Hello readers,
Starting the first post for elliott wave analysis for the pair eur/usd !
Some days ago something came in my mind before that I gotta write some thing here
I did read some elliott prediction for eur/usd using long term counting, ie weekly even monthly.
Someone was stating around jan 2012, eur/usd is having a triangle and likely going to fall for C wave down.
It didnt felt the triangle correction. However, some other elliott wave counts have been considered by me and they prove to be going right.
But some new findings are coming to my mind..
This is just Probability coming out from my observations...
Here is that Probability
I will call it Probability 1.
Here it is :- eur/usd weekly Fall from 1.60 has finished Larger ABC around 1.18 area.
From there it is going up leading Wave 1 with leading diagonal wedge pattern then after it is having abc X abc zigzag formations ending at 1.2290 area, the recent low.
Now, from here it has finished Leading diagonal wedge as wave 1@1.27500 area, 4h chart.
Then after it is having zigzag abc correction ended @ 1.24000 area.
Now Eur/usd in 3rd wave up for major Rise that could lead eur/usd to 1.60 Above levels BUT NOT ABOVE 1.80 levels, surely finishing its 5th leg( and it could be C wave?)
The pattern called Wedge, diagonal wedge, expanding-leading-declining !!
This montly wedge probabily that is experiencing wave C
This probability could be reality if eur/usd pair goes beyond 1.30 levels ...
This is the end of Probability 1!
I am going to post about Probability 2 if my Probability states incorrect.
Champions keep playing until they get it right. -Billie Jean King
