Possible targets for the end of the decline in EUR/USD
For those who have an interest in a possible Elliott Wave count and some out of the ordinary projections in percentage terms:
If wave c of Y = 1.414 times the % decline of wave a of Y: 1.01548
If wave Y = 1.272 times the % decline of wave W: 1.00079
Also, the numbers on the chart in the lower right corner were simple external retracements, as follows:
Wave b of Y times 200% = 1.00895
Wave X times 161.8% = 0.99822
So we see a tight confluence (relative to the timeframe) of 4 target values, roughly at parity for EUR/USD. I'm just waiting for a decent corrective rally to push my intraday indicators into overbought territory so I can jump back into the short position I abandoned prematurely on Mar. 6... I won't be looking to go long until after these numbers are reached. The commercials are accumulating; when they stop, it'll be time to look for a buy signal. In the meantime...
Happy shorting!
If wave c of Y = 1.414 times the % decline of wave a of Y: 1.01548
If wave Y = 1.272 times the % decline of wave W: 1.00079
Also, the numbers on the chart in the lower right corner were simple external retracements, as follows:
Wave b of Y times 200% = 1.00895
Wave X times 161.8% = 0.99822
So we see a tight confluence (relative to the timeframe) of 4 target values, roughly at parity for EUR/USD. I'm just waiting for a decent corrective rally to push my intraday indicators into overbought territory so I can jump back into the short position I abandoned prematurely on Mar. 6... I won't be looking to go long until after these numbers are reached. The commercials are accumulating; when they stop, it'll be time to look for a buy signal. In the meantime...
Happy shorting!
