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My preferred count is, that wave E of the major B-wave triangle ended at 1.3832 and that a new impulsive decline has begun. From 1.3832 we have seen wave 1 down to 1.3295 and wave 2 has likely just ended at 1.3795.
This count will stay my preferred count as long as resistance at 1.3832 stays unbroken. A break above 1.3832 will invalidate this count and tell us, that wave E isn't over yet and that more corrective upside pressure is needed.
Looking at the hourly chart, we can see that the rally of the 1.3295 low is corrective, but a break below 1.3619 is need to confirm, that wave 2 is done and wave 3 lower towards at least 1.2924 is in motion.
There a multiple ways to count wave 2, for the sake of visibility I have just showed the overall count. Looking at the relationsship between wave a and c we will see that wave c = 1.382 * a at 1.3792 and the high have been 1.3795.
Hi EWS on weekly chart from 1.4939 high to 1.2041 low 5 wave structure and approching 61.8 fib at your 1.3832 level i think the same lets have a good ride down great charts as always
ReplyDeleteBest Regards jt
Hi JT,
ReplyDeleteThank you very much.
Yes lets have a good ride lower.
Kind regards
EWS
Hello,
ReplyDeleteCould you show, how do you count wave "c" from 1,3398 to 1,3793?
Best Regards
M.
Hi Mariukstis,
DeleteTake a look at the 15 minute chart I have just added to the EUR/USD analysis.
There is more ways to count wave c, but this is my preferred short term count.
Kind regards
EWS
Hey,
DeleteThanks for graph. But in my opinion we need one more up to finish "c". How can I sent my variant to you? :)
M.