I haven't really studied EW analysis, and I avoid any kind of technical analysis on pairs not involving USD. Euro investors don't value their currency against the yen, and Japanese investors don't value their currency against the euro - all currencies are valued against USD.
Note in my previous post I mentioned trendlines and a MA on eur/jpy, but not before doing a support/resistance analysis on both eur and jpy individually - both against usd. Eur is technically bullish v usd, and jpy is technically bearish v usd, which automatically makes eur/jpy bullish.
The only tools I use are fundamental analysis and very basic support/resistance analysis, analyzing each currency individually then buying the strongest and selling the weakest as the pair bounces between S/R levels. I think these two areas are where the biggest edges can be found in forex, whenever I try to add another tool it seems to contradict what I am already doing so I stick with FA and S/R. EW looks interesting, but I would need to find a way to use it to complement, not contradict what I am already doing. The fact that your EW analysis leads you to virtually the same conclusion as me tells me that it may be compatible with my style.
Note in my previous post I mentioned trendlines and a MA on eur/jpy, but not before doing a support/resistance analysis on both eur and jpy individually - both against usd. Eur is technically bullish v usd, and jpy is technically bearish v usd, which automatically makes eur/jpy bullish.
The only tools I use are fundamental analysis and very basic support/resistance analysis, analyzing each currency individually then buying the strongest and selling the weakest as the pair bounces between S/R levels. I think these two areas are where the biggest edges can be found in forex, whenever I try to add another tool it seems to contradict what I am already doing so I stick with FA and S/R. EW looks interesting, but I would need to find a way to use it to complement, not contradict what I am already doing. The fact that your EW analysis leads you to virtually the same conclusion as me tells me that it may be compatible with my style.
si hoc legere scis nimium eruditionis habes