Elliott Wave Trading

GBP/USD 5-Min chart Double Zigzag?

subjectivity is objectivity

Hello Blue Bottle,
I am new to the thread and decided to participate in it because
I believe in the theory for it helps me in my trading.
Just curious, how long have you been working with
this science?
Also, as I see that new wave starts with new breakout.
There are busted breakouts. What do you think how
big can be a breakout to be counted for the new wave?
Thanks.

Possible bear continuation as it may seems the whole v of subwave III of 3 may end in a triangle around 1.330 . next IV again up & v to end wave c.possible HS daily tf may develop in favour of this movement down.
fontu

the only strike.....
subjectivity is objectivity

Summary

Long term outlook: Up
Medium Term Outlook: Down
Short Term Outlook: Sideways to Down
Medium Term Revision Point: Break above 21.31
Potential Medium Term Target: 8.45 and lower

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

In the first image, we have marked a potential wave 1 or A at the December 30, ’09 low (16.77), followed by wave 2 or B at the January 11, ’10 high (18.89) and a possible wave 3 or C at the February 5, ’10 low (14.66). This marking gives us the basis for both the alternatives that we present in this report:

http://www.thetradingsolutions.com/w...810silver2.bmp

In the first case (second image), taking a potential wave 1 at the December 30, ’09 low, wave 2 at the January 11, ’10 high and wave 3 at the February 5, ’10 low, we can only expect a first wave expanding diagonal forming, as the ongoing potential wave 4 has already significantly entered within the limits of wave 1. If this scenario is to hold valid, we should see a reversal in the price while keeping below the January 11, ’10 high, marked as wave 2. The more likely reversal points in price seem to be around the 18.00 level.

http://www.thetradingsolutions.com/w...810silver3.bmp

Alternatively, taking a potential wave 1 at the December 30, ’09 low, wave 2 at the January 11, ’10 high and wave 3 at the February 5, ’10 low, we would expect a possible resumption of the uptrend, which would also force a revision to our medium term marking as well as the medium term outlook of the metal. For this scenario to hold valid, we would expect to see silver breaking above the December 3, ’09 highs (19.46) without breaking below the February 5, ’10 low (14.66).

Hey All,
Here is my GBP/USD chart. The timeframe is daily.
I am predicting the pound to depreciate some more; falling down near its long term lows, without quite reaching or making a new bottom.
I'm looking to buy at this level (about 1.49) and targeting 1.54.

-Adam

subjectivity is objectivity

Hi Guys,

Aussie may be in for a turn.
Look at the gold chart...

just to say hi to you...I see UUUuuu

Hi azlan .

Looks like the end of this up movement could be soon...

audjpy

USDJPY continuation...

subjectivity is objectivity

That was nice, wave 5 =1 in time and 61,8% in price .

Could it not just be the completion of a flat correction i.e. wave 4?

Could be everything . Only time knows the answer.

the possible 4th wave might be ending with a bursting upward before resumming for the 5th wave down trend.

Does anybody knows some good book on Elliott Wave study.
I prefer a short and clear explanations.
Thank you.