Elliott Wave Trading

subjectivity is obejectivity

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Summary

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

http://www.thetradingsolutions.com/w...810silver1.bmp

There weren’t any surprises in the market during the week ended February 5, 2010. On February 5, 2010, the market broke below our first target at 15.10, went down to 14.66 and then closed at 15.15.

The main chart provides our outlook of the current situation. With the upward move starting from 10/28/08 (now shown in the image) possibly completing at the 12/03/09 high (19.46), we are now at the start of a possible long term C wave correction of which wave 1 seems to have completed at the December 22, ’09 low (16.78) followed by an Expanded Flat correction completing wave 2 at the January 11, ’10 high (18.89), from where we have so far had a very swift sell off – characteristic of the third wave sell off – of which we have marked a possible four sub-waves completing at the February 3, ’10 high (16.94) and a tentative projection for the fifth sub-wave, most likely completing at around the 14.51 level. Nevertheless, the possibility of the fifth wave having already completed at the February 6, ’10 low (14.66) cannot be ruled out. In any case, depending upon the completion of the fifth wave, we will subsequently see at least a three wave correction for the whole of wave 3 or c, which should be seen as a slightly longer term shorting opportunity at its potential termination points.

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Eve and Adam chart pattern

Hello, my views on EU 10min chart with red resistance zone for a short entry

the entry zone changed a bit and I also add GU 10min chart with potencial short

This is my EUR/USD EW count....

It's possible a bearish triangle just ended. This count suggests the correction is complete and the euro is headed to a new low beneath 1.3585.

Possible TP
1 @ 1,3437
2 @ 1,2996

http://clc4x.files.wordpress.com/201...49feb20101.png

Although EW count shows that bullish Wave 1 is starting, I still doubt with it because US and China are having currency war now.

http://clc4x.files.wordpress.com/201...19feb20101.png

So, you're not exactly bullish about US Dollar ?

I am sure about US bullish. However, if you notice movement of JPY, it is opposite. I read some news from bloomberg and Chinese websites. A lot of analysts commented that US manipulated JPY to make China to appreciate CNY currency.

In my opinion, for short term, we have to treat JPY differrently.

EUR USD

Gbp chf d
h4

perhapss wave 2?

http://clc4x.files.wordpress.com/201...10feb20101.png

http://clc4x.files.wordpress.com/201...10feb20101.gif

AUDUSD looks nice, like 1234...
So EU could go up, but without making new top, because wave 4 is strong. But 1,48 level is possible when AUDUSD will make new top...

dollar index

we are in a impulse wave

Aussie Count

http://clc4x.files.wordpress.com/201...112feb2010.png

Off topic, but hopefully someone can help: looking for an mt4 broker that would provide $ index... (not really interested in dollar index indicators)

The issue has been discussed here in FF and some brokers have been proposed, but when I downloaded their mt4 demos none had dollar index included!?

Thanks guys,

I am using Alpari NZ Limited.

My count on AUDUSD daily is 5-wave and probably followed by a double zigzag. Anyway, we agree the general direction is up.