Elliott Wave 5.0 "Reboot"

Thursday, December 24, 2015

US Dollar Intraday Crash Update.



So far so good, with this US dollar decline, but in the long run and if my "C" wave decline is still a reality, then we still have a long way to go. At this time I am targeting about the 93-92 price level, which still leaves lots of room for a complete impulse decline.  It also leaves lots of time and room for some unexpected move to the wild side trashing this entire scenario.  What else is new as every trashed wave count should force us to find a new and improved version.   How far back would we go to find a new and improved wave count? As far as we have to and much further than the majority of all wave counters do.  In stocks how many times has EWI reviewed it's 1929-1932 crash wave count?   
I have never seen them try another wave count in the last 30-40 years. 

In my case the US dollar 2008 bottom is the most important bottom at this time, and from it we could be in an ascending type triangle. Don't choke or gag, as how many times have we tried that before, but at a much smaller degree. Others are at a much higher degree that I gave up on years ago. At this time a Cycle degree 4th wave triangle is very viable and we should be or will be closing off a Primary degree "C" wave top. 

I want to stress that I don't think we are at this potential "C" wave yet as we could be heading down to a 4th wave bottom in Minor degree. (93-92). If my first and only wave 1-2 has recently completed then  we have a crazy bearish ride ahead of us.  Only time can help us now, but I think it is safe to say that the US dollar index has made its 2015 high as there is not enough time next week to clear the 100.500 price level again.