Dow Top Call - 11yr formation - part 3 (COSTCO)

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Quote from deadbroke:

I squished the EurUsd 1H chart so you can see the 23.6% level (@ approx. 1.4713) which lies outside the Target Box and obviously above it. Just above that is the 261.8% level.

But the truth is I'm already pissed about the Euro going outside the Target Box. To me that's a red light that something is amiss. Now it is true that a second wave can retrace 100% (but not more than that) of wave 1, but that is rare - could happen but once past my Target Box I start to dig for errors on my part.

More to follow on possible errors later




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Possible Euro error

Have a look at the EurUsd daily ... see where I marked wave 4? That bothered me because it looked too feeble, not enough for a wave 4. That is the MAIN reason that I could be wrong and Euro will challenge the top and/or exceed it for the final top. That would mean that the drop we experienced is wave 4 and the current rise is wave 5, the final wave.

This aspect still bothers me. So its a wait and see.




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my current view of the Dow Jones on 60-min. - if the configuration here is correct, then one can easily understand why EurUsd must start to deliver my Wave 3 down. Why? Because the Rogue Wave aka USD is the prime generator of the CRASH - remember, its all one market, the US dollar on one side and versus the rest of the world on the other side.

Wave 3 is supposed to stump everyone including the dead one. But the main thing is I see the 2 scenarios and one thing I love about Price - he clears things up for me real fast - a few more bars and it will be clearer.

But this is what I'm going with currently and if the SHORT materializes on EurUsd I'm taking it with the STOP mentioned a few posts back.

Hasta manana




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Quote from deadbroke:



But this is what I'm going with currently and if the SHORT materializes on EurUsd I'm taking it with the STOP mentioned a few posts back.

Hasta manana
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EurUsd SHORT is ON with STOP above the top - see chart few posts back that spelled it all out.
 
The Rogue Wave (aka Dollar Index) on 1H

at Wave C = 261.8% X A

just below is the Fib 23.6% support (inverse grid)

shown also is the Target Box which as in Euro is also exceeded.

Unless Rogue busts thru' either the blue or black channel lines
m Euro short trade is very very iffy at best.





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Quote from deadbroke:

EurUsd SHORT is ON with STOP above the top - see chart few posts back that spelled it all out.
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EurUsd - took profit on 50% of the SHORT position.
 
see previous 15-min. chart -

The green m.a. shown is the 200 - if the elasticity and coefficient of restitution of the 200 fires, I'm outta there pronto.
 
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