This page shows you the Elliott Wave analysis of EURUSD using the Daily chart. Please click on the chart to enlarge it.
Elliott Wave Chart of EURUSD 13 August 2012 Daily
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Dear Sir,
What do you think about that there at the beginning of the 3rd there is another 1-2 (smaller degree)? It means that the 5th wave is only the end of a higher degree 3rd wave. We are now in the 4th of that higher degree, which can end at the somewhere in the territory of the smaller degree 4th wave (4 on your chart.) And after that will start the 5th, which can make a new low. What do you think about that counting?
Really appreciate your work and sharing your thoughts.
Best regards,
Geza
Hi Geeza, I am not sure I nderstood your question. My approach to EWP and trading is to acknowledge that many different counts are possible at any time, but we should stick to our own count till proved wrong..so if your count is different, don’t worry. Stay with it. Just be sure you are following all the rules of EWP
Sir Ramki
Sorry to say, but I think you are missing a 1-2,(1)-(2) count before the start of the third wave!
Therfore I think we need one more 5th wave down to 1.20-1.19, before a 38.2% retracement back to 1.2596.
Anyway, keep up the good work.
Hi Co, thank you for writing. I have been wrong before and maybe this too will b wrong? Good luck to your trading.
Sir Ramki,
Think you nailed it again! Have been watching the EURUSD chart right now, and from the low i think it is a A (triangle B) C up to 1.26. Think it will roll over very soon! Got back in to my USD position a bit too early, but it dosnt matter, I am bullish the USD long term.
I too thought that one more 5th maybe possible. Have attached a chart. But what you are saying is that the recent decline is an x wave and not an impulse on your intraday chart.
Rohit, stick with our counts till proved wrong. Anything is possible. What you learn here is how to del with uncertainty
What can we say. Once again you are spot on (5 Pip accuracy in EUR/USD).
Now can it be possible to say the Rage Wave C has comenced in S&P 500 as you can see it has come down to 1400 which is below 1403 (Wave 4 0f extended fifth wave)?