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Elliott Wave Trading

  • #3,721
  • Dec 2, 2009 3:17am Dec 2, 2009 3:17am
EU H4:
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  • #3,722
  • Dec 2, 2009 5:33am Dec 2, 2009 5:33am
Eur/Usd m30 chart..
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  • #3,723
  • Dec 2, 2009 7:57am Dec 2, 2009 7:57am
Hi guys

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-----------------

forecasting corrective wave
  • #3,724
  • Dec 2, 2009 7:20pm Dec 2, 2009 7:20pm
Gold Weekly
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  • #3,725
  • Dec 2, 2009 9:40pm Dec 2, 2009 9:40pm
Quoting shahab8b
Gold Weekly
Correction can be, But Bull Are there for sure!!!

http://i46.tinypic.com/2d75ued.png


http://i49.tinypic.com/30loxes.jpg

http://i47.tinypic.com/ip71jl.png
DRAGON-TECHNICAL ANALYSIS!
  • #3,726
  • Dec 2, 2009 10:14pm Dec 2, 2009 10:14pm
Looks like the Dow has one more up day to me. I wouldn't be surprised to see a top made on Thursday, 12/3/2009. Unemployment numbers are due out in the morning.

If we break through the top trendline and extend up then I'll have to re-evaluate my count. Until then.... I'm trading the Dow down.

It's interesting how the Dow, Euro, Aussie and others appear to be reversing at the same time the US Dollar appears to be bottoming.
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  • #3,727
  • Dec 2, 2009 11:20pm Dec 2, 2009 11:20pm
Looks like Gold is forming a flat. Wave B looks to be really extended in the frenzy. I suspect the fall will be just as fast and furious. Should coincide with a US Dollar reversal.

Notice how the weekly chart sports a triangle. Triangles always preceed the last move. That means a fall is eminent.
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  • #3,728
  • Dec 3, 2009 3:40am Dec 3, 2009 3:40am
Eur/Usd H1
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  • #3,729
  • Dec 3, 2009 3:48am Dec 3, 2009 3:48am
I agree with one more up night i am looking at the same scenario. S&P 1126-28, then down for the next 2 months.
  • #3,730
  • Edited 10:38am Dec 3, 2009 10:16am | Edited 10:38am
Now looks like complete pattern...

And also this could be three drives pattern from HT
http://www.harmonictrader.com/price_patterns3d.htm
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  • #3,731
  • Dec 3, 2009 11:05am Dec 3, 2009 11:05am
Quoting magictrader
Now looks like complete pattern...

And also this could be three drives pattern from HT
http://www.harmonictrader.com/price_patterns3d.htm

The higher level charts show that this entire move up should be a 3 wave count (wave C of a diagonal triangle on a daily chart). If my count is correct then what you have labeled as wave 'II' would actually be wave 'B'. Based upon the current pattern, I'm expecting a double zigzag up to the top of the trendline on the daily chart. I see the W and the X legs. Looks like the Y leg is in process. That would put the final leg up to around 1.5170ish.

Of course, my analysis is that we are in a diagonal triangle on the daily chart. If that analysis is wrong then my analysis above will probably be wrong. We shall see. I'll try to get a diagram posted with what I see soon.
  • #3,732
  • Dec 3, 2009 12:03pm Dec 3, 2009 12:03pm
Quoting magictrader
Now looks like complete pattern...

And also this could be three drives pattern from HT
http://www.harmonictrader.com/price_patterns3d.htm

Here is my count on a 4hr chart. Looks like a series of 3 wave sets. That screams diagonal triangle to me being it's the 5th wave on the daily chart. My only concern with my count is wave 'B'. It looks like a 3 count. If it's a 5 count then wave 'B' is not done and price should drop to the lower trendline from here in another 5 wave set. It would also extend the triangle in time. However, I'm going with what I have labeled until I see otherwise.
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  • #3,733
  • Dec 3, 2009 10:12pm Dec 3, 2009 10:12pm
Here are (2) 4hr charts for the Dow. I've zoomed in to just show the last wave.

I see 2 potential options for the Dow right now. Both are listed below. Given the fact that the EURUSD looks to be in a 5th wave diagonal triangle, it's possible the Dow will also take the same shape. Either way, I won't trade long unless we breakout and move much higher.

One thing to note. Wave 4 looks to be almost a perfect flat (3-3-5). Wave 5 has met all of the objectives. It made a new high and has 5 waves, albeit wave 1 is longer than normal and wave 5 is less than textbook. Friday's trading should be telling.
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  • #3,734
  • Dec 4, 2009 12:58am Dec 4, 2009 12:58am
GBPUSD H1 !!!
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  • #3,735
  • Dec 4, 2009 12:58am Dec 4, 2009 12:58am
I like nbr 2 more. There is a resistance level round 10650, so ending diagonal would suit to that well.

What is your big count like? I see this wave ends with "2", which forecasts a new low for the dow, right?

Quoting ewt_guy
Here are (2) 4hr charts for the Dow....
  • #3,736
  • Dec 4, 2009 1:20am Dec 4, 2009 1:20am
Hi wavers. Can you count the pair USD/CAD. I am interested in Daily, 4H, 1H charts? Mega Trader I like your counts. It looks like you use waves for trading but not for analysis.))))))))
  • #3,737
  • Dec 4, 2009 5:26am Dec 4, 2009 5:26am
Quoting Mega Trader
GBPUSD H1 !!!
Keep in mind that wave 4 cannot overlap wave 1. This is one of cardinal rules of EWT.
  • #3,738
  • Dec 4, 2009 5:30am Dec 4, 2009 5:30am
Quoting Rocroy
I like nbr 2 more. There is a resistance level round 10650, so ending diagonal would suit to that well.

What is your big count like? I see this wave ends with "2", which forecasts a new low for the dow, right?
Yes. My count has this primary wave 2 of C ending with primary wave 3 down forth-coming. It should dissapoint a lot of economic forcasters who are calling for the recession to be over.
  • #3,739
  • Dec 4, 2009 5:41am Dec 4, 2009 5:41am
There are some bad signs in the air, I agree. When cheap money no longer exists, it will definitively affect shares. Hopefully the whole global banking system does not crash. See for instance this.

Quoting ewt_guy
Yes. My count has this primary wave 2 of C ending with primary wave 3 down forth-coming. It should dissapoint a lot of economic forcasters who are calling for the recession to be over.
  • #3,740
  • Dec 4, 2009 7:43am Dec 4, 2009 7:43am
Quoting magictrader
Now looks like complete pattern...

And also this could be three drives pattern from HT
http://www.harmonictrader.com/price_patterns3d.htm
Ok, target hit . Have a nice weekend.
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