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)