Elliott Wave Counting with EG

Revised EW Count

EG

I think 54 needs to expand
SO I expect it to visit near yesterdays's low or lower .
But not lower than 31 @ 237.04 to complete the sub wave c of this expanding wave 34. Magenta Box

Although, you will notice that there is already a 5 pip violation here as wave 34 yellow went lower than wave 31 yellow 237.04 and the sub wave a of wave 34 yellow went to 236.99

follow up post 557.
slowly but surely !!!

Afternoon squires, nice thread.
My eurusd wave counting chart... might be attached... if I have done it right...

Hi Jake,

have mostly the same count. Waiting for the downmove.

Regards

nice chart jackspade
but there is only 1 problem.
as it look's ?! your w:4 will terminates in 1.3828
and that is in side the territory of w:1 (mark in red )

Hi surfer76 & ronnimar.

I meant for the current 'c' wave to have a target of the 50% fibonacci, which is also the level where the previous 'iv' wave stopped, and also where the top of 'I' stopped - although it does go inside a little bit you are right ronnimar so maybe have target inbetween 38.2 & 50.0

Im not sure about the bigger waves (I II III IV V) to be honest, more focused on the smaller waves (i ii iii iv v).

Hi,

i try to use ew not to rigid. In my first attempts i stayed hard by the theory.

But after gaining some experience in this area i try to handle this rule flexible. From my point of view it is only a guideline and not a strict rule. In very few situations you can see an ideal ew-pattern.

That´s the reason why i use Fibo´s and PF. EW is only one of three components. If we go down, than the task is to find a good ew count in lower TF to indicate the end.

Hope you can understand my thoughts.

Regards

Based on my EW Count, GBPJPY seem to have just finished wave 1 and wave 2 of the Bigger wave C inside Big wave B of wave 4.

Attached charts show where I think this pair is at.

EG

wave 2 of wave c down

Attaching new chart to show expansion of b wave

Targetting 239.85 FE 100.0 to have at least C=A in a Zigzag B wave. It could go as high as 240.42 at the FE 161.8 level.

Then I would expect it to go down for the wave c to complete the wave 2 retracement inside bigger wave 3 up.

EG

Lower than 237.40 Invalidated my EW Count in GBPJPY.]

EG

We may have seen the top of Big Wave B @ 240.66

I am attaching a chart which I see as having conformed with EW Rules to complete a 5 wave structure sub wave c inside the big wave B UP.

This means that this pair is heading south and the move from 235.74 going up now @ 238.41 is a retracement of a subwave 1 down of the Big QWave C down. Retracement is wave 2 up and may go as high as 240.66 @ 100% retracement.

If price goes higher than 240.66..... this means that we are now on Wave 3 UP inside the sub wave c up of the big wave B UP.

EG

my analysis on gbp/usd, and i think that gbp will go higher.
Nice day!!


4h_chart

http://www.trading-fx.si/forum/priva...nHunter_09.gif

1h_chart

http://www.trading-fx.si/forum/priva...nHunter_10.gif

Hey money....

Thank you for posting your EW Charts here.

EG

my current Count

EG

GBPJPY Comments

Daily - we can see that price has breached that daily trend line which to me indicates a higher probability of a downward move on the daily.

5m - I am looking at a retracement up going towards the 38.2% of yellow wave 3 towards the area/ level where the daily trendline is also. Expecting this to be the new resistance level.

But still possible for price to just reach towards the 23.6% level at 235.83 and proceed down .

EG

another chart

ending diagonal triangle?

revised chart

more charts for potential moves