EUR.USD

[dumbass]

maybe an ascending triangle

5 waves labelled A B C D E

three wave internal counts

e may under or overshoot trendline

action currently tested 159 again and looks like its been rejected

should break to upside have buy in above resistance line but would ideally look for entry as

tests lower trendline ( wave E ) completion

[roddy]

Hi Db

yes i see ascending traingle,
this morning 4.30 am just happened to wake up that time went long up about 70 odd pip at present,looking like its only a matter of time 59 will be broken,even tho a few cracks are appearing in EURO,fundamentals

FWIW regarding GBP i think Scott Carney trades the D leg after its past the B point,BUT i havent got his book so dont know whether its coupled with some other set up criteria!

cheers
off to bed on auto pilot
roddy

[peat]

whereas I've been short as posted and holding against all the adversity. but stops were at 1.5910. :mad: taken and dropped. I sense a joker up in the sky.

[roddy]

Hi PEAT

i was stopped on long trade for an 80 pip loss but made up for it on short GBP,so about break even,however over the last week i have been carrying 80 pip wide stops and have been stopped out twice trying to go long the EURO,

cheers
roddy

[Steve]

If the EURUSD doesn't make a significant break upwards this time around, then the double-top becomes a triple-top.

If this becomes the reality, then it must surely be time for a significant drop? Maybe back below 1.5000?

[dumbass]

preferred count after much study

regular flat correction in progress with a minimum target of 15350 but more likely to head

towards sub 149

HOWEVER alternate count respects ascending triangle for final break out to 160 +

as allways time will tell , maybe worth getting on the saddle

[Craig3215]

Looks like a good spot to short here at 5775 coming back to test the previous uptrendline support

[Steve]

It had also tested 1.5660 and failed to break downwards thru that...

[peat]

I am starting to see the ascending triangle more now. so if thats the case a clean break of 1.59 would mean about 500 pips up to target 1.64

[arco]

Hi Peat

There seems to be an EW impulse on the lower time frames (30m/1hr) starting from the low at 1.5671 to the high at 1.5884. Now the current correction appears to be in 3 waves down to 38.2, but that may just be the 'A' leg not the whole move. (I can only count 3 waves on the B? so far). Should that be the correct wave count there may be a move down to circa 5760/5780 creating a Gartley?

Currently watching the 30 min to take advantage of a signal in either/both direction/s

Daily chart. Triple tops have a habit of failing and on a break the plot may form a mini BF (daily chart) with a max projection circa 6150-6250.

arco