On the daily chart of the pair a version of marking of the second and last figure of Double Combination (of December 23, 2007) included into development of «{с} or {iii}» wave with basic cycle of optimization of market data in one week is presented.

Previous week like a foregoing one in spite of bearish advantage continues to support the version of formation of NeoWave Diametric Formation figure because we have not got any confirmative signs of bearish trend beginning even with a week of market data optimization.
Earlier proposed version of NeoWave Triangle development in completive [g]-segment of Diametric is still a variant that does not have considerable confirmations to be chosen as a main one and without contradictions to look for another variant. Hence according to the current situation it is logically to presume the incompletion of rate fall because the requirements by time and amplitude for (D)-wave formation are not fulfilled. We also do not have confirmations of completion of any bearish figure.
In this situation completion of figures of different degree is supported by Neely’s provisions of Exception Rule or the proposed marking should be cardinally revised. This moment may also take place but on the other hand the variants of bullish development are not well-grounded.

Having resumed the above observations there are features of close completion of [g]-wave with [C]-wave of higher degree. Nevertheless with some uncertainty of [g]-wave structure we do not have guiding lines for exact planning of short-term positions.

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With respect,
analytic

Attached Images

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All the rest of that other stuff about other waveforms is due to a rule (not a guideline - A RULE - which means it governs every wave) that even Mr. R.N. Elliott himself did not see. He did not see it and made many convolutions which explained away many difficulties that cropped up due to the lack of this observation.

This new rule makes alternate counts and all those triangle and flat callouts vanish. It simplifies wave counts so much I was able to build a perfect trading system around it. I tell you the truth - it is so simple.

If he had seen this then the EW would be the premier technical analysis which it should have been. Instead you get diagrams like that one (no offense - I can tell a lot of work went into that - been there).

However this discovery was so powerful it led to other discoveries and now the system does not even need wave counts and still achieves 1OO% accuracy. I wish I could personally thank Mr. Elliott!

__________________
Cheers,
Cyclon

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