4 Hour chart as below with projection of waves but a good idea is to look on trading day set up prior confirmation, like using moving averages.Cycle lines give a good idea of when would it end and begin.
Sunday, June 5, 2011
Weekly wrap up EU Elliott waves
Buying pressure is not over while bearish continuation may just behind a few days.
4 Hour chart as below with projection of waves but a good idea is to look on trading day set up prior confirmation, like using moving averages.Cycle lines give a good idea of when would it end and begin.
4 Hour chart as below with projection of waves but a good idea is to look on trading day set up prior confirmation, like using moving averages.Cycle lines give a good idea of when would it end and begin.
Thursday, June 2, 2011
Sunday, May 29, 2011
EU 4H chart weekly wrap up
4H time frame with best retracement for 4 ( wave 3 at 149.xx) and alternate count for (C) at 149.xx
But overall conclusion is the next wave is down on next trading day possibly after 143.35 or just above 143.43
But overall conclusion is the next wave is down on next trading day possibly after 143.35 or just above 143.43
Friday, May 27, 2011
Tuesday, May 24, 2011
Euro Dollar 138.50 in view
A recount in 4H chart as below, even daily chart is still valid, looking for more down move today.
Sunday, May 22, 2011
Euro Dollar Daily Chart
This week despite 800 pips down from top 149.xx I am still with bullish daily trend. At the moment the bullish daily count reach their important junction to invalidate the count. Even breaking the classic trendline for a continuation of bullish as many noted. I still accept that wave 4 could retraced to the level of extreme of wave iv ( one lesser degree, and in this case as the wave 3 was in extension I take wave (iv) extreme as acceptable level).
To invalidate the count of 3 wave 4 should not reach the extreme of wave 1 which at 138.45. And if the converging move a few days ago was a leading diagonal, most likely the retracement is deep and reach 0.786% or near 1.4115 ( last low was 1.4130.) After that a wave iii will bring higher than 140.43 and make this probability to almost truth.
Even not so genius to be bullish at this time, I still with the count until proven otherwise. Stay flexible, and if the move break the low 140.45 an alternate count will be preferable.
Daily chart reviewed as below:
A more zoom to 4H chart is here,
A break of the blue trend line most probably invalidate the count.
Best regards,
Azamli Nawi aka exsanova salvatore dondouva d'angelo.
To invalidate the count of 3 wave 4 should not reach the extreme of wave 1 which at 138.45. And if the converging move a few days ago was a leading diagonal, most likely the retracement is deep and reach 0.786% or near 1.4115 ( last low was 1.4130.) After that a wave iii will bring higher than 140.43 and make this probability to almost truth.
Even not so genius to be bullish at this time, I still with the count until proven otherwise. Stay flexible, and if the move break the low 140.45 an alternate count will be preferable.
Daily chart reviewed as below:
A more zoom to 4H chart is here,
A break of the blue trend line most probably invalidate the count.
Best regards,
Azamli Nawi aka exsanova salvatore dondouva d'angelo.
Thursday, May 19, 2011
Diagonal Live in Two World
Diagonals are special type of motive waves which however are not impulses. Subdivided in two categories which are Leading diagonal and Ending diagonal. As suggested by the name one is a lead of a new trend and the other is an end of the trend. Also called type 1 or type 2 which I prefer the previous categorical name which suggest the function of each.
Leading diagonal or many call it a wedge is a "narrowing of prices" till if we connecting between waves a wedge will be seen. Some people said it was not Elliot that describe the pattern but Frost and Prechter so it is included only in "modern" Elliott wave theory.
Slowing of prices occur as wave 3 and 5 develop or in the other words the price movement occur fastest in wave 1, slow in wave 3 and slowest in wave 5. However complying to the Elliott wave rule, the wave 3 wouldn't be the shortest wave.
Leading diagonal have 5-3-5-3-5 subwaves while the ending diagonal have 3-3-3-3-3 subwaves. The rules are narrowing of prices which can be seen as two converging lines ( a wedge). The wave 4 OFTEN overlap with wave 1, It occur as part of motive wave 1 or wave A of a zigzag in places.
Back to Euro/Dollar moves from 140.45 to 143.36. Generally it looks like an OVERLAPPING waves so this can be a CORRECTION from 800 pips down from 149.xx or a DIAGONAL ?
If it is a leading diagonal so it support the start of wave 5 in my previous daily count which noted that 149.xx was a wave 3. If it is a corrective so we are going to see more move down from breaking the lower lines so to suggest that 140.45 to 143.36 is a Triangle.
Looking deeper the inside of subwaves will unlock the story behind all this mystery but as ALWAYS a look deeper will suggest more complicated discussion and at last a mystery is always unpredicted till it reveal itself.
What a possibly see now could be a leading diagonal, so after the retracement breaking the lower trendline, a move up till confirmatory above (i). If it is a corrective triangle after a break of the lower trendline, a move down further will occur below 140.45.
The safe side is to wait and see ( a safe play mean no trade). But most of us won't wait and see because we are energetic people and risk taker. So Good Luck!
Re-included 1H chart of euro dollar with a suggested Leading Diagonal ? OR NO.
Leading diagonal or many call it a wedge is a "narrowing of prices" till if we connecting between waves a wedge will be seen. Some people said it was not Elliot that describe the pattern but Frost and Prechter so it is included only in "modern" Elliott wave theory.
Slowing of prices occur as wave 3 and 5 develop or in the other words the price movement occur fastest in wave 1, slow in wave 3 and slowest in wave 5. However complying to the Elliott wave rule, the wave 3 wouldn't be the shortest wave.
Leading diagonal have 5-3-5-3-5 subwaves while the ending diagonal have 3-3-3-3-3 subwaves. The rules are narrowing of prices which can be seen as two converging lines ( a wedge). The wave 4 OFTEN overlap with wave 1, It occur as part of motive wave 1 or wave A of a zigzag in places.
Back to Euro/Dollar moves from 140.45 to 143.36. Generally it looks like an OVERLAPPING waves so this can be a CORRECTION from 800 pips down from 149.xx or a DIAGONAL ?
If it is a leading diagonal so it support the start of wave 5 in my previous daily count which noted that 149.xx was a wave 3. If it is a corrective so we are going to see more move down from breaking the lower lines so to suggest that 140.45 to 143.36 is a Triangle.
Looking deeper the inside of subwaves will unlock the story behind all this mystery but as ALWAYS a look deeper will suggest more complicated discussion and at last a mystery is always unpredicted till it reveal itself.
What a possibly see now could be a leading diagonal, so after the retracement breaking the lower trendline, a move up till confirmatory above (i). If it is a corrective triangle after a break of the lower trendline, a move down further will occur below 140.45.
The safe side is to wait and see ( a safe play mean no trade). But most of us won't wait and see because we are energetic people and risk taker. So Good Luck!
Re-included 1H chart of euro dollar with a suggested Leading Diagonal ? OR NO.
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