Clear Recomendation For EUR/USD (Elliot Analysis)

[XTK]

Hi Patricio


Just for clarity, what does 1440 stand for in your daily chart above ?

Cheers........

[patricio_w]

Originally Posted by XTK

Hi Patricio


Just for clarity, what does 1440 stand for in your daily chart above ?

Cheers........

It was only an update of my last chart of last week, heres all the analysis, with updated 1440m and 60m data charts

1h Chart.
If Dec2 low till 25jan high is a W1 or a WA, then we could see eventually a declain till 1.1991 and 1.1913, thats the typical retracements for a W2 or WB, not shown in the chart becasuse i can put them all together. This downside should last until 15 to 17 of february, but in the short-term should be limited by the 1.2072
If you want a recomendation about this chart i suggest to go long followint ht e oscilator, in the short term the 1.2072 is a nice stop loss, but the view is bearish in the middle term

1440 m.
Here is the new chart. Time limit for the end of this W2 or B is 20th of feb, should be limited by the 0.618 fibo ratio that is 1.1901
In the short time, my count is bullish, limited by 1.2072 Wave A of W2 or B ??, if that is correct we shall see a rally looking for wb of the ABC of W2 or B

10080 m data.
On the weekly chart iam posting a 1.2.3.4.5 wave count on the downside y pretty clear, and this is a correction than should be limited at 0.618 fibo ratio 1.2891 in price, about time, this correction shoul not excedd ending of April, 20 of april to be accourated.

This is all for now, to resume this, in the very short term my count is bullish, in the short middle my count is side ways, rather bearish, lookinf for more correction of this possible W2 or b, on the middle - long term trade my count is bullish

My kindest regards to all of you

[XTK]

Patricio

Everything's clear now

PS I really like your charts.....

[shaji]

Hi

First there could be moves after FOMC rate decision and I think we may have a big move on friday feb 3 (3-2-2006) which will confirm the direction of euro for the time being.

Watch out this week Big Moves!!!

[patricio_w]

Originally Posted by shaji

Hi

First there could be moves after FOMC rate decision and I think we may have a big move on friday feb 3 (3-2-2006) which will confirm the direction of euro for the time being.

Watch out this week Big Moves!!!

The hole calendar of this week for you all, on the first column you have the date it will come, ET (eastern time),release is the specific data, Hope is the number the market spects, Before, is the prior data on the last call
Kindest Regards to all

Please, if you think this is an important information, i can posted all Sunday night

Para misma informacion en castellano ver richdad.com.ar

Date	ET	Release	Hope	Before
Jan 30	08:30	Personal Income	0.4%	0.3%
Jan 30	08:30	Personal Spending	0.8%	0.3%
Jan 31	08:30	Employment Cost Index	0.9%	0.8%
Jan 31	10:00	Chicago PMI	59.5	61.5
Jan 31	10:00	Consumer Confidence	104.8	103.6
Jan 31	14:15	FOMC policy statement	.	.
Feb 01	00:00	Auto Sales	5.3M	5.3M
Feb 01	00:00	Truck Sales	7.8M	8.2M
Feb 01	10:00	Construction Spending	0.1%	0.2%
Feb 01	10:00	ISM Index	55.0	55.6
Feb 01	10:30	Crude Inventories	NA	-2309K
Feb 02	08:30	Initial Claims	NA	283K
Feb 02	08:30	Productivity-Prel	1.8%	4.7%
Feb 03	08:30	Average Workweek	33.8	33.7
Feb 03	08:30	Hourly Earnings	0.3%	0.3%
Feb 03	08:30	Nonfarm Payrolls	245K	108K
Feb 03	08:30	Unemployment Rate	4.9%	4.9%
Feb 03	09:50	Mich Sentiment-Rev.	NA	91.5
Feb 03	10:00	Factory Orders	1.1%	2.5%
Feb 03	10:00	ISM Services	59.1	61.0

[patricio_w]

Lets proceed with the wave count of this corrective rally of the 25Jan High.
This Wave A should be finished at 1.2063 low, if is not complete is near completition, we can see the typical subidivision of that Wave A into 5 minor waves.
Then if Wave A is in place, then we should see a rally up for a Wave B, the problem is price and time. Wave B are difficult to determine, we probably will see subdivision ABC of that Wave B, but all i can say is that the Wave A was strong, quikly, and it penetrated the 0.786, of Wave 1 or A, so it seams than the corrective rally is strong. Is that the case, Wave B should not correct the 100% of the Wave A, so 0.618 of Wave A will probably enough for it

I draw a possible scenario for the next 15 days, ending at middle of february with the complete correction of the WAVE 1 or A.

That corrective rally, as i said on prior comments, should be ending between 1.1990 and 1.1901, maximun correction for a Wave 2 or B

Lets see how s going on

[shaji]

Hi

It would be nice if you could post some trade signals for euro
with entry stoploss and take profit level.

thank you
shaji

[patricio_w]

Originally Posted by shaji

Hi

It would be nice if you could post some trade signals for euro
with entry stoploss and take profit level.

thank you
shaji

My Dear Shajai
It is not my style, i dont believe in signals, for me that word it doesnt exist into Forex vocabulary. But take the time to read the analysis, and then take a look at your own one, iam sure there is a "signal" there.

Take a look at the present example, yesterday i draw a chart, with an excelent opportunity to entry, i said in very short time 1.2072 was an excelent stop loss, i said it 4 times, and also said in very short time the tren was bullish, also i suggested a trend line into the chart for the next 20 days, also i chart my middle and long term view.
My interpretation is than this powerfoul information is more than a signal, is a hole profesional analysis based on accurated projections.

What i do not do is "signaling" that is like "trade for others". The ultimate desition is yours, i can do the "logistic" you have to do the other.

Of course this is my believe, only my point of view, and also know than others can work in many diferents ways, with excelents and poor results too

About Euro?, well my friends, it seams than we are on the correct view so far, the lines i draw yerterday are correct by now, lets wait an see where this minor wave a ends, if it is a minor wave a of course.

Iam posting a chart with the update of the market, it is the same chart of yesterday night with the bars over the draw i did

Have my kindest regards

Para mismo analisis en castellano ver richdad.com.ar