My preferred Elliott waves counts from June 2010 is (A) -(B)-(C) in which (C) yet to be completed. The channel in (C) is a linear regression channel for purpose of wave equality in that degree.
In the (C) channel my preferred count is again 1-2-3-4-5 waves as opposed to alternate count A-B-C. The daily RSI 14 is entering 72 level in which show a tight room but to achieved 149.xx for a count of wave 3(or C). The candle also has entered the upper standard deviation line that could say a down move is ready for a correction.
I believe that the minute retracement will occur for a lesser degree count ( 147.xx) before 3 or C is achieved in early days in first week of May. However if 146.30 is broken the count of 3 or C has already achieved at top of Friday trading day. Forex is a risky trade decision and this is my personal view only.
No comments:
Post a Comment