This is how I see NZDUSD's movement
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- #1,483
- Jan 7, 2008 3:49am Jan 7, 2008 3:49am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
AUDUSD
Daily and Monthly Pivot @ 0.8745
Weekly Pivot @ 0.8753
An almost tripple top at the 15 min chart is observed.
The way I look at this, if price breaks thru the 3 pivots.... most likely this pair will turn Bullish in the next 2-3 days.
Revising my wave count. Looks like pair is about to start wave 5 of wave 3 down.
EG
Daily and Monthly Pivot @ 0.8745
Weekly Pivot @ 0.8753
An almost tripple top at the 15 min chart is observed.
The way I look at this, if price breaks thru the 3 pivots.... most likely this pair will turn Bullish in the next 2-3 days.
Revising my wave count. Looks like pair is about to start wave 5 of wave 3 down.
EG
- #1,484
- Edited 6:50am Jan 7, 2008 4:38am | Edited 6:50am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
skippping AUDUSD and NZDUSD now as I am stuck with my Long EURUSD.
Unless EURUSD on the 15 min chart goes up for a Zigzag or Flat Wave 2, then I think I can unload my long eurusd and trade the wave 3 down on the 15min chart.
EG
2057 Asia : Update: looks like I will be able to get out of my Long trade soon with what looks like a wave 2 up.
Unless EURUSD on the 15 min chart goes up for a Zigzag or Flat Wave 2, then I think I can unload my long eurusd and trade the wave 3 down on the 15min chart.
EG
2057 Asia : Update: looks like I will be able to get out of my Long trade soon with what looks like a wave 2 up.
- #1,486
- Edited 8:33am Jan 7, 2008 8:09am | Edited 8:33am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
Grega
I think this is wave 2 so I would expect this to go up to 1.4760 before coming down.
*** I just realized that the wave 4 you were referring to is the wave currently developing on the 15min chart. That would fit well with my target of exiting @ 1.4755 then get in for the wave 3 down trade.
I have 2 opposite trades now for a net of -3 pips.
So I can leave trades to run and reach my objective @ 1.4755/60 and let the short trade recover as Wave 3 unfolds.
A resistance though is being tackled at 1.4737 which is now the weekly pivot.
EG
I think this is wave 2 so I would expect this to go up to 1.4760 before coming down.
*** I just realized that the wave 4 you were referring to is the wave currently developing on the 15min chart. That would fit well with my target of exiting @ 1.4755 then get in for the wave 3 down trade.
I have 2 opposite trades now for a net of -3 pips.
So I can leave trades to run and reach my objective @ 1.4755/60 and let the short trade recover as Wave 3 unfolds.
A resistance though is being tackled at 1.4737 which is now the weekly pivot.
EG
- #1,487
- Jan 7, 2008 10:48am Jan 7, 2008 10:48am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
this is how I see EURUSD now
Will be counting 5 waves up for sub wave C of Wave 2.
Potential resistance again at the weekly pivot @ 1.4737
EG
Will be counting 5 waves up for sub wave C of Wave 2.
Potential resistance again at the weekly pivot @ 1.4737
EG
- #1,489
- Jan 7, 2008 11:29am Jan 7, 2008 11:29am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
A Potential Scenario on the GBPUSD similar to what Possibly can be observed with EURUSD.
Triangulated structures have been observed in some EW set-ups. I present this just for the record of recognizing the potential set up.
At times, successive triangulated structures are found first on a lower time frame and afterwhich it plays out will then proceed to develop the same set - up on the next higher time frame.
So let us watch if this GBPUSD plays this out and also the EURUSD.
EG
Triangulated structures have been observed in some EW set-ups. I present this just for the record of recognizing the potential set up.
At times, successive triangulated structures are found first on a lower time frame and afterwhich it plays out will then proceed to develop the same set - up on the next higher time frame.
So let us watch if this GBPUSD plays this out and also the EURUSD.
EG
- #1,491
- Jan 7, 2008 11:51am Jan 7, 2008 11:51am
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
Leading Diagonal 1 or Ending Diagonal 5 for the GBPUSD Proposed triangulated structure.
EG
EG
- #1,492
- Edited 12:16pm Jan 7, 2008 12:01pm | Edited 12:16pm
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
i'm stiil prefer eur/usd alt-2.as long as 4750 didn't break prefer sold. refered to chart alt-2,
i ask you,..EG,referred basic theory fibo/elliot it's need to retrace "lower below 4650-4630 before another leg up (target 1.5)??????
thx,
This alternative wave count and proposed structure may play out what you see on EURUSD.
I have exited my Long EURUSD at BE. Waiting for a better set up for a short or a Long Trade. I have a bias to wait for a Long trade based on this last potential set up under the intertwining of EW and Triangulation.
EG
- #1,493
- Jan 7, 2008 12:15pm Jan 7, 2008 12:15pm
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
hhhhmmmmmm....... still watching EURUSD
Note that Blue wave 4 retraced almost 50% of wave 3
And if we consider the next wave as the 5th wave down, then based on the current structure, we can see that the potential wave 4 Magenta has retraced wave 3 magenta by 38.2%.
This is getting closer to what has been proposed. It is also likely that price does not touch the green downward support trendline. And it may also overshoot or make an underthrow.
Best is to watch and count the waves.
EG
Note that Blue wave 4 retraced almost 50% of wave 3
And if we consider the next wave as the 5th wave down, then based on the current structure, we can see that the potential wave 4 Magenta has retraced wave 3 magenta by 38.2%.
This is getting closer to what has been proposed. It is also likely that price does not touch the green downward support trendline. And it may also overshoot or make an underthrow.
Best is to watch and count the waves.
EG
- #1,494
- Jan 7, 2008 12:33pm Jan 7, 2008 12:33pm
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
I moved the first point for the downward support trendline
and have included the fib extention for the potential wave 5 magenta to show possible meeting at the support trendline
Next is the question on whether proposed bottom at 1.4635 approx. is just end of wave 1 of wave C down or the end of wave C down already and that the potential bounce off that trendline will bring price to toward 1.5000
EG
and have included the fib extention for the potential wave 5 magenta to show possible meeting at the support trendline
Next is the question on whether proposed bottom at 1.4635 approx. is just end of wave 1 of wave C down or the end of wave C down already and that the potential bounce off that trendline will bring price to toward 1.5000
EG
- #1,496
- Jan 7, 2008 2:31pm Jan 7, 2008 2:31pm
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
Potential set up for the week for NZDUSD.
It looks like a wave 2 or a wave 3 of a wave C Up of a bigger a wave 2 UP is developing on the NZDUSD on the 15min chart.
An upward channel has been formed.
EG
It looks like a wave 2 or a wave 3 of a wave C Up of a bigger a wave 2 UP is developing on the NZDUSD on the 15min chart.
An upward channel has been formed.
EG
I moved the first point for the downward support trendline
and have included the fib extention for the potential wave 5 magenta to show possible meeting at the support trendline
Next is the question on whether proposed bottom at 1.4635 approx. is just end of wave 1 of wave C down or the end of wave C down already and that the potential bounce off that trendline will bring price to toward 1.5000
EG
Morning, EG...
refer to alt-c ..if today price close below 4687-4700 start counting w.4 to w.5 down. with target down 4630..
and "if this trenddown occured"and stop at 4630(w.2)..will be trigered next (w.3 or w.5) if 4750 broken...
the question is...will be ECB raise interest???? i think none,for a while/keep rates unchange...(maybe yes..or maybe not
)thanks EG
- #1,499
- Edited 6:25pm Jan 7, 2008 6:14pm | Edited 6:25pm
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
Looking to finish wave 5 of wave C inside Bigger wave 2 UP.
Otherwise, 1st sign of down trend resumption is overlap of wave 4 with wave 1
Followed by breakout to the downside of the channel
EG
...... had to replace charts . most likely not wave iv but wave iii.2
Otherwise, 1st sign of down trend resumption is overlap of wave 4 with wave 1
Followed by breakout to the downside of the channel
EG
...... had to replace charts . most likely not wave iv but wave iii.2
- #1,500
- Jan 7, 2008 6:32pm Jan 7, 2008 6:32pm
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
===
Morning, EG...
refer to alt-c ..if today price close below 4687-4700 start counting w.4 to w.5 down. with target down 4630..
and "if this trenddown occured"and stop at 4630(w.2)..will be trigered next (w.3 or w.5) if 4750 broken...
the question is...will be ECB raise interest???? i think none,for a while/keep rates unchange...(maybe yes..or maybe not
thanks EG
Good morning adji04..
We seem to have the same thoughts on the route for EURUSD price.
However, I have stopped second guessing the news as they often screwed me hard whenever I included possible outcome into my analysis. I just note type of news and when so I can observe the charts and decide/interpret movement based on EW.
EG