'Market and Human' Psychology perspectives with tips on how to avoid common mistakes by 
Being an Elliottician I am cautious to always look for more than one potential wave structure and count. Elliott is a good tool and ultimately helps greatly however I believe one must be very careful at not being attached to any one expected outcome.
Here are two (and I’m sure there are many other possibilities) potential wave counts on the EUR/USD.
I think the key level to watch is for a break below 1.4682
thank you for the post , but now as we just had 1.4857 as the high for the day and the 1.469/1.4683 is the low for yesterday and today which of the two posts you give higher probability .
regards
Hi JJ.
I have to say that my view is to not be bias in the middle of the range and to wait for a return to or near the old high and or a break below 1.4682
DEAR PIERRE
I think there are some sample EW-rules that can applied for clearer results combine with fibo and indicators.
drop of 5060 to 4682 isnt 5 wave impulse,so its high probable that is correction 61.8% (4480-5060 wiii)@1.47 that i count it minor W4(iv) of an intermediate w5(5)ending diagonal from 1.4042.
we must be aware of more drop for corr.form ZZ to 76% @4620 near EMA55 and longterm uptrendline.
REGARDS
Dear A. Soltani
You make a great argument as to why the recent low may only be a correction.
I do think the drop can be counted as a 5 wave although it’s not a perfect shape, it can be made to fit the model.
It also fits as a wave 4 interpretation. So caution is suggested.
In the same argument the move up from 1.4682 can be counted as either an ABC or a 5 wave advance. Again; both counts fit the model at this time.
I think the low will hold for now and at least an attempt at the old highs will take place.
Cheers
Hi Pierre,
Just to share my thoughts..
All in all…Lookslike the safe trade in EUR for now is going short on Rallies and we could see EUR to 1.45 level in the next week or so before any uptrend continuation and if the uptrend do not occur then we could well see 1.4
Thanks,
Radha
Dear Radha.
I think you’re right in looking for selling opportunities for the next few weeks.