Disliked... waiting to be Bull, and sliding meanwhile.
LTL of downtrend channel at sma200 on 8-hour chart around 300
ema400 at 240
3-wave EW corrective wave up after first DT portion made of a 5-wave EW on dt = downtrend confirmation?
Edit: I forgot to draw also a bearish divergence (A-C up, equivalent points on stoch down).
50% of the Weekly HL range = 250 (july-oct 2011) (in fact it's rather 233 but I like the round number better).
Attachment
Targeting 1.0310 by now as it is the heavy fandango zone. Will reassess if/when reached...Ignored
Your 1-2-3-4-5 wave construction violates the basic rule of no overlapping of 1 and 4. It's not an impulsive wave. DB
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