EURUSD: weekend summary

The great thing about weekends is that the market takes a break from printing price bars and I can sleep on what has happened over the past week. Now that I have figured out a better way of posting charts, I am going to try a quick run down this weekend using just My-Waves over different timescales.

Big count then: we are in the 'b' wave in 'C' up from 1.2041 or it is over already. The 'B' comprised of an 'abc' which was close in time to the 'A' wave. The slight time discrepancy is highlighted by the solid- to-dashed lines to the right of the screen. End of year target for end of 'C'. My count, so no matter if wrong as only big picture stuff and I don't trade this anyways. However, note the possibility of a fractal 'hint' within the 'a' wave of 'C' - I have added coloured bars to coordinate 'A' & 'B' with what might be happening in 'C'. Just musing. Can you see what I see and is it worth seeing?? Note also that the monthly My-Wave has not turned down but merely compressed so far and if the fractal is right, 'b' maybe over already.

The weekly wave has also not turned over, although it is doing a blimming good job of getting there. That is either 5 waves down for 'a' or 3 of 'a' or it was all of 'abc' for bigger degree 'b'. I am keeping my options open here in light of that fractal hint in the last chart, but like the last option. My eye is drawn to that reversal pattern and the power of the initial climb Friday. Market would be scratching head if it just kept climbing. Look again at the 'a' wave in 'C' in the first chart. This is why I play the small degree waves!

So, the daily wave. It is still clearly down hill and does not sport the usual sidewards 'pinch' of a 4th wave yet. Given the messy second wave above (or was it the 'b!!') it could be the 4th wave down is now in play as a spikey zigzag for alternation. I think that was a 'b' wave (or '2' up) on Friday evening, so will be playing for up on Monday morning as 'c' wave minimum and go from there. What would not amaze me would be a out of proportion spiker uphill to take out the daily wave in one go. See above for why.

I reckon the fractals are rolling down to these smaller time frames. Compare that 'a'/'b' from Friday and then look at that first chart again. Ummm. I am comfortable trading uphill for now and my stops are below the Friday low. Lets see what happens.