Clear Recomendation For EUR/USD (Elliot Analysis)

[Xaff]

Hi Trendliner,

I certainly do expect a nice waves up in order to retrace the recent decline from
1.2975 to 1.2530. Personally I expect a movement going north to approx. 1.2750, the 50% retracement of mentioned decline.

BUT !!!: (because you're learning) Watch resistance levels closely and also those confirmation levels and take your trading decisions carefully. Never trade on anybody's recommendation, always form your own oppinion.

cya

[Xaff]

Useless to say that the resistance area we are at right now is of high importance regarding future movements. A move below can have a considerable impact on price. Today we have building permits and housing starts at 8:30 EST or 14:30 CET.

[Trendliner]

Originally Posted by Xaff

Hi Trendliner,

I certainly do expect a nice waves up in order to retrace the recent decline from
1.2975 to 1.2530. Personally I expect a movement going north to approx. 1.2750, the 50% retracement of mentioned decline.

BUT !!!: (because you're learning) Watch resistance levels closely and also those confirmation levels and take your trading decisions carefully. Never trade on anybody's recommendation, always form your own oppinion.

cya

Thanks for your reply Xaff - I will watch carefully and also with great interest.

[Xaff]

You are very welcome my friend

[Xaff]

Hi!

I know, I know, this doesn't have anything to do with EW analysis and even less with DT EW analysis but maybe not everybody has seen this daily morning star which formed in european sessions. We also have a daily stoch divergence. So, be careful with shorts out there . For EW analysis, please refer to my previous posts with charts attached.

Have a safe day!

[Xaff]

Hi all!

After my last post - at the wrong thread I must admit - (viewable anyway at http://www.moneytec.com/forums/199322-post4256.html ) eur/usd pair evolved nicely and as expected. Now I wanted to underline a trading opportunity that may present itself soon for the final push down before new highs should be made.
I will update once target has been reached and momentum reversed or should something unexpected happen. Feel free to ask, should something not be clear.

Have a profitable week!

[Xaff]

Well...

what is there to say about that strong movement yesterday?
A part from a nice profit, the move was more impulsive than I expected and a new low was made.
These factors lowered confidence and warrant CAUTION because waveC might just be complete already. My long positions are now closed/reversed but with only small short positions open targeting still new lows. I will add to those small positions if confidence returns. An upside risk definitely exists as I expect new highs. Stoplosses to shorts should not be higher than 1.2735.

Cya.

[MidnightRun]

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