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- Gray replied Feb 1, 2013
No problem my friend. I guess the purpose of the chart was to open forum participants minds to other possibilities other than the bullish one. If we see a impulsive decline this could be a possibility. Do I think it is likely?? Not really at ...
- Gray replied Feb 1, 2013
Not sure I follow what you mean. Here is a reduced view of the same chart. I have wave 1 as a LD with wave 3 ending just above the 1.618 extension of 1. I am proposing that wave 4 may not have ended yet and we may see a impulsive pullback in wave c ...
- Gray replied Feb 1, 2013
GBP/JPY expanded flat wave 4 scenario http://ow.ly/i/1sbV5/original
- Gray replied Jan 31, 2013
Posted by Gray EJ short term wave count keeping in mind we may extend Count some waves guys..dont guess. You have the answer now
- Gray replied Jan 31, 2013
A diagonal would also mean a very hard sell off too the 117.00 area when we do finally reach a top
- Gray replied Jan 31, 2013
Looks good. RSI supports it at the moment too
- Gray replied Jan 31, 2013
Looking for a diagonal on 1hr Luis?
- Gray replied Jan 31, 2013
I don't think we are finished to the upside yet on EJ. I see no divergence yet. Also have a look at UJ. We have only just hit the 100% extension of the first move up from 90.31. Looks like more upside to come to me
- Gray replied Jan 30, 2013
Geez...you got me again while I was updating the chart!
- Gray replied Jan 30, 2013
This is still valid. Check out where the spike found support....
- Gray replied Jan 30, 2013
Its possible. Look at the waves. My count may not be right at all but look at price action. It looks to have just entered an impulse up don't you think? The angle of price action is very steep like possibly a wave 3? We also show no RSI divergence ...
- Gray replied Jan 30, 2013
EJ short term wave count keeping in mind we may extend Count some waves guys..dont guess....
- Gray replied Jan 30, 2013
Thats right. Let price action guide us not something you THINK it is going to do....
- Gray replied Jan 30, 2013
Really? looks like 3 waves down from the new high so far. That means upside not finished yet
- Gray replied Jan 28, 2013
No, not at all. In fact a truncated fifth wave is very possible considering the very steep rapid rise in price action on some of the JPY crosses. Truncated fifths happen when price action has gone "too far too fast".... just like the JPY pairs....
- Gray replied Jan 25, 2013
Weather the count is likely is a different matter. X waves are corrective three wave structures. Does it look corrective ? It may have three waves at the moment but is very steep in nature more like an unfinished impulse possibly ? It also has a ...
- Gray replied Jan 25, 2013
No, It does not look completely wrong to me. As long as the EW rules are adhered too it remains a valid count. Elliottt Wave is all about possibilities and your chart is one. Can you count 3 waves in you X wave? Yes? then its valid and deserves ...
- Gray replied Jan 25, 2013
No not at all...I know exactly what you meant....just following along blindly they are like you said earlier.