MoneyEngineer

EUR/USD flat correction

FX:EURUSD   歐元 / 美元
Technicals:
*The impulse wave is counted from the support channel line because on a larger degree that is where the previous correction ended.
*The impulse was validated by alternation between waves 2&4. Wave 2 being a zigzag correction and wave 4 being a flat correction .
*The flat correction is validated by this retracement breaking the 0.786% level.

What to expect?
*We will push down to the previous low and have a reactionary impulse to the upside that will make a lower high. Which will be the start of a beautiful downtrend. Good luck guys.
Interesting count. However, your wave 1 looks like a 3 wave move and not an impulse if you were technically counting this as EW.
回覆
@donaldsaw, Its possible 1 could have started where wave 2 is. Just seemed like a better count considering the previous correction.
回覆
donaldsaw MoneyEngineer
@MoneyEngineer, From an EW perspective, that looks more like a ZZ. Just adding my 5cent's worth :)
回覆
@donaldsaw, I will go ahead and try to analyze it that way and see what i come up with haha. Thanks for the input.
回覆
donaldsaw MoneyEngineer
回覆