Eur/Usd : Ready to go higher

2015年8月17日

The hardest thing in elliott wave are corrections and transformation of these corrective structures. We are now at one of those tough places where the corrective rally from the top is finished but is still quite small. With transformations i mean the wave can extend in time (become a triangle where we have the first leg finished) or price ( bigger double three corrective wave where the first wave is finished or become a flat ). The highest probability, for me, is that price will go higher in the next leg of a double three or wave Y (circle). Do not forget price has just broken trend line resistance and has retested this as support. My best advice at this point : if you're will to risk it, go long now, but know the correction is still young. It might be better to wait and see how the waves roll out, the bigger the correction gets the more change of having the correct wave count. If the small corrective wave proves correct, step in at a later point and follow the trend up to 1.14.

I understand elliott wave can be complicated at times so if you have any questions, i'm always willing to help, just post your questions in the comments.