KNOW WHAT OTHERS DON'T
Welcome to my Market Directions ramblings.
I mainly focus on Major Forex pairs.
The idea is to grasp Intermediate to Longer term market moves.
I use different aspects of Technical Analysis and I take into consideration economic news data, but just in conjunction with my technical analysis.
Comments and criticism are welcome as long as they are constructive and will help both readers and me to improve our understanding of markets moves.
Wednesday, February 15, 2006
DX daily chart with EW -- ID, your thoughts?
ID, sock it to me; you won't hurt my feelings; when I called a couple Crude Oil tops, even my dad stopped talking to me. I'm used to it, hehehehehe.
My take:
From December 31st 2004 bottom DX is in wave (A) up.
Waves A and B of (A) completed very early as shown.
Wave C of (A) started March 11 and is still in force.
Currently should start wave c of (iv) down.
Then (v) up to complete wave (A).
The drop to the confluence of 2 Fibs, one a genuine descendent of Fibonacci, the other a voodoo concoction, is also close to the trendline shown -- no violation of encroachment into wave (i) territory.
I thought my life was going to be easier after leaving MoneyTec, but this EW is like working for the FBI .....
Regards
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