Clear Recomendation For EUR/USD (Elliot Analysis)

[patricio_w]

Already broke 1.1994, signaling than w5:5 of 1 should be in place and near completition if it is not already complete.
If this is the case, as we have been projected, 1.1890 should follow, the trend reversal we anunced for short term trades to the Short Side was made in 1.2050. 1.1882 is the 0.786 fibo retracement of W1 also
This correction of the rally up should be finishing by the end of this week, so, be alert again now on the trend reversal to the LONG side.
If the analysis is correct, W3 sshould be strong for a rally up for several days
Kindest Regards

[wotzit]

Patricio

Thought I would poast my thoughts on the euro direction here too as I visit your thread. Observe the excellent graphics software from my charts!

[ronnimar]

wotzit.
very interesting presentation (the left one) but my personal
bias is the right one. it go's well with patricio_w analysis
and it with my monthly EW analysis.

[patricio_w]

Still hold my analysis i been posting for the last two months. I personally enter on a LONG trade, just on the next candle after the cross over lines on the DTOSC. Always i try to enter on trades of about 20 pips sotp loss, i put my stop one pip above the last low. So in conclusion iam waiting to catch the trend reversal for the next rally W3 up, Long at 1.1886, stop at 1.1866
See the chart below, kindest rtegards

[wotzit]

Ronnimar

My first count would also fit in with your wave 4 as a double zigzag, and as the wave 2 was a simple correction, under the rules of alternation the wave 4 will be a complex correction which a double zigzag is classed as. Interesting stuff this Elliott.

[patricio_w]

Originally Posted by patricio_w

Still hold my analysis i been posting for the last two months. I personally enter on a LONG trade, just on the next candle after the cross over lines on the DTOSC. Always i try to enter on trades of about 20 pips sotp loss, i put my stop one pip above the last low. So in conclusion iam waiting to catch the trend reversal for the next rally W3 up, Long at 1.1886, stop at 1.1866
See the chart below, kindest rtegards

If any of you is following this trade, i ll keep it as i enter. The Dtosc is now on the Over Bought zone, making a cross over lines.

Option 1: a new low could be at 1.1896, so the stop could be now that, if enter was 1.1886, in case the market will tocuh the stop the result is +10

Option 2 : move stop to breakeven

Option 3: keep the stop in 1.1866 an hold

Kindest Regards

[patricio_w]

i think than Wave 2 is not already complete, this rally down is more impulsive than corrective, so i marked this as Wave A:2.
Also time projection is too soon to say than correction is complete, so tomorrow we need to see the Wave B:2 ending, at price projection shown on the chart, about 1.1980 and 1.2006
For those who are following the trade, i personally moved my stop to 1.1896, i think that is a new low, and of course are +10 pips exit.
Tomorrow i will look for at least 1.1970 target, and then exit on that point, looking for trend reversal on Over Bought Zone and then go SHORT.
If the analysis is correct there is a good chance to do both ways
Kindest Regards

[etype62]

hi patricio, well, 4cast news kind of supports your read saying top resistance is low 70's although they don't see it being reached. Building shorts here and would love to see 70 (breifly)

Good luck