The flat correction as wave 4

A flat correction as wave 4 in last wave C.

Below speculated diagonal wedge as wave C of this 4th wave..

As my previous post, this wave 4 should end around 1.242,, area.

ABC for wave 4

The wave counting for 4th wave (of 3rd major wave)

Its been a very complex to speculate, isn't it?
But it hasn't been that!
As I said in previous post about daily chart need a 5th wave up......



The Entire wave 4 is not WXY ( double zigzag )
Its double zigzags + double zigzags + An Impulse !

Yellow wave A = double zigzags (aqua a) + double irregulars (aqua b) + double zigzag (yellow A)
   Yellow wave A = 400 pips.

Yellow wave B = double zigzag (where c = 2a)
   Yello wave B = 200 pips

As rule, wave C in ABC correction should be impulse or diagonal.

Here, Yellow wave C is extended in its 3rd wave (white 3).

Is there white wave 4 ended at 1.24600..

No, it will end around 1.24200 area...! ( target for buy! )
Then a extended white wave 5 begins or a ending diagonal.
Target 1.26300 area ( where Yellow wave C = 400 pips )

Target for wave C Final

Below a daily chart clearly showing last wave 5 in need.

The target according to wave C=wave A is 1.263 area.

From the start of the wave 4 to speculated end 1.263 area..

Previously, I wasn't sure about eur/usd being in impulse of C wave down, it was Usd/chf lately realised me that..

If you are looking to sell euro for long, you will have to pay carry trade interest.

Advise is look for buying Usd/chf.

Target for wave C (updates)

The 4th wave's A is 400 pips.
Wave B is 200 pips
IF wave C = A then Target is 1.26391

A clear break of 1.2580 will trigger that target.

It has invalidated 0.618 relation
1.618 could be invalid according to time.

The recent decline from 1.2580 area is in ABC..expect its making a diagonal in bigger time frame.
Wave C must be an Impulse or an Ending Diagonal.

Elliott wave flow chart

A new dimension

Above picture White W fixes a square.
White Y contains two triangles, increasing triangle A connected decreasing triangle C

In ABC corrections, wave C should be impulse, my first impression was an Impulse...

This one started as double zigzag ( a single zig-zag in bigger time frame )

Wave A = Double zig-zag
Wave B = A Triangle
Wave C = A zigzag +?

I need target of 1.25285


Ray

First zigzag at 1.24870, correction could be deeper

Below picture, watching it carefully..

Above picture, Yellow W is first zigzag ended, we are going to see down-side correction..

WHITE Y is consisting of extended C..

This means, correction could be deeper around 1.23900 area but Surely another zigzag is in position.


Ray.

The sharp rise as wave C, a double zigzag

The descending-ascending triangle speculation is Right but in an inherent minor view.

Above picture,
Green wave A has been imposed, it has surely set target for wave C.
Wave A's is 144 pips.
Thus 1.618 times wave A equals 1.25285.
Or 2 times wave A equals 1.25810 area.

1.25285 is just below 38.2 % retracement, failure reaching this target indicates pressure for final 5th wave.

Green B is a triangle, I can see the rise after its wave e ended.

This rise indicates a zig-zag formation already opposite of supposed impulse !
It should be double zig-zag, I will portray the Last wave C of the second zigzag.

The symmetry of corrective A and B waves

Wave A (Grey circle)was supported with two zigzags and cleared major ideal target, it is also containing two irregulars which balanced the force.
Wave B(blue square) is side-ways triangle.
The while line symmetrically crosses highs and lows in above graph.
What I am looking for is wave C's formation..very very interesting.

The blue square is a side-way correction, as I wrote in previous post, last leg E could be itself a triangle, a fall around 1.230 area is enough to to prove it,

The target for wave C

Now I will see the spike for up-side in eur/usd for the next week
Wave A's 0.618 is around 1.25500 & 38.2% retracement of 3rd wave is as well at 1.25500.
And importantly the target for wave C.

What kind of wave it could be?
It shouldn't be those double zigzags since its a different phase coming.
I am most probably betting an Impulse from 1.22600 area...
Its a bet, but it could be anything..

You soared & roamed
You soared(A) & confused(B)
Now Roar(C)?

You got direction, you are starving for it. what you will do?

Ray.

(just a probability)

Charting wave E of descending(+ascending) triangle (updated)

It look like I was correct about the descending triangle forming as Major wave B.

This triangle's waves are constructed with double zig-zags, I guess wave E, the last wave of this triangle should be double zig-zag as well..

It has finished wave W as first wave for wave E.
With a ending diagonal as wave a ( interesting ) with b and c @ 61.8% ( Nice spike)
We are surely headed towards wave Y, which will full-fill the requirements for wave E

Another probability :- this white W might be wave A of another triangle in this ascending-descending triangle
making wave E as triangle it self.
Just because wave white X has retraced 61.8% percent of white wave W.



Ray

A descending triangle as wave B?

The confusing corrections could be forming something else which I couldn't guessed !

Below picture indicates Major b wave as descending triangle.

This could be surely it, if eur/usd falls around 1.22600 area.
Above pic.

Yellow wave A= double zig-zag+double irregulars+double zig-zag

white a = double zig-zag ( end of point a marked 50% retracement of yellow A)
white b = double zig-zag
white c = double zig-zag
white d= double zig-zag ( post below)

Here, if its going to be descending triangle than white a is the lowest point in the tri angle.
white e could end around 1.22600, however a break above 1.23700 indicates fallacy of this probability.

But looking at above picture and guessing where wave B could be..it surely triangle, shallow zig-zags in a bounded channels

The start of up-side correction as zig-zags

This 4th wave has been containing zig-zag as majority.
This below picture is similar to when this 4th wave started, its double zig-zag as one making correction look like five wave impulse in bigger time frame..

5m chart showing two zig-zags below

Yellow a = expanding diagonal
Yellow b = double zig-zag
Yellow c = impulse
White X = zig-zag
Yellow a = Impulse
Yellow b = descending tri-angle,
Yellow c= double zig-zag

This overall white WXY should make just W or a.
They are surely a last phase for up-side.
I am looking for wave b to down-side around 1.230 to 1.23300 area..

It should be 50 percent retracement for wave B or wave X..

Eur/usd crossing 50% of retracement

Eur/usd started the 4th wave correction Up-side with these events.


Two sharp zig-zags for up. A
One semi and one sharp irregulars that retraced more than 61.8 percent of first zig-zag. B

Again two sharp zig-zag for up (ending with a expanding diagonal tri-angle, 15m chart)C (major A)

After the digonal tri-angle, the fall has marked 50 percent retracement from C, which is ideal for any wave B.
But, the double irregulars in previous phase suggests double pattern at least for wave B.

A fall between 1.22400 & 1.21300 suggests two sharp zig-zags waiting.

But a fall below 1.21300 suggest, the correction Up-side might be over.

Eur/Usd daily chart showing hidden bearish divergence

Below chart of eur/usd daily.

Stoch(5.3.3) making Higher-High but Price is making Higher-lows.

This is happens in a down-trend. It is Hidden Bearish divergence.

But according to Elliot-Wave Theory. The price in above Chart has yet to make A new high and then follow the Down trend.

That means in recent periods of daily candles it should firmly make another Higher - High but stoch should Also make another Higher High..If stoch now make higher low, it will mean that Price is Still in Up-trend.

This indicates the recent low in stoch should extend and go below previous LOW, it means, it should make a  Lower-low. On other-side, the price should not go Beyond 1.21300, the Price should make Lower-High.

That will mean the pair is still in UP-trend

But most importantly, the High of wave C should also produce High in stoch(5.3.3)


On weekly chart, stoch should make higher-high but price should not go beyond 1.27500 area.
Making a hidden Bearish divergence. And Fix that Down-Trend.




Ray

The Correction up-side, all most half way

Today is Saturday, 11th Aug 2012.
Eur/usd is have 4th wave correction Up-side for the 1st wave of Impulse Down-side.

It's been 19 days today and it will take long to Finish it.
Above picture showing Yellow wave A, Unfinished Yellow B.

Yellow wave A consist of white ABC, where white B is having aqua coloured abc.
They are 'double irregulars', where aqua b is wave x.

So, Yellow wave A = double zigzag (white A)+ double irregulars (white B)+double zigzag(white C).

White A is simple enough so thus white C, they are both double zigzags.
However there is no such match as A=C, 2A=C, etc.
Wave A = 1.11 times Wave in this case..

What important thing is :- ONE corrective Phase [ Yellow wave A] is over.
Next is Another Phase of Correction [ Yellow wave B] - Which is running with having finished W, it is wating for X & Y. 
At that point it could have finished wave Yellow B. 

There start Yellow wave C, it Should over shoot & surely making new Highs (above 1.2440 area)

How did wave A end?

A expanding diagonal triangle should be found in start of impulse or wave A.

but I think there is expanding diagonal triangle in 15m chart Eur/usd

Then there started Correction and its still ON.

This expanding diagonal tri-angle was getting existed on early hours of Monday, when market begins trading..