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Brand new thread.. Thanks

My chart at AudUsd pair..

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I think we are at crossroads. Until yesterday I expected current highs to be exceeded before going down again. Right now I'd say there are 50-50 chances. The key level I see is 108.7 where there's a lost of confluence, if we clearly break it then I assume the trend has changed and we should see big impulse moves down.

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Same with EURUSD, as much as I'd want it to go down I think the last V wave has ended. Looking at H4 alone it looks like a 3 wave move down, but zooming into H1 we can count it as a 5 wave move down too. True, the proportions of waves 1 and 2 are not the best ones but I think this possibility should be considered too.

All in all things are not clear but if USDJPY heads down with force thourgh 108.7 then I will assume that USD is weakening again and EURUSD has bottomed and this scenario is valid.

Later edit: In the below snag the sub-waves of I...V pattern are not shown (they are in previous posts) only the subwaves of V.

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Hi, I think so now:
1. EDT - ending diagonal triangle or complex ending diagonal triangle in 5th wave.
2. Irregular or triangle in not finished 4th wave

Hi, I think so now:
1. EDT - ending diagonal triangle or complex ending diagonal triangle in 5th wave.
2. Irregular or triangle in not finished 4th wave

Wow, brad looks like the audusd maybe in a flat correction. Does that mean we'll see a Y wave up to 8800?

The area between 1,4780 and 1,48 seems to be quite important.
Especially the actions, which will take place after we have riched this area.
Till now we have formed pretty nice channel. That could be a sign, that correction a-b-c is developing.

So, I'm considering to try it from the short side.
Unfortunately, i don't see any kind of Euro bullish sentiment, which makes me not so confident. Anyway, if there will be a chance to set the good stop level, i'll try it.

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Wow, well done!
I would only take out the top left scenario, as it doesn't feet into the ending diagonal.
The rest is Ok, i'm following also the same counts

Price was strongly rejected by 108.7 and judging by the momentum of thebullish bar that followed I presume that we have big chances to put another top before the fall, as in the original scenario. The key level is the break 109.92.

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FXO, thanks for the 5th wave clarification

Ayobro

My same feelings. Thanks very much FXO, I trully forgot about the ending diagonal! And this is in harmony with the strong rejection of 108.7 on USDJPY.

Dudes, you may want to resize your charts or they will get deleted for being to big.

Hey guys,
Yesterday, I was looking for a top in the Swissie. Since then, I do see 5 down from the top but the decent does not have the look o an impulse so Im little weiry of declaring it a top. Im sticking to my guns here but if we go any higher, I will let my position go and stand until we have clearer direction.

One thing worth mentioning here is correction I have pegged as a double zigzag looks to short in time to be a wave 2. I like to see wave 2s to be at least 62% the time it takes for wave 1s to complete. This one is barely a quarter of the time. Also the pace of wave 2 is way more swift giving it a much more impulsive look. Another indication this probably is not the top.

Here is another possibility for the bear count which should this be a top, I prefer than the later.