waves. Please give opinions... Thanks in advance ;)
Monthly Cypher - link below
Eventual Shark:
Point B: 61.8% XA Point C: 113% to 161% AB Point D: 161% to 224% BC 88.6% to 113% XC Target: 38.2% to 100% CD
Hi.
The impulsive legs down don't look all that impulsive.
It's very tricky to assume a structure is an impulse. In fact, they are quite rare in this scale.
IvanLabrie
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One key thing people never look for: structures can end in a higher low. The way your C moved up, is rather vertical and drastically different, I think a new structure began there.
Andre_Cardoso
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Nice tip Ivan, thank you... that higher low as an end freezed my brain ;) i need to explore a lot more about those possible moves, im trying to get some "eventual control" over elliot to then sync with harmonics and other stuff, i think i should had started from the beginning and not from the end ;) thanks
IvanLabrie
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My reccomendation, ditch traditional EW, read the Neowave book: "Mastering Elliott Wave", by Glenn Neely.
If you read the section on plotting data alone, you'll understand why I say this. This is a good start too:
neowave.com/company.asp forex-third-eye.com/glenn-neely.html
BLUE43
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it could a next 5 wave on wolf coming around 0.75 before down ?
The impulsive legs down don't look all that impulsive.
It's very tricky to assume a structure is an impulse. In fact, they are quite rare in this scale.