finitemonk

If this is true... (1)

FX:EURUSD   Euro / U.S. Dollar
167 2 3
I do find triangles esp             . of this kind one of the more difficult patterns, a bit counterintuitive, because it's almost atop a bull run, anyhow, now correctly labelled I think. Behaviourally it's falling, falling, off the triangle, out the up channel , this little correction is a panic, 'oops dropped out'.
Where to? Maybe it just continues to unfold as motive, this completed as (i), now in (ii), (hunch, wave (a) of C as full motive) and so on, who knows. Near parity, possible, to the down channel bottom: 1.618 extension of wave A, & the 0.7639 retracement. At some point it should a-b-c. If stock markets continue down, the safety of bonds will help strengthen the $ (one reason they cannot do it, in order to cool the dollar they will be forced, like every other CB             to cut them, IMO             , or bond markets collapse, or oil             producers act ...)
Understanding this pattern, made me realise, hmm, oil             is the same (so very similar in movement). Likewise PMs moved out of ABC patterns to form motive .. so, if this is true ...
Interesting chart/count - thanks for sharing...
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Thank you, & welcome.
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