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Thursday, 6 December 2012

EUR/USD M30 & H4 Update + TPI


First leg or whole wave 4 is about to finish. Last sub-wave do the downside needed. 
After that it is recommended to closley watch price action in order to spot the impulsive wave development. Right now wave 4 structure is a Zig-Zag but this kind of pattern is very rare in wave 4 - possibly this is only wave (a) of a larger corrective structure so trading wave (b) to the upside will get choppy.

Trading according to  Elliott Wave  is most effective in impulsive waves so this kind of wave development on EUR/USD today is in rather non-tradeable enviroment: choppy and full of fakes. 
But if You have to then try to buy the dips from rectangle area.
If rectangle is broken 1.3000 in unavoidable.

Take care,


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