EW count monthly - eternal triangle
"Food for thought:
The idea:
Thesis:
Major currencies (better pairs) can not be in an impulsive mode. If it would be, the outcome for 1 currency of the pair would sometimes result in a complete devastation.
Yes, we can see such things. But the question is:
How likely is this with major currencies?
How likely is this with markets that are really tight connected to each other?
How likely is it, that the demise of one currency will not lead to the demise of the other currency, too?
So my idea:
Major currencies are floating around each other in huge corrective modes, but in the end they find an equilibrium every here and then.
Therefore we might only label the moves as huge ABC or wxy moves.
Therefore we might only label the moves as huge ABC or wxy moves, maybe some kind of "eternal triangles".
Both the USD and the Euro have their very big problems. And both economies relay heavily on each other.
When we look at the charts - what do we see?
I see a lot of corrective waves :-)
And were do we find such a lot of corrective behavior? A triangle or diagonal comes to mind. Here we do not only find corrective waves, but corrective waves that try to look like impulses sometimes.
When we do an analysis of Awesome Oscillator and RSI on this chart, we can clearly see, that oftentimes the most momentum is at the end of the waves. That is a good sign for a C-wave (most of the time).
If we look at the moves down from 1.6x to 1.24x and 1.5x to 1.18 and do an analysis of Awesome Oscillator and RSI, the moves down remind more of an ABC than an impulse. The following up-moves are clearly corrective without a doubt.
I have formerly labeled this moves down as impulses, but never felt good about it. It was kind of forcing the count into a believe scheme.
The following count is the result of discussing the above mentioned theory, extensive analysis of the bigger waves as well as the smaller ones, and by looking at what others have labeled. I am sure, that these movements can be labeled in various ways. But I am very sure, that each and every impulse on intermediate degree and primary degree should be questioned heavily.
So here is my long term count which is based on the idea of the "eternal triangle"
"Food for thought:
The idea:
Thesis:
Major currencies (better pairs) can not be in an impulsive mode. If it would be, the outcome for 1 currency of the pair would sometimes result in a complete devastation.
Yes, we can see such things. But the question is:
How likely is this with major currencies?
How likely is this with markets that are really tight connected to each other?
How likely is it, that the demise of one currency will not lead to the demise of the other currency, too?
So my idea:
Major currencies are floating around each other in huge corrective modes, but in the end they find an equilibrium every here and then.
Therefore we might only label the moves as huge ABC or wxy moves.
Therefore we might only label the moves as huge ABC or wxy moves, maybe some kind of "eternal triangles".
Both the USD and the Euro have their very big problems. And both economies relay heavily on each other.
When we look at the charts - what do we see?
I see a lot of corrective waves :-)
And were do we find such a lot of corrective behavior? A triangle or diagonal comes to mind. Here we do not only find corrective waves, but corrective waves that try to look like impulses sometimes.
When we do an analysis of Awesome Oscillator and RSI on this chart, we can clearly see, that oftentimes the most momentum is at the end of the waves. That is a good sign for a C-wave (most of the time).
If we look at the moves down from 1.6x to 1.24x and 1.5x to 1.18 and do an analysis of Awesome Oscillator and RSI, the moves down remind more of an ABC than an impulse. The following up-moves are clearly corrective without a doubt.
I have formerly labeled this moves down as impulses, but never felt good about it. It was kind of forcing the count into a believe scheme.
The following count is the result of discussing the above mentioned theory, extensive analysis of the bigger waves as well as the smaller ones, and by looking at what others have labeled. I am sure, that these movements can be labeled in various ways. But I am very sure, that each and every impulse on intermediate degree and primary degree should be questioned heavily.
So here is my long term count which is based on the idea of the "eternal triangle"
Attached Image (click to enlarge)
