Greetings! My name is Sid, and welcome to my blog. Sid's Charts is essentially a diary of the forex and futures charts I trade from every day. Each chart will typically include carefully considered Elliott Wave technical analysis, trendlines, MACD, and Fibonacci targets. Accompanying each chart will be additional explanations, commentary and predictions. Also included here are numerous links to many of the best trading education materials available. Enjoy, and thanks for visiting!
Thursday, February 17, 2011
EUR/USD E-mini - February 17, 2011 - 15 minute candles. My count on the recent up-move . .
All the pieces of the puzzle should be in place, a "double 3" combination correction (Zigzag-Flat), terminating almost precisely at the Golden Mean (.618 fib). In theory, it seems perfect. Let see if the top is in . .
Seriously, I can't find any kind of impulsive count to go with the upward movement in the EURO starting at 1.343. Its overlapping, sloppy, erratic, and choppy. This is what corrective structures look like. I don't see how this upward movement can be interpreted as the resumption of an uptrend, although, if price manages to move up beyond 1.37457, I'll be forced to produce a bullish count somehow . .