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!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.