Euro Triangle to a Big Big Low 1.10???

Discussion in 'Forex Trading' started by torosyososfx, Oct 23, 2005.

  1. Euro Triangle to a Big Big Low 1.10???

    The sideways was the past week, and there is not a clear trend till the moment. Octuber 3, is the beginning of a sideways fluctation band, that can be a running triangle, because the B wave break the beginning of the wave A. But where will the euro go..... Up or Down???, the band give us the key resistance and support. Both countings are the same till the (W) wave.
    The Blue Counting shows a wave (X) finished, being the last zig zag (Y) on way. The first subwave A finished at1.1873, and is being corrected by B, possible triangle. The target of this (Y) is between the 0.5 retracement area of the primary wave ((1)), or the fib proyection of (W) 0.618 to 1.
    The RedCounting shows a wave (X) still on way, as an expanded flat correction, where the B wave is on progress. The first wave ((a)) mades a low at 1.1873, that is being corrected by ((b)) possible triangle. The ((c)) wave have an important resistance at 1.1740.