Elliott Wave Counting with EG

Usd/chf possible count. As for me we are at the end of correcti. I expect on another move down. But we should be careful, because if the high 1.0600 will be broken, tha pair can rush up

Looking on cable...

Euro/usd and gbp/jpy

Adjusting count for usdjpy

Daily Charts for Cable

Note that this is just a follow thru of previous meduim term forecast for GBPUSD.

If you will check previous charts on Daily and weekly forecast, I have explained there that I am looking for a C wave Up to complete a the Big B wave of a FLAT or Irregular Flat which could potentially end at least at 90% of the Big wave A ( 90% @ 2.0975 ) or at the most towards the 132% of Big wave A @ 2.1861.

Rememebr that the Path to the wave's end is not direct. Completion could take weeks or months while Cable whipsaws price as it works its way Up.

EG

Below is the original chart to trace history of above analysis and charts.

Followed by what seems to be happening on the lower timeframes.

EG

hi eg,
Just found ure thread.I also wanna learn EW from u.Still beginner in EW. Hope i can have informative resource from this thread.

Thanks

http://www.dailyfx.com/story/special...814189581.html


is the above report correct?

http://www.forexfactory.com/images/misc/progress.gif

Potential Micro EW Count for Cable

Initially, I was thinking there could be a possible reversal now for Cable ( short term ) considering that a Possible Bearish Harmonic Pattern can be seen on the 5minute and 1minute charts.

To top it off, a possible multiple resistance is seen on the 1 minute chart

But trying to use MACD to help discern possible wave divisions and using Divergence to further validate wave turns, then I also realived a possible ending diagonal triangle wave 5 in the offing.....

I am now inclined to have a bias towards a small further push UP from the multiple resistancefor the final wave 5 which would then complete the ending diagonal triangle or still have that possible throwover...

Afterwhich Cable may be seen to retrace its way down towards first the base of that ending diagonal triangle which is near the lev el of 38.2% of the whole climb from Friday.

other possible retracement levels are 50% @ 1.9755 and 61.8% @ 1.9738.(usual). But we have to remember that Cable is most likely in a wave 3 of a higher degree wave C which normally exhibits a strong urge of getting back on the trend without the usual 61.8% retracement. And most likely it would only retrace by 38.2% and this somehow coincides with the usual characteristics of price which just underwent an ending Diagonal triangle where Price would normally retrace towards the base of that ending diagonal triangle.


These are all probabilities. you need to have other factors to convince yourself that this is what is actually going to happen.

EG

PS.

ffujifilm..... Welcome to the thread. I cannot offer resources to learn from here except to lead you to the url of www.elliottwave.com

gbpjpy n eurjpy

Note following levels if breached

1.9683 warning
1.9673 ew count is invalidated

Retracement for w2 went deeper than I expected. therefore it cannot be wave 2 anymore because it has gone lower than the wave 31 origin I had initially labelled.

if you were not greedy after seeing the potential ending diagonal triangle on the 5min chart then a short trade as the market opened would have put you in a lot of profit now.

Price seems to be looking for more downside movement now.

EG

PS....if the downside movement proceeds to breach the levels enumerated above, then I would look at the 50-61.8% retrace from the lower level @ 1.9364

these would be
FE 100 @ 1.9636
FE 161.8 @ 1.9529 which incidentally also falls near a median line on the 4hour chart plus this is also at the 61.8% retrace (1.9548)

Bulls will have to give in to the bears for now so the bears can join the Bulls to 2.0000+

GBPUSD daily and DOW 1 hour

Still lots of possibilities out there for USDJPY. Here's what I see so far. I'm not going to rule out a rally to 107 though. It's been in my head for awhile.

Cable

"PS....if the downside movement proceeds to breach the levels enumerated above, then I would look at the 50-61.8% retrace from the lower level @ 1.9364

these would be
FE 100 @ 1.9636
FE 161.8 @ 1.9529 which incidentally also falls near a median line on the 4hour chart plus this is also at the 61.8% retrace (1.9548)

Bulls will have to give in to the bears for now so the bears can join the Bulls to 2.0000+"

Above is from an earlier post...

Based 0n EW , Cable has hit 61.8% retracement @ 1.9548

1. 1.9535 has been achieved as of London session
2. There is a Bullish Harmonic Pattern on the 4hour and 1hour charts with a range End of 1.9577 - 1.9470
3. I am missing Divergence on the 15 minute chart to signal a return to the UPTREND

for now, my Cable Long Trades are under a drawdown 8 in all. Out of the 3 long term short trades I have nursed for almost 2 months, have exited 1st for a 4 pip loss while the 2nd which was relieved today was out for +3. Now I still have 1 remaining Short trade which I hope to relieve come US session.


GBPJPY....

1 more DIP lower than 204.53 to complete the Divergence on 15min chart for this correction to the UPTREND

Bullish Harmonic Pattern on the 15min, 30min and 1hr charts down to 204.39
Lacking Divergence on 1hr, 30min, 15min and 5min charts

@2209 PHI Cable
Divergence on the 15min chart right b4 news. waiting for 5min and 1min Divergence

GBPJPY is definitely showing a sign to the down size, unfortunately we don't know when it will start falling.

http://img104.imageshack.us/img104/7...pyjune4lk3.gif

hallo traders..
ive attached a daily chart of the eur/jpy where we can see its in a rising wedge formation.we all its a trend reversal setup. you can see ive got 4 legs in the wedge and we looking for the final leg to 5 . can anyone help me out with the elliot wave formula,where possible leg 5 will be. can you also tell me how do you work the final leg out.

anyone one want to help the final leg target before trend revers?

Zwieg, to honest, i dont see prices so low at this time, esspeccialy if I have right about possiblle correction structure named FLAT with 3-3-5 subwaves. Now are more actual long positions, cause resistance line from July 07, has been broken, and in many cases prices retraces to this line, which should become support now. So i see very good opportunity to hold long position after pullaback to 164,00-164,00 zone. Look the picture.. See you, Grega.

ok mmoney,ive seen what you mean, a bit dissapointed in this pair ,wait so long for this pair to tumble to the south,but it seem its not gonna happen,thnx for youre reply

Hi EG or anyone,
If u have time just comment my counting...is it valid?