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Elliot Wave Analysis

  • #441
  • May 30, 2018 1:48pm May 30, 2018 1:48pm
Attached Image (click to enlarge)
Click to Enlarge Name: EU29.png Size: 31 KB
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  • #442
  • May 30, 2018 1:53pm May 30, 2018 1:53pm
If this count is correct. after the retracement, price could reach either a 100% or a 161.8% as shown in the fib expansion on the chart below
Attached Image (click to enlarge)
Click to Enlarge Name: eu30.png Size: 26 KB
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  • #443
  • May 30, 2018 2:12pm May 30, 2018 2:12pm
Quoting MarketNewbie
{quote} Of course. I determine the end of a wave mainly by the pattern. I focus on counting the impulsive waves cause it's much easier to count. The corrective wave are more complicated, so I always have 2 to 3 different counts for them. I don't use fibs a lot though. The most frequent ratio I use are 0.5, 0.618, 1 and 1.618. As of how I figure out the number of 92.61, you can see in my charts below. I have the experience that the corrective wave sometimes ends at the area of wave 2 in the previous impulsive wave. That's how I come up with the number...
Ok......Thanks for the clarification. corrective waves are harder to put a number on as there are many irregularities (even in patterns). i am expecting a shorter abc in weekly, and this could be the start of a major 3rd wave decline on the dollar. your chart shows a longer correction. anyway, for the time being your's is an A wave down and mine is a wave 1 of 3 down. so lets see how it plays out. Another reason is the the cycle. according to me cycle reversal is mid june in us dollar although you mentioned somewhere in september. Lets hope for the best .
thanks for sharing.
STING
  • #444
  • Edited 4:33am May 31, 2018 4:23am | Edited 4:33am
Quoting stringfx
On a shorter time frame, EU has probably done the first wave according to fibs. Now possibly going down for a second wave. will wait for a retracement to at least 50% before buying again small lots until a breakout from the first wave, when bigger lots are possible for a 3rd wave. Here is a smaller TF chart. {image}
Apparently the first wave is not complete yet. I would refrain from selling on corrective waves but would wait until a good move down to buy again smaller lots to catch the third wave. hopefully getting a down move for 2nd wave soon.

low adr is at 1.1630 which would be a good position to take a small buy.
High adr is at 1.1741 which is close to 61.8 (1.1751) marked in the chart. possible to get there as well.
Attached Image (click to enlarge)
Click to Enlarge Name: eu31.png Size: 170 KB
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  • #445
  • May 31, 2018 4:57am May 31, 2018 4:57am
i am hoping this small time frame butterfly would have ended wave 5 of 1 and is chopping on to wave 2.
Attached Image (click to enlarge)
Click to Enlarge Name: eu32.png Size: 54 KB
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  • #446
  • May 31, 2018 6:43am May 31, 2018 6:43am
getting there slowly. need one more down move on a C wave (5 waves) for the correction to complete.
Attached Image (click to enlarge)
Click to Enlarge Name: eu33.png Size: 174 KB
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  • #447
  • May 31, 2018 8:40am May 31, 2018 8:40am
following up on the shprt term EU analysis.

C wave almost complete with 3rd wave down. now expecting a small 38.2 wave up for the 4th wave and then down for 5th wave. i will start buying small from 1.1649 and 1.1636. If it goes down more will add to the buys.
Attached Image (click to enlarge)
Click to Enlarge Name: eu34.png Size: 34 KB
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  • #448
  • May 31, 2018 8:58am May 31, 2018 8:58am
price is at my buy zone.

Attached Image (click to enlarge)
Click to Enlarge Name: eu35.png Size: 41 KB
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  • #449
  • May 31, 2018 4:32pm May 31, 2018 4:32pm
its a buy guys.... i hope !!!!

The correction seems over and its time for the 3rd wave up on this shorter time frame. My TP is 1.1750 which is 161.8 of this move. the chart displayed is self explanatory .
Attached Image (click to enlarge)
Click to Enlarge Name: eu36.png Size: 34 KB
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  • #450
  • Jun 1, 2018 7:38am Jun 1, 2018 7:38am
even after the good figures of nfp and rate of earnings and also unemployment change, not much of a change happened in price, this only proves that the big boys are still buying. it might go a little more down to attract retail to sell. try not to get lured into selling. staying out of the market will be a better choice.
STING
  • #451
  • Jun 1, 2018 12:35pm Jun 1, 2018 12:35pm
Quoting stringfx
even after the good figures of nfp and rate of earnings and also unemployment change, not much of a change happened in price, this only proves that the big boys are still buying. it might go a little more down to attract retail to sell. try not to get lured into selling. staying out of the market will be a better choice.
Couldn't agree more.
  • #452
  • Jun 1, 2018 2:08pm Jun 1, 2018 2:08pm
Hopefully by the end of the day's trading, there will be some profit taking and could push prices up on Eur/usd. The gartley pattern on hourly chart could help with the push up. Once the marked weekly pivot on the below chart is crossed, then would be expecting some move up maybe next week. Hope everyone had a good trading week. will post on monday again. Have a very good weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: eu1.png Size: 54 KB
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  • #453
  • Jun 4, 2018 1:49am Jun 4, 2018 1:49am
Good morning.

There was some good movement to the upside on EU and i am hoping it will continue all the way to FE 100 (1.1831) at least and finally to FE 161.8.
Wave 3 to follow is my expectation and this could be pretty fast upward momentum so crossing my fingers .

Here are a couple of charts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu2.png Size: 35 KB
Click to Enlarge Name: eu3.png Size: 25 KB
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  • #454
  • Jun 4, 2018 5:23am Jun 4, 2018 5:23am
Good move up on EU. as stated before 61.8 could be a temporary resistance as the average daily range high is also close by. so will take half tp there. will buy again if it come down .
Attached Image (click to enlarge)
Click to Enlarge Name: eu4.png Size: 44 KB
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  • #455
  • Jun 4, 2018 11:39am Jun 4, 2018 11:39am
~stringfx
Post with full screen or mention the time frame on the chart. mostly you never telling time frame.
  • #456
  • Jun 4, 2018 12:45pm Jun 4, 2018 12:45pm
I believed DXY is going under the corrective wave 4 as the daily chart below. It started from May 30th. Last time I said it would last for 5-8 days. Now I tend to think that it's gonna last at least for 10-15 days.

The 4hr chart shows how I expect this wave 4 will look like. I also drew a 1 hr chart which shows more detail of how I expect the sub-waves will go. However, as corrective waves are hard to find a specific form of how waves will go, I might need to adjust them later.

P.S. I drew the 4hr and 1hr charts last Friday (June 1st) and sorry I forgot to post them, shouldn't be a big problem though.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Elliot Wave Analysis of DXY_Daily Chart New.png Size: 146 KB
Click to Enlarge Name: DXY 4hr Chart 06012018.png Size: 152 KB
Click to Enlarge Name: Subwaves 06012018.png Size: 130 KB
  • #457
  • Jun 5, 2018 11:33am Jun 5, 2018 11:33am
Thar she blows !!!!!

been expecting this thrust from morning and first tp 1.1780 and a lot more to come .
Attached Image (click to enlarge)
Click to Enlarge Name: eu5.png Size: 49 KB
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  • #458
  • Jun 6, 2018 8:56am Jun 6, 2018 8:56am
All eur/usd tp's hit. will wait for some retracement to buy some more.
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  • #459
  • Jun 6, 2018 9:17am Jun 6, 2018 9:17am
Quoting stringfx
All eur/usd tp's hit. will wait for some retracement to buy some more.
  • #460
  • Jun 6, 2018 11:59am Jun 6, 2018 11:59am
My humble opinion for EU 1 hour is that the 1st major wave looks complete (unless i am wrong). I can count 5 waves upward. If my assumption is true, and my count is correct, then we are expecting a retracement to at least 50% of this move to 1.1652. 2nd waves can go a lot lower but i am hoping it will stop at 4th wave of a lesser degree which coincides with the 50% retracement. so i will start buying small from 38.2%. We can also count smaller degree waves. if this is a normal zig zag correction then we count 5-3-5 waves of lesser degree. I will update these charts when it plays out. here are a couple of charts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu6.png Size: 48 KB
Click to Enlarge Name: eu7.png Size: 47 KB
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