A top in Euro???

Some of you have seen my 5 wave count - well well today after getting some grief from euro bulls I decided to look into in more closely - there is a joke that goes - what do you get when you put 5 elliot wave traders in the same room and the answer is 6 different opinions :-0 lol so here's another possible count but before euro bulls get too excited this is worse for euro usd - because after 5 waves down comes a 3 wave correction then down down down - back to the original trend hmmm

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Comment by Peter jcp on February 6, 2013 at 10:53pm: Hi JT - yes Elliot Wave analysts are like a bunch of Economists - they will never agree;-). Looking at your chart and your OB stock - you would have to agree we will fall more - but to throw another "curved ball" into the equation - we have retraced up over 50% Fib - and fall might stay above your 23% level and "B" - making a nicer H & S ( wider shoulder) than before - for another go back up.

There are just so many connotations to play with that we know - if too many switch to sells and it looks then attractive to the players - we go back up - whereas if its still bullish and we challenge over 3700 again - the players will drop it.

It reminds me of playing "tick" at school - you know the game where you "dodge" out the way of the hands trying to touch you - exactly what will happen with the EU price - lol

Have a good week

Regards

Peter

Comment by JT on February 6, 2013 at 11:03pm: Yes Peter thank you for the comments I most definately agree we have so many different possibilities here it's hard to call - perhaps the ECB rte decision will give us the clarity we're looking for - at least I hope it does and not throw another wrinkle in the the equation ;-) cheers!!