DrFX

DrFX

I was expecting 1.37 or even higher on Euro, but we seen to have either an expanding wedge as an ending pattern 5-3-5-3-5 or of course it could be wave 1 of 5 of C, need more conformation. Any thoughts?

DrFX

Price seems heading for 1.37-1.38 in a 5 wave pattern to complete a C wave. Looking at wave the wave C structure a (i) = (v) equality target would come in just below 1.37 (also the January high). Looking higher there is the A=C target at 1.38. Currently it looks like wave (iv) may have completed after price spiked below the lower corrective channel today. It...

DrFX

My wave counts for Cable. Good luck.

DrFX

Looking at the move down from the 1.34s as impulsive, would like to see a healthy correction to the 0.618 or 0.5 fib before much lower, Daily H&S target is around 1.18...

DrFX

Looking for 1.34 A=C equality target on Euro which is also the 1.61 of what I suspect is wave A

DrFX

Possible idea on how the correction may play out, assuming this is a 5 wave structure on daily. More on triangles stocata.org

DrFX

Move lower seems to have failed, therefore I am assuming the initial move is an A wave against the trend and we have completed wave B

DrFX

Waiting to see how price reacts around 1.268, a daily/weekly fib level and important support/resistance

DrFX

I'd really like to see us visit the full 50 back of the daily/weekly chart around 1.29 and this channel could neatly get us there, in the PRZ we have the head and shoulders target, a wave equality target, the top of the channel would give a 50 back too. Next week hocus pocus prediction would be LONG to 1.33, SHORT to 1.30/1.29 depending on price action then load...

DrFX

Possible indication of downside for the Euro? Explanation > www.guppytraders.com

DrFX

Possible idea that 1.35 will miss and this is an overlapping 5th wave, re-tracement time? www.thepatternsite.com

DrFX

If we are in the 5th wave of the move up that began at the end of July, 1.34 seems like a good target. I re-entered at 1.29

DrFX

This could be a decent long term daily trade.

DrFX

Euro is gearing up to pop higher, may not reach the ideal retracement area, looking for a signal to go long, expecting a move beyond 1.32

DrFX

Interesting that these equality targets have been hit on US election day. We still have room for further lows with 1.26 coming in at the 50 back of the larger move upwards.

DrFX

Back to this Large ABC = WXY retracement idea >> www.elliottwave.com << Simple, complex, more complex

DrFX

Scenario to watch for if the move higher fails next week and breaks 1.299 which is the bullish count wave 1 top.