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HARMONIC ELLIOTT WAVE

Thursday, August 25, 2011

The long and winding road… that leads us … nowhere…

Gee, it’s painful. It’s even more boring than reading a book called “The mating habits of cheese mold…” Very plainly the market is awaiting a catalyst. Very plainly there hasn’t been one… But there will be one. When? I don’t know! Actually, I do feel it is imminent, well fairly imminent, but whether it’s this week or next I’m not sure. I just can’t see how the market can avoid a break of the recent range…

Even USDCHF, the slowest moving major currency pair, is closing in on the end of its consolidation and just needs one more dip now before it can extend gains. At the same time GBPUSD dipped lower and confirmed the intermediate high at 1.6618 so that too is due to push higher and should start today but the early stages have potential to be slow to start. EURUSD continues to confound & baffle how it can invent new back flips and triple somersaults without breaking the range… In particular this one is exceptionally complicated.

I think you get the point. It’s tough out there right now. Remember you don’t HAVE to trade. If you are uncertain then go make a cup of tea and watch a Doris Day movie so you can get a good sleep to be ready for the action when it comes. There’s just no point to talking trades because you feel you have to…

Patience … normal service will resume shortly…

Good luck
Ian Copsey

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