Clear Recomendation For EUR/USD (Elliot Analysis)

[patricio_w]

The last chart i posted yesterday showed to possible scenarios, and i was preferd the bearish scenario, it seam s so far than was the correct one
We are on 3 of February, so we still have a lot of time of this correction, i said before than my time projecton is between 15 and 20 of February

1h Chart.
I leaves the draws i made yesterday justo to follow my idea. Wave 1 or A (its almost and A i think) should be complete at 3feb at 1.2109, why i think is an A?. Well notice than i puted Wave 2 or B in the 100% of the correction, and i said before than this kind of correction could correct 1.618 of the Wave A, that s mean what we call Wave B Flat. That preice is 1.1985, not so far

dayli Chart.
I leave my olds draws, and remember my bearish middle term scenario??, well is reaching almost the 0.500 correctio, is that it?? or shall we go for more?
Today is just for look, lets look

Kindest Regards

[shaji]

Hi pat

As I said earlier in this thread euro may testing 1.2000 level and today it did.

I am short @1.2044 and will close as and when trend change of course with trailing stop .

More comments later the reasons behind 1.2000 level

Busy now with trading

Good luck

thank you
shaji

[ronnimar]

patricio_w. i think there is a big confusion regarding this correction !?
the correction can not qualify as a zigzag pattern because in a correction like this WAVE B must be shorter than wave A by price distance. and on the other hand it surely dont have the characteristic of
flat correction !!?
what do u think about that ?

[patricio_w]

Originally Posted by ronnimar

patricio_w. i think there is a big confusion regarding this correction !?
the correction can not qualify as a zigzag pattern because in a correction like this WAVE B must be shorter than wave A by price distance. and on the other hand it surely dont have the characteristic of
flat correction !!?
what do u think about that ?

Not my friend, we should be in a correction of a greater correction. Iam finisshin my hour, daily and weekely chart, should be done by todays night.
There is no rule than says than wave B must be shorter, in Elliot Wave analysis everything is possible, we try to follow some rules than the market analysist done. When John Elliot made his studies we based all in 5 waves and 3 correction waves, other rules are trader rules.
In my opinion there are 3 kind of Waves B, as the sames of Wave 2.
You cuold have a Wave B than can not correct more than 0.382 of Wave A, an can still be a Wave B, then you have the Typicalo Wave B, that is the Wave than everyone spects, correcting 0.618, 0.786 (typical wave 2) and 100% correction retracements of Wave A
Then you have the flats Wave, on the Wave B flat can correct 1.618 and even 2.618, in some specific cases, as the same than Wave 2, also in Wave to you have the spanded flat, is that kind of Wave 2 than sometimes go furter than the top of Wave 1.

My opinion, (odnt take as a lesson), my opinion is than counter trend should be easy end simple, i always try not to force the Wave, an just be simple. Is there is no conunter trend visible, well, i wait until i see.

For example, sometimes you got 1.2.3.4.5, perfect, i mean perfect view of the rally, an the Wave 4 overslap a little into the range of Wave 1, well, for me is still a 1.2.3.4.5 waves, an less than future data tells me another thing.

I hope the answer helps you

Kindest Regards to you

[patricio_w]

1h Chart Analysis

With the lowest price( 3Feb )should be an W5:5, also a Wave A of this correction?
If iam on the right, then Typical, i mean Typical Wabe B price projection should be 1.2145/86
Any downside (to keep this anayliis) should be limited by 1.1968, to 1.1912 maximun acceptable price target for a Wave A
About Time Projection, this Wave B should be ending between 8Feb to 10 Feb.
Look at the reversal on the Oscilator, same view, we should be expecting a trend up next week, in my opinion following the Oscilator every position should be to the LONG, waiting fo trend reversal on Over Sold Zone
Important: suports should be the lowest price 1.1968, then 1.1953 and the last of this analysis 1.1912

1440 m Data
Like i was saying form the begining, we are in a correction, than should be ending at the end of March, could be more, 7 of April
It seams than Wave A is in place, is that is true this Wave B to the upside should last a few days with the oscilator in the OverSold Zone, and then Wave C should be ending between 21Feb and 10 of March, looking the ideal price target zone of the Wave 2 or B, 0.618 retracemnts.
Wave 3 or C should be ending the correction at the end of march between 1.2652 and 1.2891

10080m chart
Same chart as last week, looks where and when this correction should be ending

Conlcusion
In my opinion the next days the trend should be up looking for Wave B target, in the short -middle term the trend should be down looking for Wave c:wave 2 or b price and time targets, in the middle - long term the trend should be up, looking for the end of this correction, on the price and targets mencioned before

Have my kindest regards to all of you

mismo analisis en castellano ver richdad.com.ar

[shaji]

Hi patricio

I like the phrase that you used " in Elliot Wave analysis everything is possible" It is true everything is possible with Elliot wave that is the beauty of elliot wave to do an analysis to get a possible direction of the market.

I have 10 different analysis in eurusd from cycles,primary,intermediate,minor at different time frames.Which one I will follow, big question? So what I do is do my own analysis with critical price levels,economic factors and market psycology incorporate with elliot wave to get a good direction of the market.

After all my studies and analysis which is only a beginning what I believe Fibonacci is the master and still is and his contribution to mathematics . All others followed it.

Keep up your good work and I appreciate your contribution to this forum.

Thank you
Shaji

[Bici]

Originally Posted by shaji

After all my studies and analysis which is only a beginning what I believe Fibonacci is the master and still is and his contribution to mathematics . All others followed it.

Excellent quote Shaji ... I am just learning Fibonacci and just now admire his work .. I wish I had visited his statue when I was in PISA

[patricio_w]

See the chart bellow, it seams a double bottom aspect. Aproaching to the zone at 1.1968 is a possible correction of 100% of the posssible Wave A, coul be a nice wAVE b, with a double bottom form.
Also look at the oscilator is in the Over Sold Zone traing to perform a crossover, not yet in place, but possible trend reversal signal
Is that the case Wave C has to possible targets with the red squares

Kindest Regards

Mismo analisis en castellano en richdad.com.ar