Thursday, August 18, 2011

Eur/Usd : Wave Y

There was another leg up, but price remained below the 1.4535 wave C high, which keeps the triangle count in play. Look for price to break the 1.4323 low for confirmation.


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6 comments:

  1. AnonymousAugust 18, 2011 at 5:17 PM

    Hi Jeremy!

    It seems that the price action tries to confirm the triangle scenario.
    Still, I wonder how come that the triangle scenario is not also visible on the USDX chart?!

    Do you also follow the dollar index, at least for checking if the price patterns do align or not with the EURUSD?

    I count on your feed-back.

    Best regards,


    Catalin

    ReplyDelete
  2. Jeremy DemunterAugust 18, 2011 at 9:00 PM

    Hi Catalin,

    No i don't check the USDX charts. The eur/usd counts are based on what i see on the eur/usd charts only. The reason why is because i don't believe in correlations, it's not 100% certain. It could correlate for a long time and then go opposite direction for a while. I'm not saying that it doesn't pay to watch both closely. Eventually they might always go in the same (or in this case opposite) direction, just have different ways of getting there. So when analysing with EW and you try to catch the waves as accurately as possible, i think it's best to analyze every market on its own.

    Friendly greetings,
    Jeremy

    ReplyDelete
  3. AnonymousAugust 18, 2011 at 11:10 PM

    Point taken, Jeremy!

    Thanks for your comprehensive answer.

    With best regards,



    Catalin

    ReplyDelete
  4. AnonymousAugust 19, 2011 at 11:08 AM

    Hi Jeremy,

    Maybe a week or two ago you posted an alternate scenario with a target of 1.49ish- was this count ever violated?

    Regards ,

    Jeff

    ReplyDelete
  5. Jeremy DemunterAugust 19, 2011 at 11:27 AM

    Hi Jeff,

    The August 15th post has the 2 main counts, both are still in play. If you go back to the July 1st post, you'll see the alternate count where price could go to a new high.

    Friendly greetings,
    Jeremy

    ReplyDelete
  6. Forex SignalsJanuary 20, 2018 at 4:06 PM

    This comment has been removed by the author.

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