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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:

EUR

Discuss EUR in this thread
 
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jacek
Melbourne, Australia
Posts: 2579
13 years ago
Sep 15, 2011 23:48
hey djellal.. "as i told you !" on the monthly just doesn't cut it:-)
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Sep 15, 2011 23:41
I am only looking at the move down from 1.4311 high. Looks impulsive wave so once the series is ended it could transpire to be a completed wave 1 on higher degree. Looking back to the corrective high on 25th Oct 2010 we seen a double top on 8th June 2011 which slightly confuses but could be a truncated Wave C. Then we get W.1 down and W.2 up and now into W1 of 3 (1:3) in progress down. All a bit subjective and not as clear as one might like.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Sep 15, 2011 23:27
I like to try catch the 3:3 and move stops into good profit almost immediately :-)
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Sep 15, 2011 23:26
A diagonal has rather irritating characteristics
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Sep 15, 2011 23:25
Then the wave 5 down will have less momentum than the wave 3 and can sometimes be a diagonal.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Sep 15, 2011 23:23
Wave 4of3 (4:3) normally makes shallow retracement, a lot more shallow than a wave 4 coming in after the wave 3 is fully completed.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Sep 15, 2011 23:21
Waves 1,3 and 5 should all subdivide with 5 waves within each on lower timeframe, but 5's will sometimes truncate and catch us wrong footed. Wave 3 is usually the longest wave but not always and wave 3of3 is ALWAYS the most impulsive.
DaveO
N.Cornwall, UK
Posts: 5733
13 years ago
Sep 15, 2011 23:13
yes cygnus I would favour 3:3 at the current 38.2% level if it heads south rather than north as Ashraf appears to favour although I am not party to his premium comments, only what he said below. I didnt want to argue an immediate bearish case in as many words because EW is subjective especially with forex.
chloethebull
halifax, Canada
Posts: 1183
13 years ago
Sep 15, 2011 23:11
hey dave,what do you think of the drop from(daily) 14110into the 13460lo retr back to 786=13962 to me if it hold then eur$ could move back into the lower range..i do see that bigger pattern from 14550hi-13460lo but needs to climb towards that 50=14010 to be valide for a bigger move down..not much overlapping from either pattern except around 786on smaller patern and 50=13475 on the bigger pattern..but either patter shows us a move atleast to 13750-13800 area..thanks gl/gt:)
Qingyu
manchester, UK
Posts: 1763
13 years ago
Sep 15, 2011 22:39
cant handle EW on fx...just for me...
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