Be careful when using Elliott Wave to predict forex. In my experience of trading it normally is not a good indicator in the forex market. Just my opinion
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DislikedIt would be way way down until my tp target reaches http://www.forexfactory.com/images/icons/icon10.gif
If am correct the wave 5 could be equal length of wave 3 or greater.Ignored
DislikedBe careful when using Elliott Wave to predict forex. In my experience of trading it normally is not a good indicator in the forex market. Just my opinionIgnored
Dislikedthe min of wave 5 is the low of wave 3 althought should go to around 1.5 times wave 4
I may be wrong if so some one correct me havent looked at e-waves in about a yearIgnored
Dislikedi don't necessarily use EW but from my experience moves, no matter the currency, happen in 3 or 5 wave incrimentsIgnored
DislikedI think the problem is defining a "wave" because currencies don't go straight up or down like you said. I've just seen a lot of traders burnt on EW but if you can use it and make money with it that is great.Ignored
Dislikedi totally agree and ellioticians make too many adjustments to justify there opinion, that is why i just look for 3 or 5 "part" moves.[/quo
if you pull up a 4 hr chart it "looks" like a clear 3 moves down and it "looks" like we are in a classic 4th "move" either triangle or sideways channel which is a common EW 4th wave. but again i am just looking. i need a whole lot of confirmation first. i would actually like to see it go to that 38.2% area around 231-232 to buil steam for a poss. long move down.Ignored
Dislikedhay markam i an thinking a revist to 219 area then back up before going down to 210 or do you think it will just barrel right pass and drop stright to 210Ignored
Dislikedhay markam i an thinking a revist to 219 area then back up before going down to 210 or do you think it will just barrel right pass and drop stright to 210Ignored