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Monday, July 13, 2009

New EW Count

This is my new count. While my prior count of Minor C has not yet violated any EW rules, it no longer had the right look. The over all timing is also better with this new count, and it stays within the pitchfork.

Intermediate A took 67 days. Wave B should take at least 41 days. We are at day 21 so another 20 days to complete the remainder of waves B and C would seem about right.

In this new count Minor Wave A is 89 point and took 18 days. Minor B should take about 12 days and travel at least 32 points to 902. So far todays high was only 986.49 therefore I prefer to lable this (minute wave a) of Minor B. We have spent 4 days in Minor B and the prefered time frame of 12 days allows for minute wave b and c to take at least 8 more days.

If Minor B completes by the 27th of July it still fits withing the fringe of the Andrews Pitchfork at around 902 for a flat correction.

So while it once looked like we were imeadiately heading down on Minor C, I think there is good reason to change the count.

Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.

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