Elliott Wave Counting with EG

Well.... my MT4 platform is not moving. but I can see from my broker which is not on mT4 that gb[jpy has already moved up.

now my dilemna is I can not see the 5 wave impulse formation of this wave 5 up for me to see if it has reached its top.

so I am throwing these charts out so who ever wants to use it can find some use for it.

I still favor a top within the 50% - 38% retracement up. But not that it is possible to be just higher than 23.6%.

This means any time soon for as long as a 5 wave impulse pattern is formed up from the wave 4 in the 1 minute chart, then this could be the top or the end of the wave 4 which is the corrective wave.


EG

My mt4 platform is still not updating. it is stuck at 231.82

My non mt4 broker already shows price at 233.10.

I am wary to trade this as I prefer to trade the SHORT Trade instead of the Long trade for now.

Just looking at the java based platform chart of gbpjpy instead of mt4, it looks like a triangle was formed for the wave 4 and now we are on our way to finishing the wave 5 of this wave c up.

move down to 232.93 to 233.12 looks like a sub wave 4 of the wave 3 up inside this wave 5.

So I will be watching this wave 5 unfold and then place my short trade.

EG

my mt4 is still not updating

currently using fibo group. but I also can not connect to windsor, MIG, and alpari_uk, ibfx and pfg-fx

am I the only one having this problem?

price is now at 233.28 in my non mt4 broker

I still can not decide if this is the top yet. but probably not yet since it still looks like just a wave 3

EG

Usd Chf
Longer-Term Views
----------------------------
Daily Bars ................

( Double click on chart to enlarge )

chart

w4 limit was broken on the previous non mt4 chart.

am trying to see if there was already a completion of the 5 wave impulse of this wave 3 up then a smal wave 4 then wave 5 as reason for this break.

resulting to probably the continued downward movement of price.

EG

with the former wave 1 break for the wave 4 causing my count to be invalid,

attached chart has been modified following EW Rules.

It looks like we are still building up for a bigger wave c up which could have a high probability of hitting TP 2 at the 50% retracement level at 234.38

A harmonic pattern has already formed on the 15m chart with a maximum @ 233.97 which is also close to the Daily 5SMA

234.38 is also previous days HIGH.


EG

Breached again

May have to go back to previous count as what was supposed to be wave c has exceeded 161.8 relationship to wave a.

So looking at considering 233.27 as the top of wave c now.

I would consider as a confirmation for the continued move down if price breaches the secong red line which is supposed to be the End of the revised wave 1

EG

Possibility of a truncated 5th wave

Something I noticed just now.

Coincidence?

1 hour chart shows a precise 161.8% relationship of wave c or 3 to wave a or 1.

1 minute chart also shows the same precise percentage relationship on the current wave structure.

looking at a revised wave count again.

Now seeing a leading diagonal triangle

EG

follow up chart

i have adjusted my EW count again.

Looking for a more suitable count to fit the rules.

EG

sorry . I got delayed posting this because was replying to some posts.


Will reverse the order of presenting charts


EG

Current Update on GBPJPY.

I am looking at a possible retracement toward the Boxed Range for wave 4

Values of projected range using Fib retracement and extention tool in relation to EW.

EG

get ready for the southern move

EG

next potential target for retracement in RED box. otherwise this will continue to go down

a bit wary because of that triangle that formed at the end of that price candlesticks

EG

continuing trend

EG

so bad. got stopped out on a trade.

it went for the 2nd level in the yellow box. or trying to get there toward 235.11

EG

adjusted 1m chart for the breakdown of wave 4

Using fib extention tool for c= a*61.8%

EG