What was my primary count since early late December 2010 is now my alternate count, and is shown above. (Please forgive the typo on the word "alternate" on the chart). It looks like an ending diagonal may be forming to complete wave 5 purple of wave c orange of wave 2 green of wave 1 pink (a leading diagonal) of wave 5 black of a bearish leading contracting diagonal for burgandy (primary) wave 1. Whew!
See http://sidscharts.blogspot.com/2011/02/introductory-post.html to get a bigger picture look at what is now my alternate count on the Euro.
The thing that makes this another great risk-to-reward shorting opportunity is that the invalidation point (1.38631 ask) is a very short 60 pips or so above the current price. The eventual target for wave 5 black is still under 1.2. Let's see . . Potential loss = 60 pips. Potential gain = 1800+ pips. Hmmm . .
