Elliott Wave Trading

All technical tools say down but maybe Elliott says up!

That looks like a good chart to me. Good work.

Your Bold letter A is composed of 3 subwaves of abc.
zig zags have 5-3-5.
Are you implying that the overall correction will unfold as a flat or a triangle? (since only flats and triangles have A wave composed of 3 subwaves)

I've just label it like that . Maybe it should be WXY like complex correction, then everything should be ok .

ahh, i see, given the recent development, WXY is also one of my alternate counts

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forex momentum divergence

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trading with SAR and MACD

What is eveyones view on this.
Thanks for feedback

What is eveyones view on this.
Thanks for feedback

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You could be right.

My take is this. Your 2nd wave 'a' looks like a 5 wave set down, which I would label as 1 of 5. Looks like 2 up finished and we are in 3 down with 4 and 5 left after that.

Looks like the US Dollar is already in this pattern. I'm banking on the US Dollar to rise in wave 5 of 5 of 1 (with much more upside after that once a pullback finishes for wave 2). Seems to me the EURUSD will do the same in reverse.

Since I'm expecting the EURUSD to fall hard over the next year, I'm only shorting this pair until major turning points.

Yes true that is my alternate count. Here I am labeling it as "a" bacause I am thinking it might be making zigzag. Now on friday it move up after NFP so sunday will tell us what might happen. But these count still look valid. Friday up move could be start of 3rd wave up. But on 4hr if it moves up all this could be still wave 2 up and then huge wave 3 down will follow.

Cheers

i just think there is too many price overlap in the initial 5 wave impulse,in the daily chart i think the the bigger degree wave 4 still forming,eur/usd may still have upside protencial remain
sometimes i use usd/chf count to filter out the eur/usd count,and here is my usd/chf daily count, and i think the long wave 4 correction is almost to the end(alternate time projection for wave4 262%*wave2=13day, price projection max for wave4 wave 1 top at 1.0170 zone)

Summary

http://www.thetradingsolutions.com/w...110silver1.bmp

1. Long term outlook: Up
2. Medium Term Outlook: Down
3. Short Term Outlook: Sideways to Down
4. Medium Term Revision Point: Break above 21.31
5. Potential Medium Term Target: 8.45 and lower

Last week’s move proved us wrong. Rather than wasting any time with a ‘downward move in a corrective formation’, as foretold in our last report, the market shot up in an impulsive ‘i’ or ‘a’, retracing almost exactly 61.8% of the move down from December 3 to December 30 (see: main image).

With the current preferred scenario given in the main image, we would expect an initial downward move in the upcoming days. This downward move is likely to take the price down to between 17.60 and 17.10. Subsequently, we are likely to see another upward move, which would most likely hold below the December 3 high at 19.47. A break above the 19.47 high will force a revision to our short term outlook.

Conclusion: ABC of the 4th wave has been counted, and the pair should head down now, as the impulse of 5th waves has already started.

My count would be invalidated if the pair reaches 1.4445

Attachment Alternative to the count Above

i think this wave count is invalidated already, the reason is according to the neely wave thoery, "no part of wave 3 will touch the 0-wave2 trendline(if the cuurent wave is impulse wave).if it does, the wave only can be correction wave" although the eilliott wave thoery did not mention this, but to my own expirence its really right

interesting point, thanks of the input, and I will be sure to look at this pair with close caution.

by the way, you mentioned neely waves, what is it compare to elliott? is there more rules to them? what is the difference?

Yes, this rule 0-2 line is really helpful, but sometimes subwave 2 of wave 3 touches it and count is still valid. But most of the time true 0-2 line is untouchable which is very logic concept, because wave 3 should be most impulsive wave which is not coming back, just a rocket .

price is shooting to 4485 right now. my first count is wrong, yet triple three is still in the game.

interestingly, Jamie Sattelle and todd gordon both has counts like my first one. interesting to see how they are going to reconcile their counts.

Does anybody know what is the Neely River Theory, made by Glenn Neely??

Maybe the last possibility for EU to go down...