DislikedYes but this is a separate study I'm doing. If I'm right about my assumptions on wave analysis, I will be able to spot a major trend reversal on the euro (or any other market for that matter) using the weekly chart. This to me is important because if I was to trade Jacko's method, I need to know how to spot when a trend reverses. This can be done using a number of ways but I find this easier. Trading this way also gives me more insight into why his method works so well so when market conditions do change, I will know my boundaries and can adjust the method accordingly.
Do I see more downside? If the daily wave collapses, yes. I'd be very cautious to take longs then because the waves going down will be larger in size but even the moves up will probably still be around 300 pips or so.
Ignored
Interesting stuff, will be watching for your reversal call, thanks
Money & Pain
Respect the market, protect your capital, be patient