UPDATE #1: EURUSD: All Roads Lead to Wave 3. Added Deep Crab

FX:EURUSD   Euro Fx/U.S. Dollar
In my last post on this pair (see Related Ideas: " ANALYSIS: EURUSD: All Roads Lead To A Wave 3"), I identified a bullish Gartley and a bearish butterfly patterns. In this update, I have removed the bullish Gartley as I do not think it is relevant anymore although it is STILL valid. But as per my possible updated wave count, I don't see prices heading any lower to complete that Gartley . That's why I have removed it. So what you see here is that I have added a POTENTIAL Bearish Deep Crab pattern that will end nearby the bearish butterfly completion as well.

Be careful not to get over-enthusiastic on any trade because this pair is in consolidation mode and therefore prices will swing back and forth. This is what my possible wave count shows. Before either of these 2 patterns will complete, we should see this swinging PA in the form of a smaller contracting triangle before breaking out to the upside to head towards the upper trend line of the larger contracting triangle and the pattern completions.

What's important to keep in mind always is the bigger picture. All this PA is happening within the larger contracting triangle pattern consolidation on the DAILY TF.

Currently, I am LONG and have been holding LONG positions on this pair for weeks now. Although this pair is showing signs of moving upwards within the contracting triangle consolidation (DAILY TF), I am not adding anymore LONGS as I don't need to. But having said that, this is a good place to get LONG if you want to because prices are near the bottom of the larger contracting triangle and showing signs of moving upwards. Also, I do not see any breakout to the downside happening. That's NOT to say it can't happen. Anything can happen.

Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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nice Analysis: here is my newest one:
Will the possible bullish HSH beat the bearish Flag?

It seems that the Pair is forming a bullish shs. If the Formation will be triggered, the longterm downtrend has to be discussed. The possible neckline is based near the trendchannels upper edge. i hold onto my former bearish Analysis for the pair (
Enough Rebound?
- At the moment i see on the one hand the chance for a double bottom with basis 1,08. The target of this formation is 1,1425. -Above 1,1425 there is enough place to make a new high at 1,18. (orange counting)

On the other hand there is the strong momentum and dynamic of the longterm downtrend - we are trading at its trendchanels upper edge. This can perhaps be interpreated as a new anticyclical selling signal as long as we trade below this level.
-Below the last valid orange "3" at 1,08 a drop to 1,04 can be exspected
-below the last valid red "2" a longterm selloff can be exspected with target @ 0,92) , but the possibleshs could Change my view.
+1 Reply
Appreciate your different point of view. It still hurts my eyes to look at your chart, bro! It's probably because of my poor eyesight! ;-P
thank so much.
you think that gartley is not relevant, but in that daily wedge,it has yet to touch/test the bottom trendline somewhere gartley D point.
I had just re-added that Gartley to my charts. Recent PA has brought it back into focus. We'll see where it goes from there. As in my original post, if that Gartley should fill, then it also hits the bottom of the triangle. Good place to take longs.
wow... it's going down...gartley is "not relevant"
if you don't like my posts, dude. You don't need to follow me. Such comments are NOT constructive nor welcomed. If you got something constructive to add to the conversation, then say it. I don't mind. What? Do you think I'm supposed to 100% correct? Are you?
nezyrinfx EverythingForex
bcoz ive follow your posts, and to see you are ruling out things. i did add my constructive comments by posting analysis to share with you. it wasnt suppose to be 100% correct but you can't just rule out things like as if you are making it a confirmation. and my comments here on your posts never get any replies, had me thinking are you some sort of arrogant person that do not take other people's comments / analysis. not even a thank you.
First of all, if you have been trading as long as i have, then you'd know that you must rule out things that are not relevant to your analysis. Do you know how many "things" I rule out that I never even post about? When you do patterns, wave counts and such, there are so many ways you can count the waves, there are multiple patterns everywhere. You MUST rule out things that are not relevant! If I put up everything I saw on a chart, you couldn't make heads or tails out of it.

Second, I've never seen any of your replies to my posts. And when I do see someone thank me, I say you're welcome. And to that point...you think I should be thanking you??? REALLY? Do you know how much time it takes for me to do my posts? I could just slap 2 lines up on a chart like you did and call it a day. But I take the time to actually EXPLAIN what I'm doing and WHY I did it. Why? So I can give back to others here and just might HELP someone to maybe learn some of the things I've learned over 25 years of trading. Oh, geez...thank YOU SO VERY MUCH for reading my POSTS!

If I am so arrogant, I'd just dismiss you and anyone else who asks me questions. I don't. Many guys here have PM'ed me and I've taken the time to answer them in much detail.

Actually, I will be a little arrogant now....I don't know why I am even responding to your negativity. I should just dismiss it.
+3 Reply
automatic 214 kapatid00@yahoo.com
AriesBanderas AriesBanderas
on i made on my on myn trade in gogo autocompatible now
Comment removed
EverythingForex PRO AriesBanderas

From what I know your bearish crab is not looking valid, can you tell if you have another method of measurement diffrent then Scott Carney? I like you charts, combination of harmonic pattern and elliot is a very nice aproach.

Do you mean the crab as it is on my chart above? Or after recent PA? If after recent PA, then no, the crab is no longer valid. I will be updating this pair soon and this analysis is also no longer valid.

Thanks for following me! I appreciate it!

BTW, when it comes to harmonic patterns, I strictly follow Scott's measurements as it pertains to the classic patterns.
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