If it cannot break the last week high, this is my count. I try to avoid using too many WXYXZ unless if it is needed because it will limit my trading. I need to try it out at first encounter. If it breaks the set point, then use X and Y. Wrong it should be 1, 2, 3 ,4 ,5.(1) then a, b and c (2)
Sorry wrong marking. It should be 1,2,3,4,5 (Blue 1) and ABC (Blue 2). I have entered at the highest point yesterday. Hopefully it will stay. No guarantee due to today daily bar. It does not show a long body but with long tail.
As visible on this chart above the swiss franc has advanced in an ABC from the 1985 low. The two possible counts from the all time low visible on this chart are stated above. I happen to favor the W-X-Y count as visible above, either or the upcoming decline on the swiss franc will prove to be a multi year perhaps even decade decline.
Above is the USDCHF chart which is basically the inverse of the first chart posted. The evidence of a turn is very clear as visible on the image
The above image takes a look at the decline post the wave (1) high it seems possible that the A-B-C decline could be complete. ALT count is that the decline from the wave B is only the first leg of the C wave decline however the diagonal triangle 5th wave would suggest that this C wave would most likely Not extend further. I would like to stress that we are only at the 23.6% retracement of the 2011 advance, hence this whole A-B-C decline could be only a part of the correction rather than the whole. If not already long this pair I would suggest waiting for a 5 wave advance.
As visible on this chart above the swiss franc has advanced in an ABC from the 1985 low. The two possible counts from the all time low visible on this chart are stated above. I happen to favor the W-X-Y count as visible above, either or the upcoming decline on the swiss franc will prove to be a multi year perhaps even decade decline.
Above is the USDCHF chart which is basically the inverse of the first chart posted. The evidence of a turn is very clear as visible on the image
The above image takes a look at the decline post the wave (1) high it seems possible that the A-B-C decline could be complete. ALT count is that the decline from the wave B is only the first leg of the C wave decline however the diagonal triangle 5th wave would suggest that this C wave would most likely Not extend further. I would like to stress that we are only at the 23.6% retracement of the 2011 advance, hence this whole A-B-C decline could be only a part of the correction rather than the whole. If not already long this pair I would suggest waiting for a 5 wave advance.
As I posted earlier. USDCHF shows a great signal thrusting upward. The current USDCHF WXY structure end already. I have entered yesterday at the bottom. No guarantee on that. It might come down and form another Z. Thus I entered at 2nd attempt. EURUSD might have to move upward during the Non-Farm Employment Change news and that is the end of Blue 1. We will see the on the Non Farm Employment. Fibonacci 61.8% is quite tough to use. Too many places we can mark 61.8 % as refers to Giant report about eurusd in peacearmy.com. I never practice using the 61.8%. It will get me confuse. Elliot wave is the best plus the emotion of the market. Yuppe..
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Originally Posted by xtura
Expanded Flats Here, Expanded Flats There, Expanded Flats everywhere....
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USDCHF
