EUR downtrend Short

Euro Fx/U.S. DollarFXCM

Description

⋅ Feb 3, 2017 9:55 AM

The targets for w3 are insane, but this is what the wave structure dictates.
W5 should complete in the vicinity of 0.91.

Wolfe Wave Elliott Wave

Comments

taxfreelt

⋅ Feb 3, 2017 10:12 AM

If this is Elliott Wave, I do not understand how so you can count up move as one ending triangle. Rather, this is the expanding flat ABC where C ending diagonal, the structure of 3-3-5

AlbertBa

⋅ Feb 3, 2017 10:16 AM

@taxfreelt, agree with you.

AndyM

⋅ Feb 3, 2017 10:18 AM

@taxfreelt, this is NO Elliott wave. This is a Wolfe-wave ABCDE pattern which is often found in corrective structures.

AlbertBa

⋅ Feb 3, 2017 9:58 AM

where will be the confirmation? below d ?

AndyM

⋅ Feb 3, 2017 9:59 AM

@AlbertBa, it looks done already.

AlbertBa

⋅ Feb 3, 2017 10:01 AM

@AndyM, what do you think can trigger this kind of insane move down? Meaning, what kind of fundamental reasons can do that?

AndyM

⋅ Feb 3, 2017 10:03 AM

@AlbertBa, The sell-off in bonds will trigger this. Only the dollar can accommodate that amount of liquidity. A chart on this to follow shortly.

AndyM

⋅ Feb 3, 2017 10:19 AM

@AlbertBa, Or it may be Greece, or Deutche Bank, or Yuan crash, or all together combined with a crash in bonds..