Elliott Wave EUR/USD

Unfortunately I have been too lazy to do that all the time, But it should always be done. I follow wave counts always, but I don't always use Fib.

Here is my chart for today and things are going as predicted. BTW Blaiser, I measured wave three with a fib projection and wave 5 has already passed the 161% mark and the 200% would put a bottom in at about 119.40 and 261% will put a bottom in at about 113.50. I think the 119 area is a probable area for a temporary bottom.

One More possibility I see is that the euro may have already bottomed out. I don't think this is likely, but I'm attaching my hourly chart showing this and that equates to where the iii is on the daily chart.

I have had several requests for good entry and exit points so I'm putting up my USD/CHF daily chart. I think now is an excellent time to go short. If you would like to wait another 100 or so pips that will probably be ok. I just sold a small amount with a 300 pip stop expecting it to go up to the trend line, but sometimes the E wave in a triangle undershoots or overshoots the target. My initial target is below 1.00 but I think it has potential to make the .85 range. P.S. If I am correct I will start adding to my position based on pullbacks and wave counts. Good trading everyone.

My entry is short @1.1570 with a stop @1.1850 and a limit @ 1.00

Here is my latest Daily EURO chart. Not much has changed and I don't think it has much more downside potential.

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Here is my Euro 1 hour chart. I've been waiting to get some kind of clarity from an Elliott Wave perspective and I think an ending diagonal is a good possibility. The Euro must go below the 1.2142 for this count to be valid.

This Euro looks ending diagonal textbook complete with overshooting the mark on wave 5 which is normal in a triangle or diagonal. I just bought at 1.2018 with a stop at 1.19 and limit at 1.26. Also the RSI is showing oversold.