Wednesday, May 4, 2011

Top by the end of the week?

The expanded triangle count seems like it was correct. We even got a 3 wave move up after the triangle ended. This 3 wave move was probably wave A of the last rally to the top. Looking at where we are in the pattern, i think that the top could come as early as tommorow or the day after that.

Geplaatst door op
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3 comments:

  1. AnonymousMay 4, 2011 at 6:35 PM

    Hi Jeremy!

    I kindly ask you to help me understand the structure and count of the triple three's. I mean the structure of the last major move up from 1.28
    The lay-out is a W-X-Y (in red). The first leg up from 1.28 is named W (red) is made of a W-X-Y move counted in orange. The first orange W leg up is made of an A-B-C in which A and C shall be 5 wave moves while B is corrective in 3 waves.
    Am I correct in reading your count and understanding the structure of this larger move up?
    If yes, I remain a bit unclear on the counting in the sense that I thought that a W-X-Y count can only be built on an A-B-C structure without another intermediate W-X-Y (like the orange counting in our case).
    Can you please help me get that?

    Thanks and best regards,

    Catalin

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  2. Jeremy DemunterMay 4, 2011 at 10:55 PM

    Hey Catalin,

    I think you got the degrees wrong, maybe i should use more colors to determine the different degrees? Check out the chart on the daily count posted on april 30th.
    As for the triple threes your talking about, it are actually complex double threes. Just like an ABC flat but instead of having a 5 wave wave C at the end, you get another 3 waved leg at the end. And instead of calling this a wave C, the correct labelling is Y. Flat, 3-3-5 = ABC. Zigzag, 5-3-5 = ABC, Complex Double Three, 3-3-3 = WXY. Then there's also a complex triple three, 3-3-3-3-3 = WXYXZ.
    In recent eurusd wave counting i'm using a lot of complex double threes inside complex double threes, i know it's confusing... But every 3 wave move, like a wave Y in a WXY can also be a WXY on itself. It has to fit on all degrees. Just like in a 1-2-3-4-5 impulsive wave, every wave 1-3-5 has to be an impulsive wave on itself.

    Hope that clears things up a little for you, if you have more questions just let me know.

    Jeremy

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  3. AnonymousMay 5, 2011 at 4:23 PM

    Jeremy,

    Thank you for your detail answer.
    I've messed up counting because of an incorrect understanding of the complex double three's. I was even mentioning a triple three's which is not (yet) the case in our given situation for EURUSD.
    Your explanation helps me get a clearer picture over the counting. Going back to the book will help, too.
    You do not need to use more colors, but I need to play around a bot with the structure of these complex three based built waves.

    Thanks and best regards,

    Catalin

    ReplyDelete

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