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Elliott Wave Trading

  • #3,121
  • Aug 19, 2009 7:31am Aug 19, 2009 7:31am
USDCAD 4-Hour
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  • #3,122
  • Aug 20, 2009 7:28am Aug 20, 2009 7:28am
My AUd/JPy chart.
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  • #3,123
  • Aug 20, 2009 9:35am Aug 20, 2009 9:35am
Price continues to be in the area of bifurcation, but yesterday swung against the American dollar. Perhaps she had already made her choice, but there is no confirmation for any scenario considered.


In such an uncertain situation, better to go along with the price and play from the borders of trend channels to clarify the wave picture.
  • #3,124
  • Aug 20, 2009 1:49pm Aug 20, 2009 1:49pm
This is my view on the next move for EURUSD.

Happy Pippin!
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Collecting pips
  • #3,125
  • Aug 21, 2009 12:57am Aug 21, 2009 12:57am
USDCHF H4, maybe waves + harmonic pattern:
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  • #3,126
  • Aug 21, 2009 2:59am Aug 21, 2009 2:59am
EU H1,
possible ending of 5 wave...:
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  • #3,127
  • Aug 21, 2009 3:52am Aug 21, 2009 3:52am
Good morning all.

I'm long the GBP/USD at 1.6428...When you see my wave count, you'll understand why.

Just to explain the various lines on the chart:

The heavy red lines are Resistence values for the 4H, Daily, Weekly, and Monthly timeframes.

The heavy blue lines (with C = A in between them) is a possible ending point for blue wave ii (if I'm correct).

The thin red lines are the Daily and 4H Tom DeMark profit target values.

The rest are fib. lines and trend channels.

Cheers,
Attached Image (click to enlarge)
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  • #3,128
  • Aug 21, 2009 4:11am Aug 21, 2009 4:11am
A few comments / questions:

 

  1. how do you know that c is not already there on the chart; i can clearly see an a-b-c correction?
  2. why would c = a? the ew cheat sheet for a zigzag correction only says that wC > 0.7*wB and i do not even trust that, almost anything can happen during corrections
  3. i find it very risky to trade against the main pattern, on your chart a down IM. suppose you count is not correct, meaning that correction is already complete, what would save your longs in that case?

well, it might be a good trade after all, who knows ;-)

Quoting 200ema
Good morning all.

I'm long the GBP/USD at 1.6428...When you see my wave count, you'll understand why.

Just to explain the various lines on the chart:

The heavy red lines are Resistence values for the 4H, Daily, Weekly, and Monthly timeframes.

The heavy blue lines (with C = A in between them) is a possible ending point for blue wave ii (if I'm correct).

The thin red lines are the Daily and 4H Tom DeMark profit target values.

The rest are fib. lines and trend channels.

Cheers,
  • #3,129
  • Aug 21, 2009 9:48am Aug 21, 2009 9:48am
Quoting Piglet
A few comments / questions:

 

  1. how do you know that c is not already there on the chart; i can clearly see an a-b-c correction?
  2. why would c = a? the ew cheat sheet for a zigzag correction only says that wC > 0.7*wB and i do not even trust that, almost anything can happen during corrections
  3. i find it very risky to trade against the main pattern, on your chart a down IM. suppose you count is not correct, meaning that correction is already complete, what would save your longs in that case?

well, it might be a good trade after all,...

My view point is that Wave A was 5 up, so that would mean a 5-3-5 correction. If that is the case, it is quite common for wave C to equal wave A.

As always, if you can't see it, don't trust it, or don't like it -- DON'T trade it. I trade what I see.

Trading against a trend is inherently more risky, but I had a wonderful entry point with very little risk...so I took it.

I hope that explains things a little.

Cheers,
  • #3,130
  • Aug 22, 2009 8:52am Aug 22, 2009 8:52am
Quoting magictrader
USDCHF H4, maybe waves + harmonic pattern:
hi Mr,Magic Trader..

If you Following the Harmonic Rule:-Point C is generally the weak link in the pattern. The retracement of A-B to point C could form at any fib ratio, right from 0.382 to 0.886.
Point D is the ultimate confirmation point of a harmonic pattern. ‘D’ will always form at a confluence of 2 fib levels (depending on the type of pattern) and these fib levels are very accurate. The 2 fib ratios (the Retracement of X-A AND the Projection of B-C) form precisely at the expected levels.


as I have seen already .. so The Impulsive 12345 count we can see soon in Usd/chf...
DRAGON-TECHNICAL ANALYSIS!
  • #3,131
  • Aug 22, 2009 11:25am Aug 22, 2009 11:25am
Hi,

now we can have something like this, but similar structure looks better on EU.
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  • #3,132
  • Aug 22, 2009 11:53am Aug 22, 2009 11:53am
Quoting magictrader
Hi,

now we can have something like this, but similar structure looks better on EU.
HI Mr. magic Trader!!


technically Yes!!!

I Just fully Focus some Of My Important Pair!!! and The Usd/chf is not In My List.

The Dollar are weak All The Pair of Mine.. Gbp/usd ,, Eur/usd. Usd/jpy...

And the interesting Thing is that The Higher Percentage of Correlation -87.44 with gbp/usd....-70.45 with EUR/USD....


And the All Pair are Very Bullish that mean The Usd/CHF has To Bearish..


yes .. HAS TO BE!!! because when we Consider the Eur/usd Elliot Count so the 5 Wave is 1.48642 I have Said Aust 1 In DailyFX forum...

So You can see with more conformation By The Corelation and tho The carry trade %.. And the Oposite Level of Eur/usd..
DRAGON-TECHNICAL ANALYSIS!
  • #3,133
  • Aug 22, 2009 7:31pm Aug 22, 2009 7:31pm
Another bullish eurusd look...
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  • #3,134
  • Aug 23, 2009 2:17am Aug 23, 2009 2:17am
Quoting Ilovepippin
Another bullish eurusd look...

Hi Mr. Ilovepipin...

Hello Sir,

Yes It is Bullish As You Mention Sir..


But Do You thing Eur/usd make a Another high..

Little confused Sir I am Just Thinking The Usd Is the weakest Currency Among The All Pair..

And Where The USD is Strong some Countries the Government Want that The USD to be Strengthen With There Currency .

I just have a Past news Of The Singapore and India are the Two Country Those Has the Higherest Rate Of Job Claim thats why they Doesn't want the USD Gonna be Weak.. So they Just Playing particularly To maintain The Back Power to Put the USD Hight to Give Job More with There workers!!!, But On Thursday USD Gross Domestic Product (Annualized) (2Q P) are Good Expectation!!

so I Just Mean Do you think The Current Count Follow On With This Effect Of Just has a Little zigzag and Thats it...

I dont Know Sir you Believe in Delta Thoughts,but it is Bullish with his Next SLTD of the 1.48 .. I mean It Will Continue


Thank you Sir
DRAGON-TECHNICAL ANALYSIS!
  • #3,135
  • Aug 24, 2009 1:33am Aug 24, 2009 1:33am
Nicely formed Impulse waves in Nzd/uSd 15mins chart
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  • #3,136
  • Aug 24, 2009 1:46am Aug 24, 2009 1:46am
HI all,

Attached is the updated chart of Aud/Jpy
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  • #3,137
  • Aug 24, 2009 1:59am Aug 24, 2009 1:59am
Eur/Jpy Daily Chart
Chf/Jpy Daily chart.

I think triangle is forming in both the pairs.
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  • #3,138
  • Aug 24, 2009 2:02am Aug 24, 2009 2:02am
Good Morning all, (Hi BlueBottle)

Here is my current EW count on GBP/USD, and I'm watching the 1.6417 level as well as the 1.6542 level. A break of either of these levels will confirm a count in one direction or the other.
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  • #3,139
  • Aug 24, 2009 3:23am Aug 24, 2009 3:23am
Quoting 200ema
Good Morning all, (Hi BlueBottle)

Here is my current EW count on GBP/USD, and I'm watching the 1.6417 level as well as the 1.6542 level. A break of either of these levels will confirm a count in one direction or the other.

Hi 200ema,

Thanks the gbp/usd chart,

I am following same count as yours.

Here is Eur/Usd H4 chart.
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  • #3,140
  • Aug 24, 2009 3:47am Aug 24, 2009 3:47am
More and more the GBP/USD is looking to be bullish (since there is not much momentum to the downside). We'll have to see if the (i), (ii) count is correct or not. If so, we can start to look at the 61.8% fib as a possible top to blue wave ii.

I'm long at 1.6450 with a few pips in my pocket tonight, so I can't lose anything now....We'll see where it takes us.
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