Showing posts with label B wave. Show all posts
Showing posts with label B wave. Show all posts

Friday, August 17, 2012

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

Tuesday, August 14, 2012

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.