My micro count is still on track. We are now in the final stages of red wave iii, which as a maximum can reach 143.00. At 143.00 red wave (v) of red wave iii will be longer than red wave (iii) and leave red wave (iii) as the smallest wave, which is not allowed. Sorry for the complex count, but we are in the sub-micro count here. Whatever happen it will give us a good indication of what to expect next. When red wave iii is over we should get a small sideways red wave iv setting up the final red wave v ending the entire rally from 128.71. A minor warning: If my count is correct, and it has been pretty accurate lately, then we are in the absoulte final stages of the rally since 128.71, so it's not the time to over-trade the long side.
Wednesday, April 6, 2011
EUR/USD - Red wave iii is in its final stages
My micro count is still on track. We are now in the final stages of red wave iii, which as a maximum can reach 143.00. At 143.00 red wave (v) of red wave iii will be longer than red wave (iii) and leave red wave (iii) as the smallest wave, which is not allowed. Sorry for the complex count, but we are in the sub-micro count here. Whatever happen it will give us a good indication of what to expect next. When red wave iii is over we should get a small sideways red wave iv setting up the final red wave v ending the entire rally from 128.71. A minor warning: If my count is correct, and it has been pretty accurate lately, then we are in the absoulte final stages of the rally since 128.71, so it's not the time to over-trade the long side.
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Hi Surfer,we exceeded 143.00 intraday, with the wave size violation you stated,are you going to go by today or this weeks close? Whats the alternative if we go past the mid 143 handle, thanks. Good counts by the way
ReplyDeleteHi Seaducer67,
ReplyDeletePlease see my latest post
http://2.bp.blogspot.com/-ezs1abAlbi8/TZzEwWX-9hI/AAAAAAAACNI/Cf9PdhlOl8A/s1600/image002.gif
Regarding the wave size, a break above 143 no matter what time-frame would abort my count. It wouldn't change the overall view. just that my micro-count needed fine-tuning.
Dealing with micro-counts you need to be flexible, but you also need to know, when your count no longer is correct.
Regards
EWS
Thanks EWS, I've looked and followed several Elliott Wave blogs over the past few months(not just recently), you definitely were much more bullish than the others including myself who saw the turn in Eur/$ a few weeks ago. At this point you seem to be the one whose got this count locked and dialled in. Great effort,work and perspective EWS
ReplyDeleteThanks Seaducer67
ReplyDeleteMuch appreciated ;o)