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Thursday, 6 December 2012

EUR/USD H1 & H4 Update

This is new version on my count. I have presented  very similar one on Monday but  I got suspicious about wave (4) being so short. That did not look good to me that time and I wonder what if I will extend wave (4) a little, it still looked like a nice triangle and then ending diagonal wave (5) that tops the wave 3.
Well, as You can see: first thought - good thought. I've nailed a top but labeling was wrong  - it should be complete cycle of wave 1. I have been expectin' one more wave to the upside ( look like I often expect that) to finish the sequence.
This is why my morning EUR/USD TPI was about buying the dip in anticipation of wave 5.

Right now current situation is on chart.

Take care,
Seb



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