Elliott Wave Theory EURUSD 14 Feb 2012 ~ forex day trading strategy

Elliott Wave Theory EURUSD 14 Feb 2012

As a result of today's trading, the European currency in the Asian and European session restored the lost positions on Friday. Price was able to rise to the level of 1.3280, and then back down to 1.32. The wave of the current growth momentum was formed, which gives the right to regard it as the first wave of start connection, in the third wave pulse. Currently, the correction is formed in the second wave, it was 62%. If the assumption is true, the price is not violating the critical level of 1.3155, will continue the upward movement in the third wave. Otherwise, you must go to an alternative scenario with a deeper correction, but not less than another critical level 1.3025. At the moment, it is logical to wait for the formation of a reversal in small FFs and buy euros.