The above micro count is valid as long as support at 141.47 isn't pierced. A break above 141.80 would signal that the final red wave (v) towards the 142.33 - 142.66 area has begun and setting the stage for the final wave (v) above 142.81, ending the entire rally from 128.71. A break below 141.47 would cause an overlap between red wave (i) and red wave (iv) which would eliminate the micro count above. A break below 141.47 would most likely signale that wave (iii) of v ended at 142.33 and wave (iv) of v would decline further towards 141.18, but under no circimstances can we allow a break below 141.15 as that would produce an overlap between wave (i) and wave (iv) of v. That would also give the rally from 140.05 a clear three wave look and revive the triangle wave (iv) count.
Friday, April 1, 2011
EUR/USD - We migth still be in wave (iii) of v up
The above micro count is valid as long as support at 141.47 isn't pierced. A break above 141.80 would signal that the final red wave (v) towards the 142.33 - 142.66 area has begun and setting the stage for the final wave (v) above 142.81, ending the entire rally from 128.71. A break below 141.47 would cause an overlap between red wave (i) and red wave (iv) which would eliminate the micro count above. A break below 141.47 would most likely signale that wave (iii) of v ended at 142.33 and wave (iv) of v would decline further towards 141.18, but under no circimstances can we allow a break below 141.15 as that would produce an overlap between wave (i) and wave (iv) of v. That would also give the rally from 140.05 a clear three wave look and revive the triangle wave (iv) count.
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Thanks for all of your help!!!! What is your thoughts on our current position being at the end of wave 1 or possibly the start of wave 2 in wave 5 of an ending diagonal?
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