A view to a funeral or a funeral for a view

He was a cowboy, mister, and he loved the land. He loved it so much he made a woman out of dirt and married her. But when he kissed her, she disintegrated. Later, at the funeral, when the preacher said, 'Dust to dust,' some people laughed, and the cowboy shot them. At his hanging, he told the others, 'I'll be waiting for you in heaven---with a gun.'"



As I was looking at my view of the Euro I was reminded of a funeral, so I searched for a good quote that would symbolize my disdain. Searching thru the many quotes under the heading of funerals I came across this one. Seeing as we have had many illustrations of the old west I thought this would work, made me laugh anyway....

The Bear is lost in the forex, atm....

Price has broken the fork and the parallel, and now looks like its poised to drop farther south, the charts should tell the story.

A series of relabeled charts

Now am beginning to think that we may be in the 5th wave down, and if that's true will be hard pressed to find a good entry south, (we needed to jump on this wave back up in the 2300 area) so scalping hats may be on for this final descent.




One of the problems I have had is labeling some of the minor 5th waves

Here intermediate 1 & 2 seem obvious, but trying to count 5 on the 3rd I come to this conclusion.




To end the count for the 3rd wave back in June, its hard for me to count 5 waves, so I allow for the 4th (retrace) and then end the 3rd wave in December ( red boxed area ).

If any of you were following back on the Moneytec thread I was looking at this as the end of intermediate 5. But here again, was hard pressed to put the final 5 of 5 tag on anything.

And again finishing the 5th of 5 of the 3rd I'm forced to label here. Which leaves us the 4th wave as shown.


I was really expecting the low of the 2/16 (1.1848) candle to hold and to start the "C" wave north of what I thought was a larger correction which would have been defined by the yellow fork. However with the low being taken out this leaves the door open for more south in my books.

One problem I have with this view is the simularity between intermediate waves 2 and 4.

I do show a time for reversal coming up mid to late week but I think we will be slowly dropping for the next few days, however Im now beginning to think that any euro strength will be limited and confined in the black fork, which will be the opportunity to short.


Here's my hourly Im looking at looking to finish this 5th with the completion of the 4th wave triangle.




Still trying to put the pieces back together, will post later with a cleaner view. May need to look at this as a larger corrective move.

Have some more thoughts on different pairs, back in a bit