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Elliott Wave Trading

  • #2,601
  • Jul 2, 2009 12:31am Jul 2, 2009 12:31am
GBP/USD 1H chart
Attached Image (click to enlarge)
Click to Enlarge Name: 2009-7-2 GU-1H.jpg Size: 86 KB
you have to be out to be in
  • #2,602
  • Jul 2, 2009 12:43am Jul 2, 2009 12:43am
I agree, except your G/U chart is not H1 & needs to update.
  • #2,603
  • Jul 2, 2009 2:23am Jul 2, 2009 2:23am
I'll look to short EURJPY under 135.9.
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #2,604
  • Jul 2, 2009 6:14am Jul 2, 2009 6:14am
Hey guys, it looks like EURGBP did the typical abc and found strong resistance near 0.863, I'll look for shorts now..
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Click to Enlarge Name: eurgbp.gif Size: 17 KB
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #2,605
  • Jul 2, 2009 10:14am Jul 2, 2009 10:14am
Was looking around at CFDs and the first one I stumbled was the Daily IBM. There's nothing more clear than this, a clear impulse followed by a clear 3 wave correction that ended at the typical zigzag level. No complex corrections, no alternative counts, just a bit of common sense to only consider clear wave patterns.

And a thing I observed over the last monthts, many times there is an early warning when the 100% projection will hold (at least partially if not full trend reversal) and that is when the 62% projection shows resistance (or support in a down abc).

P.S. The EURJPY short was activated, hope you guys got some. I will look at this more longer term and will manage it with wide stops.
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #2,606
  • Jul 2, 2009 10:44am Jul 2, 2009 10:44am
"" And a thing I observed over the last months, many times there is an early warning when the 100% projection will hold (at least partially if not full trend reversal) and that is when the 62% projection shows resistance (or support in a down abc). ""

Could you kindly give us an example?
  • #2,607
  • Jul 2, 2009 2:05pm Jul 2, 2009 2:05pm
Quoting Phi
"" And a thing I observed over the last months, many times there is an early warning when the 100% projection will hold (at least partially if not full trend reversal) and that is when the 62% projection shows resistance (or support in a down abc). ""

Could you kindly give us an example?
Sure, check the attached chart, it is GBPCHF Daily. Do you see the resistance at c = 62% of a? That is what I am talking about. If you check the Daily IBM from before you can see the same rejection.
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Click to Enlarge Name: gbpchf.gif Size: 16 KB
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #2,608
  • Jul 2, 2009 2:08pm Jul 2, 2009 2:08pm
Same thing on NZDUSD... am waiting for bullish PA if it reaches 100 level.
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Trading = a mirror to your human flaws. Fix them or be fixed.
  • #2,609
  • Jul 2, 2009 6:24pm Jul 2, 2009 6:24pm
  • #2,610
  • Jul 2, 2009 11:47pm Jul 2, 2009 11:47pm
GU 240
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  • #2,611
  • Jul 3, 2009 1:31am Jul 3, 2009 1:31am
EU_m30:
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  • #2,612
  • Jul 3, 2009 3:44am Jul 3, 2009 3:44am
Quoting magictrader
EU_m30:

good chart magictrader,

I'm preparing for short positions..
  • #2,613
  • Jul 3, 2009 4:19am Jul 3, 2009 4:19am
hi all,

my usdjpy daily chart..

In triangle,wave E may undershoot or overshoot the trend lines more often, so there is a chance of wave E in place already..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdjpy d1.gif Size: 15 KB
Click to Enlarge Name: usdjpy d1_undershoot.gif Size: 15 KB
  • #2,614
  • Jul 3, 2009 4:22am Jul 3, 2009 4:22am
Quoting Blue bottle
good chart magictrader,

I'm preparing for short positions..
What if [c] goes 162% of [a]?
I've prepared for long.
  • #2,615
  • Jul 3, 2009 4:31am Jul 3, 2009 4:31am
Quoting Phi
What if [c] goes 162% of [a]?
I've prepared for long.

hi phi,

I'm planning SHORT trade in 4 hours chart, after the end of wave C and when it breaks the trend lines. See my attached chart..
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  • #2,616
  • Jul 3, 2009 4:35am Jul 3, 2009 4:35am
my gbp/usd m5 chart
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  • #2,617
  • Jul 3, 2009 4:35am Jul 3, 2009 4:35am
So, long position for now is good right?
  • #2,618
  • Jul 3, 2009 4:41am Jul 3, 2009 4:41am
hi phi,

its looks alright for LONG, but i were you i wont trade the corrective waves, i rather wait for end of corrective waves and go SHORT for Wave 3 or C..

Because corrective can be FLAT, Zigzags, Complex and Triangles..So its hard to say which one is forming..

Just my view only.. You trade style may differs..
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  • #2,619
  • Jul 3, 2009 4:57am Jul 3, 2009 4:57am
  • #2,620
  • Jul 3, 2009 8:17am Jul 3, 2009 8:17am
GU looks more clear .

Have a nice weekend.
Attached Image (click to enlarge)
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