Elliott Wave Counting with EG

It looks like Cable formed zero point

everybody
Are we in 3 wave in cable or just a-b-c?

hello Serega... i really hope on zigzag, and continuation to up trend. if we look at your picture then we could see that maybe this could be the possible entry point to go long. But we all now that for this is to soon, we need some confirmation of the market before go long, but this will not be so soon i think.
it seems that market found resistance at 1,9474 at 76,4% of previous wave up. Anyway, before i will do anything stupid, i will wait if price will break upper trend line-that you also have it marked on your picture. this breakout could be around 100-150 pips higher from now.
Anyway, we should also realize that if trend will break low from 7th February, then we should make new counting...
Grega

EURJPY
Weekly chart potentials
- could have finished a 333 running FLAT and now in a wave 3 UP OR
- there is also a potential for a 33333 Symmetrical Triangle although Leg "B" is around 90% of "A". But "C" is around 88% of "B" so it is still within the limits of 62-88% of previous leg Guideline.

1st potential resistance is @ 163.00

GBPJPY
Weekly chart
- move from 241.35 is now in 3 waves down to 204.60
- using the FIB Extention tool as a guide there is still a potential for GBPJPY to come down in the long term for the final wave 5 of what I believe could possibly be a wave C down of the bigger wave 4 on the weekly chart.

Anyway, this 3 wave move from 241.35 down to 204.60 could still be a 123 or an ABC wave structure. However I have a bias for a 123 and that this consolidation we are seeing could either be a sideways triangle or acorrective FLAT wave.

The triangle potential though may be in question as leg "C" is nearly 100% retrace of wave "B".

That leaves me with the corrective FLAT wave option. Initially I am looking at 211.40 as my 1st TP but still looking @ seeing 212.30 with corrections inbetween.

EG

here we gooooooooo

Hey Adrian...

did you attach a chart here? or is my pc playing tricks on me?

EG

Why wouldn't I come in and update in your thread?

:-D

That is your prerogative.

EG

Hi money..

GBPJPY has formed a bigger Zigzag by turning @ 158 and going down again @ 158.75. To me this needs a 5 wave move for C to finish so I would most likely wait till it comes down to 157.5. Will be watching for a 5 wave impulse down.

38.2% retrace is @ 157.39
FE100.0 is @ 157.50

50% retrace @ 156.88
FE 161.8 @ 156.70

EG

Bingo!!!!! Cable reached my profit!!! But it wasnt neither 3 wave nor a-b-c. It looks like a-b-c-x-a
Now I will wait for end of configuration and the point for long cable

My target for C wave swingup is 1.9983 (C=A) next week.
But today, cable may retrace wave (1) of C to 1.9545/1.9500

Have a nice day !

61.8% retrace on the 4hr chart is @ 1.9484
70.7% @ 1.9456

Stochastics on 4hr chart is about ready to cross its signals and come down.

Looks good to me fxdoc.
Welcome to the thread.

EG

update:

sorry about that. I edited above post as I made an error in earlier post. I must have been looking at a different fib

Eur/usd daily

Thank you EG for your Welcome message.

I combine my EWA with pivots and today 's daily pivot is 1.9557
S1 = 1.9475 close to the 61.8% fib.

notes.

usd/cad 30 min. Before canadian retail sales

EURUSD seems bullish still unless it falls below 1.4790 otherwise 1.5040 looks ripe for the picking.

1.4925
1.5010
1.5050

EG

GBPJPY
short term could still see this down to 209.77 down to 209.50
otherwise it can first go up to 213 which is where a 1/2 median line provides a possible resistance for the upward move for GBPJPY.

EG

Here is my GBPUSD view

Daily Chart
If you do EW, then you can use this to count 5 waves UP and project end of wave C UP of wave 4 Corrective FLAT wave ABC.

EG