Thanks EG....Carolyn
- | Joined Sep 2006 | Status: just another tough day in Africa | 204 Posts
Eish!
If you don't fly with the eagles you'll scratch with the turkeys
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DislikedHey AP..
I forgot to ask.... what made you think that Cable will not go past the termination point of Wave 3 and result to a truncated Wave 5?
EGIgnored
DislikedLooking at the channel's narrow range and the fact that 3 was so steep with a spike, but then again anything is possible, looking at it after a decent kiep it looks as though it could sneak past end of 3 and within the channel.....Ignored
DislikedI often find myself going back to Elliot Wave Counting when I embark on analysing Cable Position. I basically trade the Cable so I will focus on this pair for analysis using Elliot Wave Theory.
I do not pretend that I know a lot. But I will attempt to post my EW analysis at least 3 times a week. There used to be a broker with a comprehensive EW Analysis from which I used to refer to. Now that they have stopped this section, I find myself forced to do it on my own.
You are free to point out details which may be discrepant in terms of the original rules. One think I have learned to accept when using EW, it is never always definite. It only provides a potential direction. And it is very important that it is done often to be able to adjust counts if halfway thru the count we discover that it has broken some rules forcing us to adjust the counting.
I will be posting charts with some details on them. I start of with the weekly chart. You will notice that I employ my own sub numbering or labelling to help me identify from where the wave count is based. This is evident on the smaller time frame of 1H.
I try to determine the wave counts on lower time frames when ever possible.
EGIgnored
DislikedGBPJPY
This pair for me has a high chance of really going down.
However, based on the wave formation now as seen on 15m chart, what I thought was going to be a Zigzag may now develop a sideways movement and turn this into a flat corrective wave prior to going down.
For a flat, I would expect price to reach 233 to 234 or a little higher stil but not more than 234.86 to end the corrective Wave.
I will be going out soon so I will not be able to watch my chart.
Outstanding trade is is just the short trade I carried the whole night up towards 234.86. Extended my stop loss... hoping to regain it back when this goes down again..
Probably back around US Open.
I am afraid I will miss that nice move which starts this pairs descent again. So if I can,t have it.... I hope many of you profit from it.
EGIgnored
Dislikednice one buddy
i admire yur effort
i am still a super newbie in forex
From my point of view
Cable can reach these level
1st Target: 2.0164
2nd Target: 2.0177
What do you think bro?
THIS IS NOT A TRADE RECOMMENDATION, JUST AN ANALYSISIgnored
Disliked
If you apply EW Rules by the book...
this upward movement at sunday opening ( 2.0141 ) must not go higher than 2.0152 so as not for this wave 4 up to enter price teritory of wave 1 down.
If this is higher than 2.0152 then my count is wrong.
EGIgnored