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Monday, November 29, 2010

EUR/USD - Wave 3 of 3 down has already begun

The failure to take out 133.45 points to the fact, that wave 2 already ended at 133.45 and that wave 3 of 3 is now ongoing. this wave should fall towards 130.37, but as we are in the most dynamic part of wave 3, where the point of recognition really hit the market, and extension within the extension can't be ruled out, therefore a clear break below 130.37 could extend the decline towards 128.37.
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4 comments:

  1. InfinitusNovember 30, 2010 at 8:57 AM

    Hi EWS,

    best greetings from Frankfurt :-)

    Very good work as everytime.

    Please check the end of last wave 2. At Dukascopy and GCI I have this wave's high at 3288 and 3290

    Therefore I would count the movement from 3199 to 3302 not as 1, 2, I, but as a ABC flat correction.

    Curious to see a spike in this position on your chart. Where do you get your charts from?

    Best to you, have a nice and profitable chart,

    Markus

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  2. Elliott wave surferNovember 30, 2010 at 11:57 AM

    Hi Markus.

    I get my charts from Reuters, but the price could be a misprint i don't know.

    For now I will leave my count, but thank you for your imput. If needed I will change it. As you say it can only be a flat if the top is at 132.88 - 132.90.

    Thank you and all the best to you.

    EWS

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  3. InfinitusNovember 30, 2010 at 3:44 PM

    Hi EWS,
    curious, Reuters.......

    I checked now finanztreff.de, godmodetrader.de, fxcm.com, eToro.com, Dukascopy.com, GCI.com, forexpros.com and they have it all the same (like I described above).

    So far I ckecked Reuters and ftd.de, they have it your way.

    I do not know how to handle such a problem :-(

    Best to you,

    Markus

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  4. Elliott wave surferNovember 30, 2010 at 6:30 PM

    Hi Markus,

    Thank you for cheking.

    Hmm, Yes that's odd. I don't know how to deal with this problem either.

    The decline from my high at 133.45 has be a very nice looking five wave decline to 132.64, so for now I will stick you my count, but I have noted you levels, if I need to change the micro count later.

    Thank you my friend for looking into the problem.

    Best to you too

    EWS

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