Elliott Wave 5.0 "Reboot"

Monday, February 15, 2016

US Dollar Intraday Bullish Moves Review

I was expecting a rally and with it a good reaction and so far we have not been disappointed. The rally at this time looks like a grade b impulse, and if it is it should travel much further.  At worst the US dollar can still rally and take out every resistance wave until it reaches a new record high. 

The thing is that the US dollar just seemed to come from an "ABC" correction, which usually means a 100% retracement, of the entire "ABC" decline in Minuette degree.  

I would much rather see the US dollar end with a big spike to the upside instead of this pussy rally we are seeing right now. 

I use to be a grader in the forest industry and have graded millions of board feet of cedar and other species of lumber during my stint as a grader, and it is just natural for me to grade the quality of the impulse waves as well.   The difference in quality of waves is also the difference between a diagonal or an impulse and usually when I talk about an impulse I talk about a Grade "A".