Hi all,
I have just updated hourly and daily EW count on my blog. See pics there.
During the past days, when the corrective wave got bigger and bigger I switched already to an alternative count. Yesterday I said, that I had to recount, when 3306 would be breached.
Sometimes one needs such a big slap in the face to get a good teaching:
The whole orange 3 down it was a pain to count. But counting had come easy, if I had not counted what I believed rather than counted what I see in the charts.
And sometimes one over-complicate things. An extension here, an extension there. But normally only one of the three impulse waves has to be extended.
Orange 1 made 709 pips
Orange 3 made 818 pips
That leaves the door open for a nice extended wave orange 5. Currencies are like commodities. They tend to extend their 5th waves.
I think that this recent wave up will end between 3428, 3447 and 3489. 3489 would be the point of recognition in the wave red 3 of orange 3.
This leg up can either be the whole wave orange 4 (what I believe at this point), or it could be the A-leg of a big ABC-flat (3-3-5). Wave B down of this flat should terminate around 2968 or even deeper (at least retrace min 90% of A) (normally 100 to 138% of A)
More later......
I have just updated hourly and daily EW count on my blog. See pics there.
During the past days, when the corrective wave got bigger and bigger I switched already to an alternative count. Yesterday I said, that I had to recount, when 3306 would be breached.
Sometimes one needs such a big slap in the face to get a good teaching:
The whole orange 3 down it was a pain to count. But counting had come easy, if I had not counted what I believed rather than counted what I see in the charts.
And sometimes one over-complicate things. An extension here, an extension there. But normally only one of the three impulse waves has to be extended.
Orange 1 made 709 pips
Orange 3 made 818 pips
That leaves the door open for a nice extended wave orange 5. Currencies are like commodities. They tend to extend their 5th waves.
I think that this recent wave up will end between 3428, 3447 and 3489. 3489 would be the point of recognition in the wave red 3 of orange 3.
This leg up can either be the whole wave orange 4 (what I believe at this point), or it could be the A-leg of a big ABC-flat (3-3-5). Wave B down of this flat should terminate around 2968 or even deeper (at least retrace min 90% of A) (normally 100 to 138% of A)
More later......
you said gap..
GOD bless us all
