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Elliott wave outlook

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  • #5,841
  • Jan 18, 2013 4:45pm Jan 18, 2013 4:45pm
Quoting Luis Carlos
The possibilities with the yen are huge... Euro yen could reach the big number of 173.00
this one!!!
but I would like to fly dragon @16*** to 17*** in next 6-9 month.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: yen.gif Size: 15 KB
Click to Enlarge Name: yen1.gif Size: 13 KB
just live a life, don't be hard.
  • #5,842
  • Jan 18, 2013 4:55pm Jan 18, 2013 4:55pm
It is possible looking the picture from 1900 to 2012... First line we should look at is ej 123 and gj 146 let see if we have a correction there
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #5,843
  • Jan 18, 2013 4:57pm Jan 18, 2013 4:57pm
I am talking about big correction above 1000 pips
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #5,844
  • Jan 18, 2013 4:59pm Jan 18, 2013 4:59pm
Quoting Luis Carlos
48 trades in 1 week... WOW
every trade is start with 5micro lot than add up more up to mix 4 miro lot if trade goes in my way. and kill the trade when reach my target. if it goes other way let it down till -20 pips this is my usual stop. working on this system still under testing.
just live a life, don't be hard.
  • #5,845
  • Jan 18, 2013 5:01pm Jan 18, 2013 5:01pm
Quoting shaukat113
every trade is start with 5micro lot than add up more up to mix 4 miro lot if trade goes in my way. and kill the trade when reach my target. if it goes other way let it down till -20 pips this is my usual stop. working on this system still under testing.
ok
Stocktwit: LuisCarlos - twitter: @lcparodi
  • #5,846
  • Jan 18, 2013 5:10pm Jan 18, 2013 5:10pm
Quoting Luis Carlos
I am talking about big correction above 1000 pips
it can be up to 1500( as it was in may 2003 to nov 2003).uj
just live a life, don't be hard.
  • #5,847
  • Jan 18, 2013 8:17pm Jan 18, 2013 8:17pm
Quoting Farrusco
I'm happy im not the only one betting on eur/jpy correction, however I don't believe in 113 it's too low, I've set my t/p for 118.580
how long are you expecting to hold this? are you trading hourly? daily?
  • #5,848
  • Jan 19, 2013 2:47am Jan 19, 2013 2:47am
Quoting Luis Carlos
I am talking about big correction above 1000 pips
  • #5,849
  • Jan 19, 2013 4:49am Jan 19, 2013 4:49am
I found a short cut for elliott wave.

gbp/usd

Elliott elongated flat correction down 1.5900
One more dip to 1.5974 - 1.5952 is likely followed by a grind higher to 1.6016 - 1.6036. After which it can resume its downtrend.
just live a life, don't be hard.
  • #5,850
  • Jan 19, 2013 4:54am Jan 19, 2013 4:54am
Quoting shaukat113
I found a short cut for elliott wave.
Shaukat. What short cut?
  • #5,851
  • Jan 19, 2013 4:55am Jan 19, 2013 4:55am
http://www.rtfx.com/forex-analysis/t...01.2013/daily/
just live a life, don't be hard.
  • #5,852
  • Jan 19, 2013 4:59am Jan 19, 2013 4:59am
let the expert to do the math, and act in yor own best intrest with your own way of trading long on gbp/usd for day trade on coming week.
just live a life, don't be hard.
  • #5,853
  • Jan 19, 2013 5:08am Jan 19, 2013 5:08am
Quoting shaukat113
let the expert to do the math, and act in yor own best intrest with your own way of trading long on gbp/usd for day trade on coming week.
  • #5,854
  • Jan 19, 2013 10:30am Jan 19, 2013 10:30am
Hi shaukat 113
you trade elliot yes ,i notice flat on gbp/usd daily which is allready extended lower through 1.5974 i allready have buy at lost and looking for recovery hope market opens higher
  • #5,855
  • Jan 20, 2013 5:01am Jan 20, 2013 5:01am
Quoting Luis Carlos
I am talking about big correction above 1000 pips
OMG...
it's so big... what's the pairs do you mean brother Luis ?
please allow me to know it... oh, please me brother Luis...
  • #5,856
  • Jan 20, 2013 5:12am Jan 20, 2013 5:12am
Luis on EU I believe it is a more complex corrective form . Last high in 1h chart I consider to be a X , since didn't go back to the C of the previous zigzag. So my guess is an irregular B to be formed now targeting 13420 then 5 waves down to retest the C of the first zigzag then X then Flat or Triangle.
zigzaz-x-irregullar B-X- Flat or triangle. What are your thoughts guys.
  • #5,857
  • Edited 6:11am Jan 20, 2013 5:57am | Edited 6:11am
Quoting dopodopo
Luis on EU I believe it is a more complex corrective form . Last high in 1h chart I consider to be a X , since didn't go back to the C of the previous zigzag. So my guess is an irregular B to be formed now targeting 13420 then 5 waves down to retest the C of the first zigzag then X then Flat or Triangle.
zigzaz-x-irregullar B-X- Flat or triangle. What are your thoughts guys.

There is no easy answer to this. I think, the point is here;

I can reproduce 3 charts all of which will look great and fit a certain count, but the move down previously was definitely complex, so therefore, we can not confidently predict where PA will go. Trading complex correctives with EW is a fast route to ruin unless you maintain complete discipline.

I mentioned before, the only safe wave to trade is 'C' waves, on whatever time frame you are following. Look for a definite 3-3 or 5-3 move and know that a 5w will follow. This is not enough of course, you need to recognise the end of 'B' in 3 confidently. This 3 will also end in a minor 5w (B is broken down abc etc)...

If you follow me?

The easiest way is to look for an ending diagonal where you are expecting the end of B or at least a minor 5th which reaches its 61.8% fib projection (of waves 0-3), followed by a minor 5w counter, (wave 1 of C), wait for your abc pullback (wave 2) and go with main trend, stop above/below start of move...

Hold on, i will dig out a chart from earlier this week...
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  • #5,858
  • Edited 6:59am Jan 20, 2013 6:09am | Edited 6:59am
Somehow that still didn't sound right!

My point is, the market during this time (complex correctives) simply has far too many options available for it to take.
Friday's move short could have been abc ('A') so now we might see the reverse abc ('B') or it could have been 5-3-5 ('W'), so now abc 'X' wave or it could even be making a larger 5w short, (although i don't think it looks like it).

Ok, have a look here to explain my previous post;

http://i1168.photobucket.com/albums/...ry16-01-13.png

We have a def 5w move first (A). The 4th retraces 38.2% of the 3rd and the 5th makes an ending diagonal reaching 61.8% of waves 0-3. Next we have our abc 'B', which ends in a 5w 'C, (i have it vaguely as a diagonal, but it could be simple 12345). So recount... we have 5w/3w, looks to be finished... that is A&B regardless of whatever count you care to name it. We know we have a further move short to come. Next the pair is still kind to us and makes a clear minor 5w short for our wave 1 (of 'C')...

http://i1168.photobucket.com/albums/...y16-01-13a.png

Here in more detail, the (minor) 5th wave reaches its fib level projection and from then wave a (of 2) retraces 38.2% of wave 1, then 'b' travels 200% of a as an irregular, wave c, you can follow in 5 minor waves and enter short at it's conclusion... easy easy trade, but rare to find such clarity, this is where discipline is key.

This example is scaleable, so you look for the same regardless of 1min or 4hr etc...
GoFundMe -stage-4-glioma-brain-cancer-fighter (link in my profile)
  • #5,859
  • Jan 20, 2013 7:11am Jan 20, 2013 7:11am
Quoting The Cableguy
Somehow that still didn't sound right!

My point is, the market during this time (complex correctives) simply has far too many options available for it to take.
Friday's move short could have been abc ('A') so now we might see the reverse abc ('B') or it could have been 5-3-5 ('W'), so now abc 'X' wave or it could even be making a larger 5w short, (although i don't think it looks like it).

Ok, have a look here to explain my previous post;

http://i1168.photobucket.com/albums/...ry16-01-13.png

We have a def 5w move first...
Thank you very much CB for kind explination .
  • #5,860
  • Jan 20, 2013 7:24am Jan 20, 2013 7:24am
Quoting dopodopo
Thank you very much CB for kind explination .
CB can you please update a chart on EU as well?
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