5 months ago
LIKE IT IF YOU LIKE IT:D
still not in for longs on eu..
last nfp resulted in a move I did not anticipate on with .
The dollar getting higher again. It may be a correction now, but i dont think so. we will be seeing on shorting time frame how it will be acting at 618 level. After the 618, the trendline will be next interesting point, which must be violated. Next interesting level on higher tf would be around 1.08.
this is just an idea.. its not a setup. make ur own your to trade with. its merely a direction to keep in mind.
most pairs are in line with this idea, wrt general direction derived from dxy .
comments are welcome, but put a chart with it, if possible:). So i can see what you mean. I dont trade fundamentals, only keeping half an eye on it. I wont trade at referendum for example.
5 months ago
Comment: pretty strong bears huh.?!
yes! very nice comment:D. Because I see the complete structure on daily tf as a flat 335, the pattern on the interactive chart is a 5 wave pattern. A 3 wave fits better, but the strict rule of wave 4 cant overlap wave 1 is less important in such a structure i think, so i decided for the 5 wave. The other decision to do is a 333 complete corrective structure, but i prefer to draw it this way. I hope this answers your question. thanks for the comment!!
Hi. Just found the Elliott Wave chat box. New to EW. Can you explain your wave count? Wave iii of wave 5 in your chart is the shortest wave. Do you have an alternate count? It could be that iii is where wave 5 ends and starting from there it's created an expanded flat (Where iv is now A and v is now B). Where it meets the trend line is the end of C fow a full (W) and that new high is an (X)
coolcool, this would suggest a zigzag of the second part of the correction though, in which only 5-3-5 is fitting i think. Thats suggest a more sharper move up.. Which is why i did not go for that analysis, because i think it has to go down. I see you mention that its dubious;) Nice thinking sir! I dont say its impossible, lets see now.