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Friday, 14 December 2012

EUR/USD H1 Update

Again, I've been expecting one more wave to the downside before any rally might resumes but it looks like I missed something: yesterday evening I have labeled wave W and X expecting wave Y to come and finish the cycle of a little more complex wave 4 and this idea would fit the Rule of Alternation.
Altrought, today EUR/USD is at new local high so somewhere there I must have missed a wave. On the other hand it fits alt. count suggesting wave 1 has finished, wave W is first leg of Running Flat correction with very short wave C.
I went down to 5min to see what I did wrong. And it looks like I have missed the obvious: A Triangle wave 4!
There is one count of EUR/USD H1 that I have showed You guys at the begining of the week wuith only bullish option and this is update for it.
I guess wave 1 of this count will end in SUPPLY area, then EUR/USD will begin the correction.


Take care,
Seb




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