DOW is in an interesting point as it has been in a bull market for some years now and time for a reversal/correction is certainly due - but not without a last push up by the giant index.
As shown in the chart, we've seen a series of 3 wave moves in a consolidation of sorts and this generally indicates that the move is either an ending diagonal or triangle as...
Final wave 5
Wave 1 - standard impulse (i)
Wave 2 - WXY (ZZ variation) (ii)
Wave 3 - Extended to 2.618% (iii)
Wave 4 - Flat wave 4 (Rule of alternation met)
Wave 5 - 1 vs 5 = 100% and 3 vs 5 = 0.618% (Key Fib termination points as defined in EW)
From the high (v)
Wave A - ZZ down
Wave B - Complex Flat retrace between 0.618% and 0.786% of Wave A.
I have Ripple wave 1 and 2 complete.
1 - Standard Impulse up with fibs met
2 - Triple combo with a retracement of 78.6%
3 - Next forecast is a MASSIVE wave 3 impulse up which, at a minimum will be 1.618% of wave 1
Massive buy from the EUR last week and I am seeing divergency in almost every time-frame so it is definitely overbought.
As per my count, I am now seeing a clean and clear impulse up now as per Elliot Wave rules and guidelines, along with Fib extensions hitting - please see summary below.
1. Wave 2 and 4 - Rule of alternation has been met with wave 2...
The same count still applies as per my previous count but I am getting more and more convinced that this upcoming wave C will have a massive dropped when the FEDs hike up the FFR tonight!
As per my previous count, I am up 150pips, and looking to close a further 1100pips at the close of the gap at 1.07359 - EXCITING TIMES AHEAD!
Wave C possible extensions are...
Self-explainatory and my bias is towards EUR being bull.
This year has been completely EUR dominance and I don't suspect anything to change unless US goes to war with Nth Korea or if Trump gets impeached (ahhhh - that would be amazing)
It's been a while since I posted so thought I'd update a quick count on this pair as I am anticipating a shape wave C short for the upcoming week and possibly the next few weeks.
Since my last post, we saw EU spike up back to the levels back when Trump won the US elections last year; and now, EU is in a corrective wave down to potentially close the gap...
I've been following all USD pairs closely and I am anticipating a buy back from the dollar across the major USD pairs and AUD looks like it is will follow suit. I've been tracking this pair since the low made in Jan of 0.6822 and post the impulse up, a corrective structure has been in play that has been a bit confusing but this count makes good sense from...
Last week, I posted a EUR correction that I thought has started but sure enough, market always seems to push up more than anticipated. However I still firmly believe the count is still very valid as we have been extremely bullish since the 10th of April since we hit a price of 1.15690 and a retracement is due so I am on the hunt to re-enter a big short...
Ive been racking my brains to see why EUR keeps rallying even though maximum fib extensions of 686% has been reached; but I think I have a possible solution which makes perfect sense!
IT'S A FLAT CORRECTION!!!!!! (3-3-5)
In the bigger picture from my previous post, I am expecting a bigger ABC correction to close the gap which I think is still...
I am sharing an alt view on Eur short as it also makes sense from an EW perspective - my rule when it comes to analysis is to not rule anything out until it is unvalidated so this could also be in play.
Alternative Short Count:
Wave 1: Off the break of the triangle, there has been an impulsive wave down.
Wave 2: I have this wave as a double ZZ...
It looks like USD is about to make a final push before a yearly decline of the Dollar move start happening. I am seeing this in the CAD, EUR, CHF and the USD Index.
The count for this pair is as following.
Wave 1: Impulse
A wave - Impulse down from the top at 0.7835
B wave - I have this marked as a triangle as I am seeing higher lows and...
EUR is looking like it is exhausted as the current push up is slowing down so a time for a corrective structure will follow after an impulsive move. However, the question here is ' has the impulse finished?' My updated count say it is but there is a chance that 5th wave could extend further as the bullish price action is still present.
I am anticipating...
Crazy moves by EUR and nice to see finally but is the impulsive wave over? My count previous count is still valid but instead of 5th wave terminating at the standard 100%, 1.618%, the wave has extended to 686% which is rare. However, given the nature of US economy and the recent Macron win has definitely given EUR a boost.
Please see the count so I am...