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EURUSD

  • #1,217,881
  • Aug 19, 2022 12:17pm Aug 19, 2022 12:17pm
My patience is approaching its expiration date . . . . .

  • #1,217,882
  • Edited 9:23pm Aug 19, 2022 12:22pm | Edited 9:23pm
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In the sideways market, you can see the correction pattern in accordance with the correction pattern in Elliot Wave
Do not force in pulling the trendline line into a correction pattern (correction pattern) because it will make you fooled by yourself
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In fact HNS, only a sideway
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So don't conclude a correction pattern too quickly
LOGIC = ALL CORRECTION PATTERN = CONTINUATION PATTERN =
The Average Discount Everything
  • #1,217,883
  • Aug 19, 2022 12:56pm Aug 19, 2022 12:56pm
Quoting hesron
{image} {image} {image} In the sideways market, you can see the correction pattern in accordance with the correction pattern in Elliot Wave Do not force in pulling the trendline line into a correction pattern (correction pattern) because it will make you fooled by yourself {image}
Elliott predicted that someone would find a more accurate version of the wave principle. 90 years later it's here. Where does this leave Elliott Wave Institute?
Founder of Sutherland Wave Principle
  • #1,217,884
  • Aug 19, 2022 1:03pm Aug 19, 2022 1:03pm
Quoting suthmo
{quote} Elliott predicted that someone would find a more accurate version of the wave principle. 90 yaers later it's here. What is Elliott Wave Institute going to do now?
My principle in looking at a market theory ... a theory will survive or apply in the market, if there is an institution / big bank that fights for the theory is still valid ... the fact that Elliot's theory is still relevant because the large market actors - big banks still use concepts Elliot Wave .... And the reality of the biggest market actors 100 years ago and that was also present at this time
The Average Discount Everything
  • #1,217,885
  • Aug 19, 2022 1:15pm Aug 19, 2022 1:15pm
Quoting hesron
{quote} My principle in looking at a market theory ... a theory will survive or apply in the market, if there is an institution / big bank that fights for the theory is still valid ... the fact that Elliot's theory is still relevant because the large market actors - big banks still use concepts Elliot Wave .... And the reality of the biggest market actors 100 years ago and that was also present at this time
True they've been established for a long time and their system works regardless of differences with new one. But i like to imagine there could be a radical switch to the new way. Might be in the future 90 yo EWP retires and get archived.
Founder of Sutherland Wave Principle
  • #1,217,886
  • Edited 1:34pm Aug 19, 2022 1:22pm | Edited 1:34pm
Quoting suthmo
{quote}True they've been established for a long time and their system works regardless of differences with new one. But i like to imagine there could be a radical switch to the new way. Might be in the future 90 yo EWP retires and get archived.
Nothing has changed in the market from the past until now and the science of market is also not unclean .... only emotions/behavior PRICE manipulation that develops
The Average Discount Everything
  • #1,217,887
  • Aug 19, 2022 1:40pm Aug 19, 2022 1:40pm
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The Average Discount Everything
  • #1,217,888
  • Aug 19, 2022 1:43pm Aug 19, 2022 1:43pm
Quoting Polimini
This pair has been so consistent that i predict a run for the 0.995, a little bump and then back down to 0.95. That's my plan anyway {image}
Still on track, should continue to go according to plan next week. This was a very good week, apart from a small bump in the road, it all came as i predicted. Risked maybe a bit more then i should but it was a very profitable week.

Happy weekend to everybody and may the pips be with you all
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  • #1,217,889
  • Aug 19, 2022 2:07pm Aug 19, 2022 2:07pm
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Weakness persists....I lowered SLs , as shown . More patience is needed ...

  • #1,217,890
  • Aug 19, 2022 2:44pm Aug 19, 2022 2:44pm
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I am getting increasingly suspicious with its inability to move lower tonight. I will grab all profits now at 1.0038 and see what happens on Monday.

  • #1,217,891
  • Edited 5:07am Aug 20, 2022 12:12am | Edited 5:07am
For free troops like me, video education about Elliot Wave can be download at the link in the text file (14 part video with 16 GB)
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Attached File(s)
File Type: txt Elliott DNA.txt   1 KB | 183 downloads

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If you need MACD LIKE TDI , but no level OBOS
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File Type: ex4 _______TGX___macd_2.ex4   19 KB | 200 downloads

MACD = only tools = not a trading sistem = not a strategy
use indicator like macd only to see momentum if the conditions of price movement are appropriate because MACD can give false signals
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The Average Discount Everything
  • #1,217,892
  • Aug 20, 2022 2:57am Aug 20, 2022 2:57am
EURUSD drop from 1.0369 may stop to rest at the lower demand area, for a test of 1.0203 below the monthly pivot level. My attention will be at the red trendline, but the newly (grey) didn't formed yet, only a new lower low will make it count, but its interesting to look at price action if, it moves around.
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Looking for profitable short term trades ...|
  • #1,217,893
  • Edited 10:04am Aug 20, 2022 5:55am | Edited 10:04am
The decline in the euro against the US dollar occurred since Russia's invasion of Ukraine in February. The euro exchange rate fell to its lowest level in 20 years as surging gas prices and uncertainty around Russia's energy supply fueled fears of a recession in the euro zone.
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FROM TF MONTHLY CHART TO TF H4, IT IS STILL POSSIBLE THIS MONTH THAT THE PRICE WILL RETEST 0.99519 BECAUSE IN TF H4 THERE ALREADY HAD AN UPTHRUST (PRICE MANIPULATION AT THE RELEASE OF USD CPI IS THE TRIGGER FOR THIS DOWNSTREAM CONTINUING) ... although the real target for bears is 0.862 (long term)
The Average Discount Everything
  • #1,217,894
  • Aug 20, 2022 7:55am Aug 20, 2022 7:55am
Quoting suthmo
{quote}US dollar index is re testing the previous high position. If this is a 6th wave then the dollar will enter a new leg down. DX Double top? if this push up/down can't beat the fibs 88%(EUR). If this is a 6th wave it's game over USDX?
The Dollar will not enter a sustained leg down, it will skyrocket and EUR/USD is going under 1.0 towards 0.95. Don't trade against the trend.

The trend for EUR/USD can start to change only when the Ukraine war is over and EU zone economy starts to recover. The FED will continue to raise interest rates. The interest rates will remain high until inflation peaks. This can take at least 2 years.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #1,217,895
  • Aug 20, 2022 8:12am Aug 20, 2022 8:12am
Quoting ForexGoose
{quote} The Dollar will not enter a sustained leg down, it will skyrocket and EUR/USD is going under 1.0 towards 0.95. Don't trade against the trend. The trend for EUR/USD can start to change only when the Ukraine war is over and EU zone economy starts to recover. The FED will continue to raise interest rates. The interest rates will remain high until inflation peaks. This can take at least 2 years.
The trend is still a downtrend and will remain so until last LH is eliminated. Last LH is currently at 1.0320. Trend can be identified very easily on EUR/USD on Daily chart. Price was creating new LH and LL for over a year now. When new LL was identified, price retraced to last LL creating a new LH and so on and on.. I call this a perfect downtrend as it was very easy to trade and anticipate.
  • #1,217,896
  • Aug 20, 2022 8:17am Aug 20, 2022 8:17am
down to 0.997 then up to 1.02
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  • #1,217,897
  • Aug 20, 2022 9:34am Aug 20, 2022 9:34am
Quoting ashur123
down to 0.997 then up to 1.02 {image}
agree

Anyway what is that analysis with those circles? never seen that one before
  • #1,217,898
  • Aug 21, 2022 2:24am Aug 21, 2022 2:24am
You won't be able to find a simple mathematical equation to describe the relationship between market psychology and price... the 50% approach is just as difficult... all just talk about possibility and probability
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The Average Discount Everything
  • #1,217,899
  • Aug 21, 2022 6:41am Aug 21, 2022 6:41am
Next week, it is worth noting the publication of the minutes of the last meeting of the ECB and the price index for personal consumption spending in the US. US personal consumption spending growth is expected to slow down and this could put pressure on the dollar earlier in the week.
IgorFX
  • #1,217,900
  • Aug 21, 2022 7:51am Aug 21, 2022 7:51am
EUR/USD bulls:
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
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