Apr 042012
 

My comments on MarketWatch a few days ago seems an understatement. No matter how fancy your charts are, and how imagiative you could be with attempting to figure out in advance how a complex correction will unfold, you are simpply shooting in the dark. This is why I went to great lengths to explain that whatever I have shown you on the chart last time could all be wrong. In a complex correction we should expect the unexpected. Trading a complex correction should be strictly for those with deep pockets and quick access to the markets.

I am presenting you with another chart, where I have made only a minor change to the count. Instead of the ‘X’ at 1.3002, I have placed a “b'”, which allows me to see a dip down to 1.3105 initially. We could later on go lower still to 1.2953, but I don’t want to discuss that before we see what happens at 1.3105.

Stay tuned! This is your live lesson on how to deal with complex corrections.

  5 Responses to “Elliott Wave update on EURUSD complex correction”

  1. Hi Ramki,
    Some very true points yet again in your analysis, but should people trade EUR/USD without consideration for the $dxy, which paints a different picture, with the index having just “looking” to have completed an irregular correction, with “c” 2.618 of “A” so we should now see a strong rally in the $dxy, sharp decline in EUR/USD, the recent swings of which are 824 pips or fibonacci ratios thereoff, the next of which would be 2.618 giving a low of 1.18342 , the last rally was 824, “your X” was 824 by 123.6, as you say, lets wait and see what unfolds,
    Also just wanted to say, I enjoyed your book very much,
    Regards

  2. sir went your way. keep it up. I don’t think anybody can challenge your analysis.
    now that it has bouning back if you can post an update?

  3. Thanks, it great to see how you count a complex correction like that.
    Would you explain how you arrived at the 1.3105 level?

  4. Hi Ramki
    I am so confused with my Gold trading now.
    Could you give us some analysis on Gold at your spare time.
    Your hard work would be highly appreciated

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