It looks like I called a probable bottom early as usual..........I do think this week the dollar will drop some across the board because wave 2 will have to come into play at some point soon.........It has never failed yet and I know this time will be no different, but as I have stated before, impulse waves can extend and this one may be doing that.........the implications of an extended wave 1 are good because that is a good clue that mass mood has done a complete reversal...............I have been calling for a reversal for a long time,,,,,,,,,,and not just a correction, but a real reversal that reaches new lows..........In the Euro this means below 1.20 at a minimum..............I am looking for it to go lower than .80 myself, with a good chance that the European Union will break up and the Euro will just collapse and go away forever.................If that happens then you can redeem your Euros for gold at 25%,,,,,,,,,,in theory..........Here is something not really related to trading, but then again everything is related to trading...........I have been watching the network news here and lately I have noticed that it is getting harder in the good ole U.S.A. to decipher the truth..........
I will be watching and researching things if the Euro looks like a total collapse so that I can cash out at a safe level before having to accept a partial payment.......
ReplyDeleteI agree that EUR_USD is retracing in w.ii. There seems to be good resistance at 1.4318-29 but that should be w.a of a three wave sequence. IMO, when the next leg down occurs a minimal target is 1.3731 with MUCH larger potential.
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