The Review of the Bigger Time-Frames(2-nd half of 2008)

In this article I tried to synchronize the supposed price movement of the currency pairs under consideration. Only one of a great number of possible scenarios is given here, but it is the most probable from my point of view at the moment.

1. EUR/USD and USD/CHF

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The wave construction on the monthly chart of CHF may be classified as a global downward diagonal triangle (or a triple zigzag). If this is the case the price might break the lower generating line of the diagonal triangle. The area of possible projected values is plotted on the chart.

As the charts of EUR/USD up the year 1998 are synthesized it is logical to accept the mirrorlike pattern of CHF for this currency pair.

Supposedly at the moment the ending wave V of the global diagonal triangle is developing.

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Supposedly wave 4 of (3) of [C] which has approached the limited mark at 50% for the fourth waves of impulse is completing.

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EUR like a twin brother reflects mirrorlikely movements of CHF. Supposedly wave 4 of (3) of [C] which has approached the limited mark of 50% for the fourth waves of impulse is completing.

A reversal of the price against the US dollar in the nearest 10 days and breach of confirmatory levels will be the confirmation of this scenario.

2. GBP/USD

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The recent deep decline of the pound and the breach of the critical level (refer to Figure 9 in the article The Review of the Bigger Time-Frames (II-nd quarter of 2008)) allow to consider the downward price movement as wave 2 of (C) of [Y] (refer to Figure i8 in The Review of Bigger Time-Frames (Annual Wave Analysis 2008)).

Possible projected values of the terminus of the supposed wave [Y] of x are plotted on the chart.

A reversal of the price against the US dollar in the nearest 10 days and then the breach of the confirmatory level will be the confirmation of this scenario.

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Wave 2 itself supposedly has assumed the shape of a zigzag with approximately equal in length legs demonstrating the guideline of alternation for zigzags (refer to page 140 of my book).

Wave [b] of 2 supposedly is a truncated triangle.

Note. In the terminology of R. Prechter triangles with three main waves or with disproportionately small ending waves (d) and (e) are called truncated triangles.

3. USD/JPY

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The wave construction on the monthly chart of the yen may be classified as a global downward impulse the ending wave of which is assuming the shape of a diagonal triangle. The area of possible projected values is plotted on the chart.

If price passes the confirmatory level it will be the confirmation of this scenario.

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At the moment the wave counting doesn’t rule out that wave [2] is completed in the form of a triple zigzag. But this supposition requires confirmation.

Note

Given possible trading plans are purely informational purpose only and they should not be considered as trading guides or an invitation to make a transaction.