The above chart shows the expected series of wave 3 and 4's. Look for wave (iv) to end close to 134.12, before the next decline lower in wave (v) ending wave iii.Original post below:
After the fast decline yesterday and the break below 134.58, which froced me to re-adopt the Expanded Flat correction count as wave 2. The first part of wave 3 down has progressed nicely. We should now be looking for a serie of waves 3-4's before ending the first part of wave 3 down.
Wave i of 3 should ideally end near the 132.72, but thrid waves is normally strong and powerful and extensions within extensions is not unlikly.
The chart below is the USD Index, showing a clear break of the downtrend since 88.70, confirming the new uptrend.
After the fast decline yesterday and the break below 134.58, which froced me to re-adopt the Expanded Flat correction count as wave 2. The first part of wave 3 down has progressed nicely. We should now be looking for a serie of waves 3-4's before ending the first part of wave 3 down.Wave i of 3 should ideally end near the 132.72, but thrid waves is normally strong and powerful and extensions within extensions is not unlikly.
The chart below is the USD Index, showing a clear break of the downtrend since 88.70, confirming the new uptrend.
Hello EWS,
ReplyDeletethanks for your constantly very good work.
Please let us discuss the 1-2, 1-2, 1-2 section.
I saw, that you labled it that way, whereas I had only 1-2, 1-2.
So I recounted it again. The result was, that we might have made an error both :-(
I had placed my first one too deep at 3544 (somehow I had the impression of an extended 5 in the first wave down - but that was clearly an error). So now I have my first one at 3578.
Your second 1 has o hourly chart 7 waves and on 15min 17 waves. That is corrective.
Therefore I think we have after the first 1 at 3578 a flat correction, where the corresponding wave 2 is to be placed at 3606.
Would you mind to take a second look and share your thoughts?
Best to you my friend,
Markus
Hi Markus,
ReplyDeleteThank you!
You might very well be right. I'm very much in doubt about the third 1-2 as wave 2 of my third 1-2, retraced almost all of the firste wave. That is allowed by the EWT, I choose to keep the count as long as possible.
The series of waves 3-4 will soon prove me wrong if there is only two 1-2's.
The very best to you too my friend and keep up your exellente work.
EWS