Our count of a fourth wave triangle got invalidated at a breach of the 1.2880 mark. I am counting this wave C complete as of the OCT 17th high (5th wave of C was a failure). The pattern that the purple wave 2 unfolded as was a running flat, since the wave C failed to breach the end of wave A. Another point worth noting is that markets tend to put in thier high/low of the month in the first few days of that month. we have a significant high on the NOV 1st. the wave count plus other technical studies suggest that this is going to be the high of the month. Purple wave 3 is currently under way and shall take the EUR down to new lows for the year.
Regards,
Ahmed Farghaly
What is the latest counts ? is it bottomed now ?
ReplyDelete