In line with the long move on the dollar we've had a push down in the Euro
but I'm still looking for a B Wave back up. (Just as I'm looking for a short 5th wave on the dollar index
) In my last forecast I was expecting a long b wave which we got but it was of a lower magnitude than the one I expected. That does not change the long term forecast which is for the B wave up. Just as the 4th wave on the Dxy
is a zigzag
we now have a zig zag
for the A wave. Once complete we'll have a long trade for our B wave. Any long set up now may be worth a punt.
I'll update my ideas as they develop
First rule of trading - Protect you capital
Any one trying to learn Elliott Wave
Theory can find a FREE comprehensive Building Blocks video course on my website. See my profile for the link.
You can also follow updates via twitter (link from my TV profile)
Always wait for an entry set up before risking your money.
This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome
Good luck Steve Nixon