Clear Recomendation For EUR/USD (Elliot Analysis)

[patricio_w]

It has happened again. EC has breaken the 2 point we draw yesterday, and should be finishing this trend up into Wave 5, if its not already finished.

But if you take a deep look into the 1440 minute data, i placed serveral days ago to pairs of posible targets in pink, the first one is the possiblity range for this trend up to be finishing, and also if you take a look at the Oscilator you will notice than is on OS Zone, signaling than this multi day to the upside is finishing.

At this momnet EC 1.2301, with possiblities to make a trend reversal on 1.2332/64 range. If that the case, then Traders should be orientated to the short side for several days, a correction to this rally up is inevitable.

In 60 m data i keep the markes i draw yesterday just to see, and in differents colours we can see the possible targest of this correction

Short-Term trade: SHort side, waiting for the oscilator on OS Zone, 60m data is not in place right now

Middle-Long Term Trade: Long Side, with reserves (1.1825 were and excelent entry point as i marked in Feb, now the price and time targets are tight for thinking in a Long term trade to the Long side)

REgards

[patricio_w]

Originally Posted by patricio_w

It has happened again. EC has breaken the 2 point we draw yesterday, and should be finishing this trend up into Wave 5, if its not already finished.

But if you take a deep look into the 1440 minute data, i placed serveral days ago to pairs of posible targets in pink, the first one is the possiblity range for this trend up to be finishing, and also if you take a look at the Oscilator you will notice than is on OS Zone, signaling than this multi day to the upside is finishing.

At this momnet EC 1.2301, with possiblities to make a trend reversal on 1.2332/64 range. If that the case, then Traders should be orientated to the short side for several days, a correction to this rally up is inevitable.

In 60 m data i keep the markes i draw yesterday just to see, and in differents colours we can see the possible targest of this correction

Short-Term trade: SHort side, waiting for the oscilator on OS Zone, 60m data is not in place right now

Middle-Long Term Trade: Long Side, with reserves (1.1825 were and excelent entry point as i marked in Feb, now the price and time targets are tight for thinking in a Long term trade to the Long side)

REgards

Wave 5 should be in place at 1.2331 (1.2332/64 zone i posted yerterday) one pip behind my bands.
If this is the case, and Wave 5 has already finished, then we must expect the correction i said yerterday
60m data chart made the trens reversal in the OB Zone, and 1440 minute data it s near to happen the same. Short side trades are good to set
My kindest regards

[patricio_w]

Originally Posted by patricio_w

Wave 5 should be in place at 1.2331 (1.2332/64 zone i posted yerterday) one pip behind my bands.
If this is the case, and Wave 5 has already finished, then we must expect the correction i said yerterday
60m data chart made the trens reversal in the OB Zone, and 1440 minute data it s near to happen the same. Short side trades are good to set
My kindest regards

It seams it was the high, for those who take that trend reversal on 1.2331 now are severals pips ahead.
Time and price projections are in the picture, i keep the 1.2127 to 1.2085 range for price (0.500 and 0.618 fibo retracements) and between 7 and 10th of april for time projection
Those who Sold on 1.2331 i suggest to take profits now, and wait for the next trend reversal on Over Bought Zone, of course the trend is still to the down-side, need to test at least the 0.500 fibo retracement
Regards to all of you

[patricio_w]

Originally Posted by BenBernanke

it has just broken 1.22 levels clearly...... doesn't it mean some more downside action will resume now?? why take profit if i may be right?

Dear Ben
I ve answered the same to firefly early on this treath, take a look. Of course you can hold your position, but in my opinion (it s only my way to see trading) the difference is nice, and the moment could be good to take more than +140 pips. Why?, if you take a look at oscilators, are reaching Over Sold Zone, taht means (of course i could be wrong) than so far the downside at very short term is going to be limited, or the market can get up a little, or also could enter in side ways. So take profits now and wait for the next trend reversal on Over Bought Zone to short again is my strategy. Again, this is only a suggestion, or an idea, trading is very personal, you can feel different than me.
REgards

[patricio_w]

Originally Posted by BenBernanke

it's only early Asia can we expect high vol. very often ?

I dont know what to response to that, iam not handeling that kind of information, my analysis is based on Elliott Wave and Fibo numbers
REgards

[firefly]

To whom it may concern.

I appreciate the removal of those offensive posts.

Firefly

[patricio_w]

There is to different posiblities on my view now. The first vision sqays to me than the WC of the Corrective rally has finished on 1.2331m making a perfect ABC correction where Wc finished just a few pips over the WA. If that the case, then correction to the down side should be continuing without taking out WB low.

Other vision says than 1.2331 was a W1:3 of 3, if that the case then 1.2090 should be the completition or ner completition of W2:3 of 3, then the typical targets for this W2:3 of 3 could be also 1.2078, 1.2018 and even 1.1933

In my opinion i think than more downside is expected by the market, i rather stay aside in this cases, but if a have to make a recomendation i should be trading to the Short Side following the oscilator for at least the next week or so

See on my 60 m chart that i keep the draws i made on thrusday, the markets was following that draws, but iam not sure about the upside yet.

On 1440m data i draw the numbers over my chart published on January, showin the 2 possiblities right now, one is an ABC correction with a square in red, the other vision is 1,2,3,4,5 waves. On the middle-long term both visions are bullish of course, but in the short to middle term is not so clear

Please tell me if iam not clear with the explanations, regards

[patricio_w]

It seams than 1.2074 is the end of a possible wave 5, justo a few pips above the 0.618 fibo, but it still not so clear for me. What it is possible is than a multi day to the low is finishing, if it is not already finished by now.

My recomendation is to wait until the trend shows itself clearer than this