a contracting triangle in wave (4) with a-b-c within the
triangle complete and (d) close to completion. As long as
prices stay above 1.3283 prices will retrace back up to
complete wave (e) of the triangle, thereby finishing the larger
wave (4) triangle, after which the EUR's decline should
accelerate to the downside. For the contracting triangle to not
be the case here, prices should either push below 1.3283 from
here or push above 1.3818, the latter being a case where wave
(4) may turn out to be a complex correction. The important
thing is the EUR's decline is not complete, but its all about the timing.
3 comments:
alright guys. let's get the story straight. You have the euro (ie., inverse dollar) going down further, which means strengthening in the USD. On April 17, you post an Oil chart that show a subwave 2 occurring in the interim and a rise to $97 or so.
So Oil is going up on a stronger dollar? doesn't seem logical. Maybe you need to rethink this.
this count is busted as eur just took out b
haha, thats how it looks mate! however, if u look at the 240 min chart, there was an extremely short wave (e) that completed wave (4). And the decline since then surely looks like a thrust out of a triangle, which all EW analysts would agree with. Not all of us can be Prechter, i certainly can't.
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