EURUSD: wave 1 or A -- my answer to Bear's question.

This was my thought process -- humbly submitted. Don't know how many EW rules I'm breaking here, but ID can set me straight on this score.

Joseph's EW#1: Within the structure of the supposed wave 1, if there is no clearly discernible (ii) and wave (iv) looks like a picnic, plus the lack of any wave iv within (v) of 1, I smell a rat and this noxious smell usually is the malodorous, soon to be coming to life, wave B, farting in advance of initiation.

Joseph's EW#2: Look back to the corrective drop in early 2004 within the previous bullrun -- if the 2005 drop is wave 1, it is as dubious as a one-legged man in a butt-kicking contest! ..... especially considering the long 4-year bullmarket, one would expect a true wave 1 to kick better ass.

Joseph's EW#3: First waves aborn out of BASING structures and sometimes even in these bases they are hard to distinguish because they never rise out of the base and get hammered by wave 2 within the base itself. This type of wave 1, I call a faggot because wave 3 then has to do all the work while wave 2 thoroughly buggers wave 1.

The other type of wave 1, also out of a basing pattern, is a sight to behold -- this is a different animal altogether. Even on the chart this type of wave 1 looks exactly like an underpantless gigolo who's just seen a beautiful, sexy woman with lots of money.

There was no basing pattern in 2004, therefore this is one more point I used in the elimination process. Odds here heavily favored a wave A in my book.

Joseph EW 4: Wave 1 has a definite tendency to whack the uptrendline; at least put a dent in the sucker. If this was a wave 1, he kissed it, fondled it, got his sacs emptied and then rebounded -- here then is another reason why we are dealing with an A, because wave B of A is next -- the perfect setup for Euro bulls to buy the dip and go Long ..... to eternity, hehehe.

I speak only for myself -- and keep in mind that I've been sent here to blow my account to smithereens & to ensure that the Scriptures are fulfilled! :) :)

On a more serious note:

actual confirmation that we are not dealing with an OVERALL impulse wave for the entire 14 month run starting from December 31, 2004 is further confirmed only in hindsight by the following points:

(1) If the first drop was a wave 1, then the subsequent wave 3 into July 7th, 2005 was a mellifluous pussy. Why? Because even Jack was still bullish the Euro. No recognition in the 3rd of 3rd that "hey, this is dangerous, something weird is occurring" -- I'm going to get buggered if I don't reverse and jump on the train. I'm going to be left behind." None of this type of thoughting, thunking or whatever.

And what's been happening for the last several months, since the July bottom, is the characteristic limp dick wave B, fooling everybody with divergence galore, making all kinds of noise to mask the truth that he can't get it up. The reward at the end of this charade? Full retracement by big dick wave C to under 1.0000!

Adios!