InsideMarket

EURO/DOLLAR - Forecast of two scenarios within the consolidation

FX:EURUSD   Euro Fx/U.S. Dollar
- Do you know where EURUSD             will go?
- Me either, but I have some clues to share.

Happy trading!

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SCENARIO TWO
+1 Reply
I don't understand why you label scenario two as 5 waves... I haven't seen elliott wavers label a 5 wave correction. I'm sure you realize that W3 in that scenario was not impulsive... only because W4 would be far too large.
+1 Reply
Your points are pertinent. I'm thinking beyond the theory because - you may agree - it's easy to label what already happend.

About the (potential) wave 3, I'm assuming it's a C wave for now. Let's see how it goes!
Reply
kosai19 InsideMarket
I only really mentioned it because most elliott wavers are a stickler for the rules. I actually count 5 wave corrections as my own style of waves. The reason I do that is because it works... I know in reality W1 is (a) of the higher degree but I still choose to label it this way since the ratios of the rest of the waves are the same.
+1 Reply
kosai19 kosai19
To add... I think elliott waves rules are outdated or the markets have evolved past them. I think that's the main reason it fails for so many people... Generally you have to find an edge and do things differently to have a lot of success....cheers.
+1 Reply
I use Elliott waves with a strong sense of fractals. It drives me crazy, but the challenge is big as the reward.

Cheers!
Reply
Scenario one or two, dont metter, WE WILL TRADE!! :D
+1 Reply
InsideMarket Piet.Hein
Hooray!
Reply
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