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Thursday, December 31, 2009
EUR/USD - Black circle wave 2 is ongoing
Yesterday I was very much in doubt if black circle wave 2 had ended or not, but in my view wave c was just to small and didn't fit any propper scenario, that's why I stuck with my option 1 calling for a more prolonged correction.
I still think wave b became more complex than I would have anticipated, but that's just how b waves are - unpredictiable.
I have two possible outcomes for wave c:
1) Wave will be 1.618 time wave a ending near 146. If this is the correct c-wave call, then the pink diagonal will not be broken before in the very end of this upmove. If however the pink diagonal is broken, then option 2 takes over
2) Wave c will be equal in length to wave a, but take more time. In both cases don't be surprised to see the upper line of the rectangles be broken, It will not last for long.
Again I like option 1 the best, but will stay fexible to whatever the market is telling me.
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