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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
The wave A can be either 3 waver (abc of A) or it is more often a 5 waver in futures markets. Forex seems to have a lot of 3 wave A's. Dunno why. dems da rules Chloe.
The pattern now up to the 4115 higher high is a potential ABC corrective (or Gartley). The 100% was clustered with a 50% at 4100 and a 38.2% at 4112.
Next cluster for an extension would be 127.2% and a 61.8% at 4128/4132. Beyond that at 161.8% is 4163 clustered with 2 other fib rets at 4155. If it reaches that higher level then the 3 wave simple corrective idea (ABC or Gartley) is probably invalidated.