And here's an update to the longer-term GBP/USD view. Since the 1.70 top price has traced out a three-wave decline and a three-wave rally. At this point, all of the possible counts are still possible (fourth chart below). The next thing to watch for is to see whether or not the 1.70 high is taken out. At that point we'll be able to cross some of those counts off the list.
If it holds (closing bais) this 1030 area the simple measured move abc looks appealing...
1117 area on the ES Z should be the natural target..... As Jay points out the EWI crew looks as if their counting to fast going of the 120min ES #Z chart from friday]
This one is for you Vincy. What do you think? This idea only just came to me. I know triangles are very rarely seen as in wave 2's so if this count is correct it is likely that a B wave is nearing completion. The 61.8% Fibonacci has held as support so far with no 4 hour candle able to close beneath it. I remain bullish on this pair as long as price is above 89.50.
1117 area on the ES Z should be the natural target..... As Jay points out the EWI crew looks as if their counting to fast going of the 120min ES #Z chart from friday]
The DOW seems to be leading. There is a gap below on the S&P and it may not make the projected high.
Just wanted to give a quick update on my dollar trade:
I was stopped out again after re-entering post-Fed meeting and decreased my profit to only a small 44 pips on the long dollar trade after. At this point, risk/reward favors the dollar bulls at recent swing highs and lows against the euro or chf, but I'm choosing to wait for signs of dollar stength before I re-enter the long side.
I'm bullish the dollar long term as long as the USD/CHF stays above 0.9644.
It's been a year since I posted my original list of possible EUR/USD wave counts, so I thought I'd update it since EUR/USD may be nearing a significant turning point. All of the counts in the list were derived with the assumption that the 1.60 - 1.23 decline is in three waves. While it is still not completely clear whether that decline is a three or a five, the list has still been a great guide nonetheless.
Looking ahead now, all of the remaining counts allow for further upside potential, with the more probable counts looking for the EUR/USD to top out soon. Based on this list, my preferred counts are the complex and the triangle.
If you count the 1.60 - 1.23 decline as a five-wave move, then the possibilities are similar. That decline would then be either:
It's been a year since I posted my original list of possible EUR/USD wave counts, so I thought I'd update it since EUR/USD may be nearing a significant turning point. All of the counts in the list were derived with the assumption that the 1.60 - 1.23 decline is in three waves. While it is still not completely clear whether that decline is a three or a five, the list has still been a great guide nonetheless.
Looking ahead now, all of the remaining counts allow for further upside potential, with the more probable counts looking for the EUR/USD to top out soon. Based on this list, my preferred counts are the complex and the triangle.
If you count the 1.60 - 1.23 decline as a five-wave move, then the possibilities are similar. That decline would then be either:
-Wave (1) of an Impulse
-Wave (A) of a Zig/Zag
Justy excellent post.... Here's a daily chart of EURUSD with some fib relationships from the fibonacci forum posted a while back... Something to keep an eye on...
I've heard Prechter saying lately that he's really bullish on the USD and looking for it to be up for a few years, but we have yet to witness the major reversal in EURUSD... Deffinately keeping a close eye out for the top anywhere along the way now ..
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Ka me ha me 
vincy
Originally Posted by freelancer 
