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Elliott Wave Counting with EG

  • #881
  • Edited 9:28am Oct 29, 2007 9:08am | Edited 9:28am
My limit of 235.85 to maintain a bearish bias in the long term has been invalidated with the attainment of 236.76.

I can not have a 1234 count now from the high of 240.66 which initially was my end of wave c equivalent to Point 0 of wave 1 down for C wave Down because wave 4 has entered price territory of wave 2 ( by reaching 236.76 )

This would therefore indicate that gbpjpy is back on the uptrend. I would not think of this as just a continuation of a wave c inside Big wave B as end of wave c inside this Big wave B will get too high.

So I would consider the move from 219.31 as end of wave 34 and the beginning of wave 35 and wave 351.

Chances are the carry trades is currently underway in the long run.

But we may be in on a small retracement on the 1 hr chart.

EG
Attached Image(s) (click to enlarge)
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  • #882
  • Oct 29, 2007 9:46am Oct 29, 2007 9:46am
went long
@ 236.20 and
@ 236.00 then letting it run till end of wave 35 @ range of FE 176.4 to 200.0 @ 237.45 to 237.99

EG
  • #883
  • Oct 29, 2007 10:23am Oct 29, 2007 10:23am
Quoting el grande
went long
@ 236.20 and
@ 236.00 then letting it run till end of wave 35 @ range of FE 176.4 to 200.0 @ 237.45 to 237.99

EG

Getting sleepy now. exited trade from 236.0 for a 19 pip gain after paying 18 pip spread. Not that bad for less than an hour's work.

Not a very good R/R ratio but none the less a Gain. But leaving the other trade running.

EG

above trades are on live account. trades on demo will leave running
  • #884
  • Oct 29, 2007 12:13pm Oct 29, 2007 12:13pm
See chart below............let me know wats wrong with count
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ew month1.gif Size: 12 KB
Click to Enlarge Name: ew month 2.gif Size: 16 KB
"Trade for sake of trading & not for winning or Lossing"
  • #885
  • Oct 29, 2007 12:20pm Oct 29, 2007 12:20pm
Quoting HonaForex
See chart below............let me know wats wrong with count
Hey

I do not think your wave 3 red is valid because your wave 4 will definitely land in wave 2 terrritory.

May I ask what your basis is for using WXY?

EG
  • #886
  • Oct 29, 2007 12:21pm Oct 29, 2007 12:21pm
We r in wave 5 as seen in monthly chart & also see weekly Zoom
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: ew weekly 2.gif Size: 16 KB
"Trade for sake of trading & not for winning or Lossing"
  • #887
  • Oct 29, 2007 12:27pm Oct 29, 2007 12:27pm
Proposed direction / route of GBPJPY.

So expecting GBPJPY to get to 235.51 then from there continue its move going North toward 238.00

EG
Attached Image (click to enlarge)
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  • #888
  • Oct 29, 2007 12:37pm Oct 29, 2007 12:37pm
see chart.........poor in typing
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: ew 4 r 02.gif Size: 14 KB
"Trade for sake of trading & not for winning or Lossing"
  • #889
  • Oct 29, 2007 12:40pm Oct 29, 2007 12:40pm
adjusted percentage
Attached Image (click to enlarge)
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  • #890
  • Oct 29, 2007 12:50pm Oct 29, 2007 12:50pm
Hona....

I initially thought about playing out a triangle in wave 2.

However, Triangles are rarely seen in wave 2 and besides A C and E did not line up properly.

So I opted for a complex wave .

EG
Attached Image (click to enlarge)
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  • #891
  • Oct 29, 2007 12:52pm Oct 29, 2007 12:52pm
[quote=el grande;1686009]Hey

I do not think your wave 3 red is valid because your wave 4 will definitely land in wave 2 terrritory.
we r in wave 5 of wave 3............

May I ask what your basis is for using WXY?
wave a (red) is in 3 waves & later we have 5 waves & 5 waves in down direction,which i labled WXY
"Trade for sake of trading & not for winning or Lossing"
  • #892
  • Edited 1:22pm Oct 29, 2007 1:02pm | Edited 1:22pm
labelling waves expected to be expanding

replacing or adding chart to show current development

****update. looks like developing into a flat instead of an irregular flat or expanding flat.

EG
Attached Image(s) (click to enlarge)
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  • #893
  • Oct 29, 2007 1:05pm Oct 29, 2007 1:05pm
Quoting el grande
Hona....

I initially thought about playing out a triangle in wave 2.

However, Triangles are rarely seen in wave 2 and besides A C and E did not line up properly.

So I opted for a complex wave .

EG
Yes triangle r rear in wave 2 but it can fold , & its horizontal triangle where wave e overshoot trendline of wave a & c & comes in line of wave c.......tats wat i read in some e book
"Trade for sake of trading & not for winning or Lossing"
  • #894
  • Oct 29, 2007 1:24pm Oct 29, 2007 1:24pm
Quoting HonaForex
Yes triangle r rear in wave 2 but it can fold , & its horizontal triangle where wave e overshoot trendline of wave a & c & comes in line of wave c.......tats wat i read in some e book

ok. noted your point. Then here is where we have our count differences.

Just hold on to your count. You could be right on this one.

Thank you for providing your charts here.

EG
  • #895
  • Oct 29, 2007 1:41pm Oct 29, 2007 1:41pm
Quoting el grande
ok. noted your point. Then here is where we have our count differences.

Just hold on to your count. You could be right on this one.

Thank you for providing your charts here.

EG
Sorry to say ur chart r not clear bocs not able to see price or timeframe & on top u have lot fibos...............it will be nice of U if correct it IMO


Shivaji
"Trade for sake of trading & not for winning or Lossing"
  • #896
  • Oct 29, 2007 1:44pm Oct 29, 2007 1:44pm
getting ready to enter my Long Trade.

1st entry @ 235.71 . This couild just be a wave 3 so a retrace going up is possible before going back down towards 235.46 for possible wave 5 end of this wave c down.

SL set at 235.34 which is 1 pip lower than the end of wave 1.

But it is also p[ossible that lowest that this pair will attain prior to an uptrend may just be at 235.71

EG
Attached Image (click to enlarge)
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  • #897
  • Oct 29, 2007 2:00pm Oct 29, 2007 2:00pm
Quoting el grande
getting ready to enter my Long Trade.

1st entry @ 235.71 . This couild just be a wave 3 so a retrace going up is possible before going back down towards 235.46 for possible wave 5 end of this wave c down.

SL set at 235.34 which is 1 pip lower than the end of wave 1.

But it is also p[ossible that lowest that this pair will attain prior to an uptrend may just be at 235.71

EG
Wat r u showing is 1 min chart,tats where i m confusing bcos i seeing at higher time frame...............well before i use to trade at 1 min chart but i believe Elliot wave should not be traded less than 60 min time frame....IMO
"Trade for sake of trading & not for winning or Lossing"
  • #898
  • Oct 29, 2007 2:01pm Oct 29, 2007 2:01pm
get ready
Attached Image (click to enlarge)
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  • #899
  • Oct 29, 2007 2:30pm Oct 29, 2007 2:30pm
expanded flat or irregular flat may be developing after all.

My bad. I have to learn to spot wave size proportion.

So it can still go up to 236.98 and then come down to 235.46

EG
Attached Image (click to enlarge)
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  • #900
  • Oct 29, 2007 2:32pm Oct 29, 2007 2:32pm
Gbp/Usd : Chart Update


Price has stabilized again , .........
Still there's no break below 2.0740
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Attached Image (click to enlarge)
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