richard363
Short

EU.. same for dxy

FX:EURUSD   Euro Fx/U.S. Dollar
1516 21 31

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 technical analysis .

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.

DAILY VIEW
snapshot
Comment: pretty strong bears huh.?!
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)
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richard363 benchch
yes it is possible. I dont have an alternative count in general. But I use the rules flexible. considering dxy etc. I think EU is still weak and i wont change the analysis until proven wrong.
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benchch richard363
Ok. Yeah I agree I guess we are just taking different roads to the same destination. Will post my idea
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benchch richard363
snapshot
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richard363 benchch
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.
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Going Long from 1.1230 to 1.1550.
If 1230 broken then 1190.
+1 Reply
richard363 MetalCruisers
good luck!
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Isn't wave 4 cannot be overlapped with wave one?
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richard363 trungfoo
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!!
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eu is up not down .. monthly correction
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