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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
If we now look back to the July 2008 high we have a nightmare pattern but my preferred count would be abc:A finishing at the 1.1875 low, then B move up to the May 2011 high at 1.4938, and now the C down in progress. The projections for completion of C would be at 1.0780 or ext at 0.9646. This count would render your 1.37 retracement unlikely for the near term but sometimes I am wrong so I respect your view !
spooky markets...
notice 4 hr short from 7/30 2291/83 (my trade 2291 short then stopped by trailer at 2241) however 4 hr still short from there surviving two near 1 pip misses for closing and then survived the flash spike..
and I missed the continuation south however.
now sidelined..boxed by nfp and weekend..
reserve investment now..more sails, rudders, rigging, and rum...
I more likely to go for bust on the higher timeframe than contemplate 1.37 :-)
@Q, yes agree :-)
http://www.cityindex.co.uk/market-analysis/ashraf-laidi-blog.aspx
Ashraf
Just point of interest for retro analysis, EU hit the 50% ret of the 5W move up but did not go on to make symmetry at 2170.