FX_IDC:EURUSD   Euro / U.S. Dollar
91 6
If the whole upward move of EURUSD             since Mar-2015 is not a leading diagonal of new up trend of #EURUSD to form 5 waves up, then its a WXY correction (or WXYXZ). To correct the recently made leading diagonal , EURUSD             might fall as deep as 1.10000 before heading up to complete its wave-Y
Elliottician_SamRoy
I agree with the overall wxy but the leading diagonal breaks the rules, the structure is 5-3-5-3-5 where here it seems to be all 3's and another rule is that wave 1 has to be bigger in price than wave 3 and wave 3 has to be bigger in price than wave 5, not the case here. All the same size and all 3 wave internal structure could mean some kind of double (wxy) or triple three (wxyxz). The idea is the same and i agree about the projection in price. Good luck!
jdemunter
thanks for feedback Jdemunter. I agree with u but the diagonal which u defined is contracting diagonal and the opposite is expanding diagonal in which each next impulsive wave is longer than previous one. Certainly the property of leading diagonal is to have 5-3-5-3-5 pattern but believe me mate in all these years i have also seen 33333 pattern in leading diagonal and if u know EWI, they amditted that a leading diagonal sometimes can have 33333 pattern. an example from Gold leading diagonal is attached below..
Elliottician_SamRoy
I've been doing EW for close to 10 years, and in my experience, the leading diagonals that show 3-3-3-3-3 structure are better counted as a corrective wave pattern. This example you show has broken a rule as well, wave 1 is not bigger than wave 3. But in the end it's how it fits into the bigger picture and if you count it as a leading diagonal or triple three, if you both come to the same conclusion that the complete move is a wave in a bigger corrective pattern then there's no point in discussing about it. Counting a rule broken contracting leading diagonal as a wave 1 is something i do not agree with. As for EWI, they have recently talked about allowing wave 4 to come into the territory of wave 1... Might as well not have any rules if they start like that.

Hoping we both make big money on this eu count. Good luck !
jdemunter
Certainly Jdemunter.. Agreed !!.. and yes amin to the wish ;) thanks
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter