tag:blogger.com,1999:blog-4398676385688239123.post1772785130224969624..comments2024-01-30T03:40:13.598-05:00Comments on Forex Reflections: EURUSD—daily chartFlorida Forex Traderhttp://www.blogger.com/profile/14185457722643140364noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4398676385688239123.post-66221688480672319612011-06-14T07:41:17.001-04:002011-06-14T07:41:17.001-04:00If 1.4697 is exceeded then it would lead to an alt...If 1.4697 is exceeded then it would lead to an alternative wave count but not necessarily a third wave and certainly not a third of a third. Possibly a 5th which would complete the double zigzag. Probably you're wondering what would make me truly bullish on this pair. The answer is that it needs to break out of a triangle with no subsequent sell signal on my point and figure chart. That would be a close above 1.49 and I then would target 1.5620.Florida Forex Traderhttps://www.blogger.com/profile/14185457722643140364noreply@blogger.comtag:blogger.com,1999:blog-4398676385688239123.post-91773244353429897622011-06-13T14:31:03.743-04:002011-06-13T14:31:03.743-04:00Great EW analysis Dianne, although it still leads ...Great EW analysis Dianne, although it still leads to ambiguous conclusions. I can see why one can't trade based on EW alone, and they are a good bit of supporting evidence and a guide. It follows from your analysis that if price were to break 1.4697 it would mean we are in wave 3 up from 1.2874 and would need to break 1.4940. I agree with you that on balance the likelihood is for going lower in the ABC correction.<br />KenAnonymousnoreply@blogger.com