Boon2
Short

EURUSD W1 Z Down, Parity Here We Come!

FX_IDC:EURUSD   Euro / U.S. Dollar
W1 Longer term I'm expecting the Z wave down at least breaking the low. The ABC expanding flat structure may not be over and could turn into something more complex due to the time factor!

This is not a trade call but selling pullback's is the way to go longer term.

This is a longer term view so I will be updating this idea as price plays out on lower TF's with potential setups!

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Nov 13
Comment: H4 expanding flat trade C up, Check out the idea detail's for the complete picture. Thank's
Nov 28
Comment: EURUSD H1 Wave C up. Checkout the idea detail's for the complete picture. Thank's
Not sure how you go from Z to Z. Shouldn't there at least be some impulsive move between the two? Also your Y doesn't seem like any kind of 3 wave. Disregarding the 1st question, would seem to make more sense if what you have labeled as your 2nd X to be the B of your Y and now the C of the Y has started.
Like the triangle idea though. Thanks for posting
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mommyouan mommyouan
Edit: ...if what you have labeled as your 2nd X to be the B of your Z and now the C of the Z has started....

Meant to say "Z", not Y
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Boon2 mommyouan
@mommyouan, Is meant to be a MN C up the top and regard's to the Y being one wave and not 3 wave, W is the same. As far as my count it follows my rule's which make's my count's much more consistent and easier for me to follow the structure's like the triangle you like. Share your MN count?
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@Boon2, haven't touched the macro in awhile but this is what I had when I pulled it up. Two counts, either the Y is in and we're going 1-2 up or we're in a diag down and we're on our way to parity


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Boon2 mommyouan
@mommyouan, Thanks for sharing. We count very differently, I have rules I must follow for my count's to make them consistent so I don't just put symbols where ever i can make them fit, One of those rules is to maximize correction's so for eg. I can't have the 1 and 2 where you have them, wave 1 took 3-4x as long to complete than wave 2 if you get my drift.

Wave 2 is a correction so it should take at least 2x as long to complete compared to the wave 1

Hope this help's
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@Boon2, Ya, a correction lasting 2x as long as the impulsive/motive wave is not a guideline I'd follow. If that is the way the count works then I'd use it but the wave shapes are going to take precedent over a time guideline for me. I agree though that it's a quicker than normal correction then we would like to see.
Anyways, nothing fits perfect there as your X triangle is way longer than the W but nothing is going to fit perfect because that would be too easy and as we know, the market is not easy ;-)
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Boon2 mommyouan
@mommyouan, Yes it's defiantly not easy sometime. I used to count wave's similar to you and 99% of the EW'ers on TV, I found it simply didn't work as I would be continually changing counts to make them fit as price plays out. To put it simply it was pretty much un-tradable so I had to change the way I count. I now look for EW structures and a few tool's to count wave's that make's it much easier to count and 10x more reliable for me.
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@Boon2, Ya, I know what you are saying, especially for FX. I just keep the basic thought of trend in 5's, correct in 3's and don't fight the trend
+1 Reply
On 4H timeframe, there is also a Head & Shoulder that just worked into a Bearish 5-0
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Boon2 staringatskyline
@staringatskyline, Thank's for your comment, I don't look for H&S do you have a pic you wish to share?
H4 I have it as a Expanding flat at this stage, that trade is still playing out.
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