EURUSD: Update and Rgmov wave count
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In this publication I wish to expand on my previous multi-timeframe analysis of the Euro.
In the right we have a wave count I've updated, based on Tim West's publication, which warned of the end of a wave B in the Rgmov 'wave chart'. This alerted of a potential uptrend to emerge from that spot, which did materialize but has taken longer time than Tim estimated.
The duration of this corrective structure is now 2.618 of the sumation of waves A and B of this triple correction. My view is that we're in a neutral/extracting triangle formation, currently ending wave e (which looks like it's a triangle of the same kind as well). Complexity of these patterns makes it very hard to decipher what the structure is until they are almost complete. If this is the case, we have sufficient time to have completed a wave 2 in an impulsive decline (could also be a B, but the end result would be the same: we have a massive decline ahead, which aligns with my quarterly and monthly time at mode forecasts).
In the left we have a monthly and quarterly time at mode forecast, with a 17 quarter downtrend active, aiming for targets below parity. The monthly has a 10 month mode and a 10 month decline active, and we now have a new 10 month mode if this monthly bar closes at this spot and doesn't expand range down (which might happen as soon as tomorrow during the ECB and/or rates decision events).
If I'm right about these observations, we can expect a decline at least as violent as the one from the 2014 high to the lowest low, but potentially even bigger and sharper if it's a wave 3 that's about to commence.
You don't want to miss this action, trust me.
For more information, contact me via pm, I'm hosting a trading room for signals and also running a PAMM. My profile has all the details.
Cheers,
Ivan Labrie.
In the right we have a wave count I've updated, based on Tim West's publication, which warned of the end of a wave B in the Rgmov 'wave chart'. This alerted of a potential uptrend to emerge from that spot, which did materialize but has taken longer time than Tim estimated.
The duration of this corrective structure is now 2.618 of the sumation of waves A and B of this triple correction. My view is that we're in a neutral/extracting triangle formation, currently ending wave e (which looks like it's a triangle of the same kind as well). Complexity of these patterns makes it very hard to decipher what the structure is until they are almost complete. If this is the case, we have sufficient time to have completed a wave 2 in an impulsive decline (could also be a B, but the end result would be the same: we have a massive decline ahead, which aligns with my quarterly and monthly time at mode forecasts).
In the left we have a monthly and quarterly time at mode forecast, with a 17 quarter downtrend active, aiming for targets below parity. The monthly has a 10 month mode and a 10 month decline active, and we now have a new 10 month mode if this monthly bar closes at this spot and doesn't expand range down (which might happen as soon as tomorrow during the ECB and/or rates decision events).
If I'm right about these observations, we can expect a decline at least as violent as the one from the 2014 high to the lowest low, but potentially even bigger and sharper if it's a wave 3 that's about to commence.
You don't want to miss this action, trust me.
For more information, contact me via pm, I'm hosting a trading room for signals and also running a PAMM. My profile has all the details.
Cheers,
Ivan Labrie.
Note
Link to today's webinar: youtube.com/watch?v=eKc8fHwejWMTransaction en cours
Fading rally...Note
EURUSD is acting really weak.I think we have a shot with our short entry.
Note
Sharp move down today. The price action is completely erratic here, I'm standing aside for now.Note
Current targets for the short side. Looking to flip long around those parts.Note
Note
(Don't chase the long, wait for clear signals to enter)Note
EURUSD skipped my longs and went for the move I was expecting over night. We'll have the perfect short here soon (if my analysis is correct)Note
Approaching the top, we have an easy short term long here.
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