Here is the short term view of my preferred scenario, given that wave 4 currently needs more time to be somehow comparable to the wave 2. However, as said in previous post, current legs folds into five wave, we are going straight into continuation.
Within next week or two we should see the wrap up of the fierce decline we saw. Wave 4 seems rather shallow so might spend most of next week going up to complete wave 4 correction. However, there is still a chance we continue lower straight into wave 5 to complete the decline that started end Feb at the two potential marked targets, and possibly this conclude the...
We are in the final stages of wrapping up decline in EURUSD. Should the setup be confirmed, we would be in place for 1000 pips short term uptrend. Speculative target zones marked in red lines. Actual targets, would be better know once and if move unfolds are forecasted.
Remark: Any post is for educational purposes and does not constitute a trading recommendation.
The EURUSD will remain in a confusing side ways movement with a lot of suprises in between. The pattern depicted is nasty and it then also indicates the volatility is expected to remain without a sustained trend in the near future.
For a clarification on the near term view here is a link to the weekly chart:
Remark: Any post is for educational purposes and...
It is a sad title, how true overdue correction is now a reality. We have peaked already back in October 2018 with the run we saw into end 2018 and early 2019 being part of an irregular flat. A pattern that kept me on the edge, as we are clearly out of energy but market was still rising. Until pattern was confirmed as a three wave structure setting the “b” label...
On October 2015, I had presented a scenario which depicts an ongoing correction since the top in 2014. During that post, I indicated that the DFMGI is undergoing what is known under Elliott Wave terms as a double Zig Zag. The count, I present today does maintain the same view, with the count now near completion.
The duration of the correction has gone beyond...
A favorite discussion the internet often likes to do is to debate whether we are in cycle, supercycle or grand supercycle degree in Elliott wave terms. Honestly for the immidiate life of most of us it matters less, unless we plan to live over 150 years!
For those not familiar with Elliott wave terms, the basic idea that growth or demise happens in 5 waves, with...
