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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
Alternate:-
Your W.1 = W.A
Your W.2 = W.B
W.C in progress or completed above the 127% ext of A (1.4705) at the 1.4938 high.
Alternate count would be invalidated if and when the 1.5143 pivot high is taken out.
just counting the last main wave... from 2873(currently acting as main support for trend reversal)
wave I - 2873~3861
wave II - 3861~3428(clear abc correction)
wave III - 3428~4940(confirmation of wave ending by dropping below 4157... )
wave IV - 4940~3969? (confirms if euro breaks higher to new highs)
could already be starting the Vth wave....
break below 3861 confirms much bigger and lengthier correction which i believe could target as low as 32xx level....
remember the line drawn from july 15, 2008 high to nov 25, 2009 high? very important line imo... i'm sure you think the same.... weekly close below that level could be a good signal for shorts initially to 36xx level.... as long as Euro trades above that line(euro clearly trading back above that line atm)... could just be heading heading north....
that line currently running through 4150/4200 level.... one of the main reason why 4150/4200 as important support level for me....
to the upside... i have important lines running thru 4730/50 level and 4740 being around 78.6% fib level.... a weekly close back above that level and i believe it's heading north....
the main reason why i mentioned 4150/4200 ~ 4730/50 range.....
many bears assuming it will only correct 50%, 61.8% fib and headed down... but if you start assuming things... that's when you start getting in real trouble.....
good luck digi and all traders...
will short if euro stops at 4550 level on the left shoulder
i am not korean , thus i cant be right all the time
a trend i realized lately...
when you suddenly pop up and scream for a direction.... usually goes the other way... :)
just joking! lol...
how are trades going puzzio?...
any posi atm?
just wait fo greece to annoounce the restructurysation of its debt
yes... 4340/50 would now act as good support... but daily close below that level and we see 4180/4200(playing all the diff possibility) level coming into play.... doesn't necessarily mean downtrend has resumed... :)
weren't you screaming short for 3800 last week?
just remembered... :)