Is EUR done now?
Updated
Hi All,
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!
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!
Note
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!
Note
Triangle complete - Long for 5th wave and EU will fall like a tonne of bricks! Note
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.Note
Count looks complete - I am now expecting a massive fall for this pair! Let's see!
Note
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! GL
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