FX:EURGBP   Euro Fx/British Pound
413 9 0
Is 0.73-75 where this is going?! Or are we already on our way to 0.95+ and we're in a confusing correction?...
Looks like we are going down.
Reply
Hey Monk, great to see your perspective. I'm overall bearish on EURGBP. However, the GBP has strengthened a lot lately (even though so did the Euro at the same time, so it's not easy to understand which currency in the EURGBP pair will have a stronger retracement). The way I see it is that there is a likelihood that the EURGBP pair retraces to the 0.90 levels as you mentioned and then will go down to the 0.76 levels. I am sharing my chart here with you
snapshot
... I think I'd rather wait and see what happens. Will certainly short at 0.90 levels! Tell me what you think.
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Monk ChrisGrech
hey buddy... pls can you repost the link? it says its invalid. i really have no idea! i may take a short shortly...
Reply
Hey... sorry about that.
snapshot
Reply
Monk ChrisGrech
if ur using EW, then the 12345s cant be used in such a way as they overlap and break the rules... do u know what i mean?
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you mean that wave 4 overlaps the low of wave 1, right?
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Monk ChrisGrech
yup... use abc's instead :) have a read...
http://www.tradersedgeindia.com/elliott_wave_theory.htm#complex
http://www.esignalcentral.com/university/get/getManual/eSignal_Manual_ch9.pdf
http://www.elliottwave.com/tutorial/Lesson3/3-5.htm
http://www.mql5.com/en/articles/260
Reply
Great! thanks a lot :)
Reply
Monk ChrisGrech
nps :)
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