EURO – short term outlook @ 8Apr12


4H-2 and H-2 were made on W-2-3-4 MLU. H-2 fell outside of  H345 MLU, as well as above 4H0-1-2 MLU. When pivot 2 falls outside of the current ML parallels, this often is an indication to expect a sub wave.

The green circle shows expected pivot H-3. This will get refined as the 10 minute count develops.

The sky blue circle shows the expected area of 10 minute pivot -4 on the 10 minute 345 MLL after zooming the ML. Often once the ML has been zoomed prices will return to the ML and then carry on in the direction they came from!

The bold grey MLU is this weeks resistance line.

I am finding that at the confluence of median line,s such as we have at the green circle that either a pivot is made in that area OR A LARGE MOVEMENT THROUGH THAT AREA occurs – i.e. it zooms through the ML’s. Closer to the time it is easier to assess the likely hood depending on the sub-wave count.

Notes;

Prices seem to have found support above the 4H MLU (upper blue parallel) so I am expecting prices to move back into the sky blue ML and work their way down the H0-1-2MLU (thin lime green line) then down to the H345MLU (thick lime green line).

The count validity values for the various pivot scales are shown.

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