FX:EURUSD   Euro Fx/U.S. Dollar
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Joseph, good try on the EW labeling. One technique I use to estimate the potential for a wave 4 stopping point is to draw a line at the end of waves ((1)) and ((3)). Clone that line and place it to the end of ((2)).

snapshot


Sorry for the messy chart - I haven't cleaned it up yet. But you can see how prices rejected near the channel. I'm not advocating that we are in a 5th wave lower, but to gain a sense if the wave labels make sense, try the channeling technique to help frame the prices bettter.

Then, once it appears wave 4 finishes, redraw the trend channel connecting wave 2&4. Clone that line and place at the end of 3 to offer a projection of wave 5. The GBPUSD daily chart below is a great example of that.

snapshot


Happy trading!
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