from March 1 post # 2025
and how price developed
EG
and how price developed
EG
Elliott Wave Counting with EG
- #2,162
- Mar 17, 2008 5:31pm Mar 17, 2008 5:31pm
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
GBPUSD
I hope that all if not many of you considered the charts I posted on #2160 regarding the Possibilities of a 4 hour trendline break and the Daily trendline break.
Price broke out of that 4 hourt support trendline break and bounced a little on the next 4 hour support trendline.
I would expect a further fall and will be watching it hit or touch the Lower median of the Andrews Pitchfork.
If you are not greedy, I would stay away fron this for awhile. Yesterday's fall was not too bad for a Monday eh? Specially for a FOREX Trader
So when counts seem to be a bit unclear for me, I turn to other tools to help me track price. May not always be 100% accurate. But it helps.
EG
I hope that all if not many of you considered the charts I posted on #2160 regarding the Possibilities of a 4 hour trendline break and the Daily trendline break.
Price broke out of that 4 hourt support trendline break and bounced a little on the next 4 hour support trendline.
I would expect a further fall and will be watching it hit or touch the Lower median of the Andrews Pitchfork.
If you are not greedy, I would stay away fron this for awhile. Yesterday's fall was not too bad for a Monday eh? Specially for a FOREX Trader
So when counts seem to be a bit unclear for me, I turn to other tools to help me track price. May not always be 100% accurate. But it helps.
EG
- #2,163
- Mar 17, 2008 5:39pm Mar 17, 2008 5:39pm
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
GBPJPY
w5=w1 was achieved.
A retrace is due . However, further fall is inevitable.
EG
w5=w1 was achieved.
A retrace is due . However, further fall is inevitable.
EG
- #2,164
- Mar 17, 2008 5:48pm Mar 17, 2008 5:48pm
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
I think we are in W2 which, like EG said, is seems to be an irregular flat . The target for C wave could be 2.0105 which is 261.8 of A wave. From this point I'm expecting as W3 to start. Also we have to watch 1.9995 as starting point of W1, If price goes under this point I'm going to relabel charts.
Good luck
Hey pipchaser.
Kindly check again. I just noticed this in your chart.
EG
- #2,165
- Mar 17, 2008 5:50pm Mar 17, 2008 5:50pm
- | Joined Nov 2006 | Status: Trader | 2,021 Posts
IMHO, we are in W5 on GBP/JPY daily. Taking into consideration that W1 started at 241.46 and ended at 220.98 (20.48), W5 started at 213.86. My target for W5 is 193.30-40 (213.86-20.48).
Good luck
Well done. ALL PIPS in the BAG. Better collect and convert now.
EG
- #2,167
- Mar 18, 2008 12:42am Mar 18, 2008 12:42am
Congratulations Pipcather.
Well done. ALL PIPS in the BAG. Better collect and convert now.
EG
I think you have enjoyed too this short ride.
Good luck
- #2,169
- Mar 18, 2008 6:57am Mar 18, 2008 6:57am
IMHO, on H1 TF we are in W4 of W3, which is a triangle correction. The triangle should be complete in the 98 zone and then I'm expecting W35 to start. I'm going to short UJ in 98 area with first target at 95.73.
Good luck
Good luck
- #2,170
- Mar 18, 2008 7:29am Mar 18, 2008 7:29am
Not bad. I agree with your targets. But check the rule of extension. Do you suppose your w35 will be extended? Or may be we have some other configuration on the market. I am worrying that your 33 isnt extended.
Good luck
Hi Serega. Your view is correct. I`m expecting as W5 to be extended and price get lower than 95.73. That's why I said first target. I will closely watch this target.
Good luck
- #2,174
- Mar 21, 2008 1:47am Mar 21, 2008 1:47am
Wave C cant be here 5 waves impuls(posssible terminal) as many guys think, cause we dont have the extended wave(the rule of extension). So if it is not 5 waves C then its 3 waves C (a-b-c). And 3 waves C we can find only in triangles. In neowave there is one kind of new triangles that is called Neutral Triangle in which C wave is the largest segment.
Thanx for comments.
Must admit that lots of my friends either dont believe that it is triangle.
But we can say that it is truth when the market will finish the correction and start for next impuls up
Good luck
Thanx for comments.
Must admit that lots of my friends either dont believe that it is triangle.
But we can say that it is truth when the market will finish the correction and start for next impuls up
Good luck
- #2,176
- Mar 21, 2008 11:38am Mar 21, 2008 11:38am
Wave C cant be here 5 waves impuls(posssible terminal) as many guys think, cause we dont have the extended wave(the rule of extension). So if it is not 5 waves C then its 3 waves C (a-b-c). And 3 waves C we can find only in triangles. In neowave there is one kind of new triangles that is called Neutral Triangle in which C wave is the largest segment.
Thanx for comments.
Must admit that lots of my friends either dont believe that it is triangle.
But we can say that it is truth when the market will finish the correction and start for next impuls up
Good luck
,
Artist lead and hacks ask for a show of hands.
- #2,178
- Mar 22, 2008 2:19am Mar 22, 2008 2:19am
i think "neowave" is also EW but from other school by Glenn Neely...hehe
*
p/s:
satria Neo pun boleh gak tuanku...hik33
Just will see what the market will draw...P.S. краще писати англійською, щоб всі розуміли...
- #2,179
- Mar 24, 2008 10:48am Mar 24, 2008 10:48am
Hello everyone!
It looks like this threath is not so active that used to be..So I am back to post somethink usefull. Well I am trading USD/JPY right casue its very interesting right now, Price just broke out of A-B-C-D-E triangle after HOUSE PRICES report. soo i quickly grab the opportunitty while i was watching cnbc plus and went long... after 25 minutes price already made new high and broke resistances 100,19 and 100,45 which should now stands as very strong supports, and this supports should push price much higher. I labelled my targets on the picture bellow. (usd-jpy chart)
The main reason why I aslo went long is becouse GBP/JPY break trendline resistance which now looks also on upside dirrection with possibillities of zigzag correction which is very simmilar to the correction on USD/JPY.
If you trading a lot GBP/JPY or USD/JPY you must watch this two pairs at the sametime, cause if you are wacthing supports and resistances on both pairs then it should be a lot more easier to recognize the price targets...
Well, the brokethorugh on GBP/JPY was my confirmation, so i went long on USD/JPY when i saw this, cause if price would bonuced from this trendline restinance then we would see price on USD/JPY much lower right now..
Nice trading, Grega
USD_JPY chart
GBP_JPY chart
It looks like this threath is not so active that used to be..So I am back to post somethink usefull. Well I am trading USD/JPY right casue its very interesting right now, Price just broke out of A-B-C-D-E triangle after HOUSE PRICES report. soo i quickly grab the opportunitty while i was watching cnbc plus and went long... after 25 minutes price already made new high and broke resistances 100,19 and 100,45 which should now stands as very strong supports, and this supports should push price much higher. I labelled my targets on the picture bellow. (usd-jpy chart)
The main reason why I aslo went long is becouse GBP/JPY break trendline resistance which now looks also on upside dirrection with possibillities of zigzag correction which is very simmilar to the correction on USD/JPY.
If you trading a lot GBP/JPY or USD/JPY you must watch this two pairs at the sametime, cause if you are wacthing supports and resistances on both pairs then it should be a lot more easier to recognize the price targets...
Well, the brokethorugh on GBP/JPY was my confirmation, so i went long on USD/JPY when i saw this, cause if price would bonuced from this trendline restinance then we would see price on USD/JPY much lower right now..
Nice trading, Grega
USD_JPY chart
GBP_JPY chart
- #2,180
- Edited 8:07pm Mar 24, 2008 7:27pm | Edited 8:07pm
- | Joined Nov 2006 | Status: Trader | 2,021 Posts