07-03-2009, 06:35 PM
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Member
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Join Date: Oct 2005
Posts: 1,606
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Quote:
Originally Posted by Ilovepippin
Before I close down for the weekend, just noticed another diagonal, we know what that means...
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Good observation, Pippin
It certainly looks like an ending diagonal in wave C. Wave "e" is not complete yet, it might end up in undershoot.
We know what it means. It is a very powerful bullish signal. It will be fully retraced. In this case, in excess of 1.675
It will be lots of fun to watch.
BTW: EURUSD cannot be far behind. I have been advocating on these pages for a week now that EURUSD is forming a leading diagonal. I am saying this because each leading wave 1,3,5 can be subdivided into 5 waves. So, it surely looks like a leading diagonal to me. It must end up with a deep A-B-C correction to confirm, which is happening now.
Once the correction is finished, it will burst up in a powerful motive wave.
I become more and more convinced that my scenario with EURUSD moving up to 1.48 will play after all, despite all gloom and doom. |
