Oct 182011
 

I hope you heeded the warning about the final chart I presented in the most recent update, that it is just something to watch as a matter of interest. If I was sitting in your trading room, I could have told you that we are finishing the five wave move at 1.3910/15. How is that? Well, take a look at the charts shown here. The Euro followed the same rules and guidelines that I have explained in the book “Five Waves to Financial Freedom”.
By the way, there is good resistance around 1.3785 which is not only a 50% retracement of the first downmove, but also the prior 4th wave of the just completed downmove

  2 Responses to “Elliott Wave Analysis of EURUSD”

  1. you said you would have called 1.3915 for euro, is it really that accurate? do you have a trade room?

    • Hi Osaki, what I was trying to convey there is if one were watching the move in real time, I would have been possible to determine that around 1.3915 levels there was a good chance to turn, especially if we observe it was unloading in 5 waves within the fifth. I don’t have a trading room, and I don’t offer any trading advice to individuals. However, I have more than a dozen traders reporting to me in my dealing room, and I have live prices and access to markets all the time. Only I am too busy with a whole bunch of things that makes it a challenge even to keep this blog running.

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