The most difficult time to trade any instrument is when it is in a complex 4th wave position. I think the Euro is currently in that position. You might see the currency come down, and just when you think it will continue lower, it could abruptly turn around and race higher. Again, when it is near the top of that rally, many pundits will call for it to go higher still, and hey presto! we could see it dumped all of a sudden. Take a look at the chart and stay away from the Euro for the time being.
- Elliott Waves
- Elliott Waves Explained
- Elliott Wave Magic Illustrated with Wave Charts
- Elliott Wave Edge – How Elliott Wave Traders Win
- Fibonacci Number Series and Elliott Waves
- How to use Fibonacci Ratio Retracements
- Elliott Wave Books
- Ramki’s Watchlist
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Wow! Been mooching around your blog. Thanks so much for taking the time. I often wonder why lots of blogs get no comments even if to say thanks. I have been getting ready to go long the dollar from euros and did a search around after posting my own analysis ( linked above in my name ). I cant be bothered with recounting over and over again so im just watching for resistance to arrive at key areas and will position size based on where I see what I believe is the turn.