Massive buy from the EUR last week and I am seeing divergency in almost every time-frame so it is definitely overbought.
As per my count, I am now seeing a clean and clear impulse up now as per Elliot Wave rules and guidelines, along with Fib extensions hitting - please see summary below.
1. Wave 2 and 4 - Rule of alternation has been met with wave 2 being a running flat and wave 4 a ZZ. 2. Wave 3 extended to 2.618% (Meets Fib extension guidelines) 3. Wave 5 looks like and Ending diagonal which signifies a terminal move so I'm expecting a BIG wave 2 retracement to close the gap!
Lets see what happens for the rest of 2018 - Good Luck!
코멘트
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Hi All,
A triangle is looking clearer now and so I am expecting a wave E to complete then a 5th wave rally before dropping.
Let's watch and see!
코멘트
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Triangle complete - Long for 5th wave and EU will fall like a tonne of bricks!
코멘트
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Picture perfect count - it's inching towards a new high so I'm keeping a close eye on the 5th wave count so see when that would terminate to start shorting EU.
코멘트
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Count looks complete - I am now expecting a massive fall for this pair!
Let's see!
코멘트
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Quick update: 5th wave extended but we've seen a massive buyback from USD and it has broken the previous sub wave 4 structure so we're going way down to close the gap! ENJOY THE RIDE!
Very impressive take on this pair. You are a very skilled elliottician!
donaldsaw
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@MoneyEngineer, been studying it for 5 years so I know it well :)
MoneyEngineer
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@donaldsaw, Im 6 months in and completely addicted haha. Just curious did you take the CEWA certification course on elliott wave internationals website? I am preparing for the exam now and will probably take it in 8 months.
donaldsaw
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It's been a while since I updated but here's my latest and preferred count.
Leading diagonal wave 1 and a ZZ re-tracement. We have a long SHORT ahead so buckle up and enjoy the ride down!
orocz
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It may fall soon massively after ECB statement in coming day. Perfect perspective.
UnknownUnicorn490324
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@donaldsaw also we have the same count except that last part. The 3 looks too short to me, your 3,4 and 5 are my sub i, ii and iii... haven't placed the 3 yet. hmm, but not so sure anymore. did you consider this?
UnknownUnicorn490324
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whats that scale on the right?
donaldsaw
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@MadBanker, Thanks for the comment. I counted the inner sub-impulse of wave 3 and the fib's match there also so hence why I have my wave 3 extension at 2.618% which is a key fib.
In addition to the count, there is a triangle sub wave 4 + divergence in almost every timeframe indicating EUR is overbought so I've gone short at the top as per my count.
Let's see what today brings as it seems to be dropping nicely.