Thursday, February 25, 2010

Breakout levels

If the previous count is to hold up, we should break out to the upside. If wave 4 isn't finished, it will take the form of a triangle and wave 5 will go to lower levels. Wave structures are not very clear, both wave 5 and wave i are hard to count ( 3 or 5 waves? ). So at this point it would be best to use a breakout strategy.

Tuesday, February 23, 2010

Eur/Usd 1 Hour

It is possible to count 5 waves down from the top. I labelled wave 5 as finished but it's possible that it has just started where wave i of 5 and ii of 5 have just finished. Note how MacD shows divergence as it reaches a wave 5 on every degree.

A new start

It's been a while since I posted on my blog. Last time I posted I was looking for a wave B top. It came a lot later and higher than I expected but it came nonetheless. I will now focus on finding a count from the top.