I think it's reasonable to discuss that, and I do agree EURUSD is acting in Elliot fashion. I wholeheartedly agree, though, that Elliot is in the eye of the beholder. If one learns the rules and finds oneself amid a wave 3, then by all means hold on for the ride. Wave 5 is a delemma. A wave 5 extension can produce profit, but why hold onto that fearing a reversal? Move along to the next Wave 3 candidate........could it be, perhaps, USDCHF (longer term than above)???? OMG - what about USDJPY when it moves....is that going to be wave 3??? Is that weekly doji-esque harami off the 50 fibo the trigger we've been awaiting?? Perhaps I am not so dumb after all? Perhaps a buy stop at 91 is in order for those looking for momentum to recoup those lost pips from premature excitement??
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"Don't trade to trade . . . trade to win." - James16