Here is an update of my favoured EUR/USD count. The wave 4 triangle count was seconds ago invalidated on a push just below the 1.3268 level. I believe an Ending Diagonal is forming and expect price to push slightly lower before retracing in a wave 4 back to around the 1.3450 area. Ending Diagonals usually form when price moves too fast too quickly, which fits well here as the drop from the top at the end of 2009 has been immense. I am not looking to trade the EUR/USD under the current circumstances as I believe the choppy price action does not offer a worthwhile risk/reward ratio.
ED in first wave? In last way - ok, but in first - no :))
ReplyDeleteHi Andrzej,
ReplyDeleteYou've misinterpreted the count. The ED is forming a 5th wave, not a 1st wave.
Hello Jared:
ReplyDeleteI have a question about the plattform from IG Markets.
It gives the possibility of look many timeframes at once or only one in each time?
Thank you.
Hi Gustavo,
ReplyDeleteYou can only view one timeframe per chart, however if you load up several charts of the same market, you can view them on different time frames simultaneously.
Cheers,
This looks like a good count, well done. I was expecting the 5th to be truncated (as the 1 of your 5th), but the downgrades last night seem to confirm your count.
ReplyDeleteHi Anonymous,
ReplyDeleteI never liked that possibility as that first wave clearly looks like a 3 not a 5 wave move.