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Elliott wave outlook

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  • #6,721
  • Jan 30, 2013 2:45am Jan 30, 2013 2:45am
Here is what I am looking at on my 4hour chart.
Attached Image (click to enlarge)
Click to Enlarge Name: 4hchart.jpg Size: 112 KB
  • #6,722
  • Edited 3:01am Jan 30, 2013 2:54am | Edited 3:01am
Just an observation or maybe my gut feel, but it seems that the engine driving all of the current bullish sentiment is the Dow.

As both engine and yardstick, I suspect that when the Dow hits 14,000 around the time of the FOMC announcement it will reverse violently and take most everything else down with it. Recently, the Dow has been tracing out some pretty grotesque waves - for the most part uncountable - yet always up up up. The guys at EWI (who are paid to count) are like: "no discernible count or labels, but up is the game".

Except for some left-field exogenous event, I cannot see any other catalyst for reversal except that the Dow hitting a psych level in the collective Bull's one-tracked consciousness.

Attached Image (click to enlarge)
Click to Enlarge Name: DJI_trident_2013-01-30 05:59:32.png Size: 57 KB
cryptocurrency everytime
  • #6,723
  • Jan 30, 2013 2:55am Jan 30, 2013 2:55am
look m5 m15 and m30 on eur jpy.. top achieved went short
  • #6,724
  • Jan 30, 2013 3:02am Jan 30, 2013 3:02am
The prediction at the start of the year;

http://i1168.photobucket.com/albums/...y03-01-13c.png

and so, this Y wave might be shorter than W, although its not hit the 76.4% just yet;

http://i1168.photobucket.com/albums/...ly30-01-13.png
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  • #6,725
  • Jan 30, 2013 3:07am Jan 30, 2013 3:07am
The problem being we might only have reached the first set, either way we should be set for some downside imminent as at least an X wave.
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  • #6,726
  • Jan 30, 2013 3:09am Jan 30, 2013 3:09am
Quoting Farrusco
look m5 m15 and m30 on eur jpy.. top achieved went short
Really? looks like 3 waves down from the new high so far. That means upside not finished yet
  • #6,727
  • Jan 30, 2013 3:16am Jan 30, 2013 3:16am
The 76.4% of W for Y is at 13,530 which ties in with the current cycles 61.8% projection (13,534).

Someone mentioned the Dow, i'm waiting for 14,070, as per last week;

http://i1168.photobucket.com/albums/...y23-01-13c.png

http://i1168.photobucket.com/albums/...y23-01-13d.png
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  • #6,728
  • Jan 30, 2013 3:20am Jan 30, 2013 3:20am
Quoting Gray
Really? looks like 3 waves down from the new high so far. That means upside not finished yet
BINGO
  • #6,729
  • Jan 30, 2013 3:21am Jan 30, 2013 3:21am
Quoting Gray
BINGO


we only hope 123,6 for a reversal, but the uptrend move is so strong.....
I'll Sell when price is heading to Hell
  • #6,730
  • Jan 30, 2013 3:25am Jan 30, 2013 3:25am
Looking strong still. Good night all! Hope my stop holds!
  • #6,731
  • Jan 30, 2013 3:25am Jan 30, 2013 3:25am
Quoting MeInGraySuit
Looking strong still. Good night all! Hope my stop holds!
hoping for stop...
  • #6,732
  • Jan 30, 2013 3:25am Jan 30, 2013 3:25am
Quoting braintec


we only hope 123,6 for a reversal, but the uptrend move is so strong.....

Thats right. Let price action guide us not something you THINK it is going to do....
  • #6,733
  • Jan 30, 2013 3:27am Jan 30, 2013 3:27am
dont forget eur is getting stronger too... but jpy movement should end on other pairs first
  • #6,734
  • Jan 30, 2013 3:57am Jan 30, 2013 3:57am
i dont know how the rest of you feel about this idea but i feel we should make a live chat aka "tiny chat" or something like that so we can discuss trades/trends in real time. expecially in the prime hours.
  • #6,735
  • Jan 30, 2013 4:01am Jan 30, 2013 4:01am
Quoting xfatboi
i dont know how the rest of you feel about this idea but i feel we should make a live chat aka "tiny chat" or something like that so we can discuss trades/trends in real time. expecially in the prime hours.
And where we place the chart and the views?
  • #6,736
  • Jan 30, 2013 4:02am Jan 30, 2013 4:02am
Never forget the bigger picture. Only a fool would bet against a trend, so we go with the flow until proved otherwise, however, it is still important to have an overall view. i posted this last week;

(EJ)

http://i1168.photobucket.com/albums/...y25-01-13b.png


If correct we have a confluence of channel lines and fib near above;

http://i1168.photobucket.com/albums/...4h30-01-13.png
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  • #6,737
  • Jan 30, 2013 4:07am Jan 30, 2013 4:07am
Quoting dopodopo
And where we place the chart and the views?
i dont know if you can link direct pictures. but i know you can link links like luis does a lot. and there are probably other sites that i dont know of that do link direct pictures if not. and worst case you continue to link charts here and use other for live chat.
  • #6,738
  • Jan 30, 2013 4:08am Jan 30, 2013 4:08am
EJ short term wave count keeping in mind we may extend

Count some waves guys..dont guess....
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy 3min 30 01 13.jpg Size: 68 KB
  • #6,739
  • Jan 30, 2013 4:10am Jan 30, 2013 4:10am
Hope Your Stops Have Not Got Hit !
Quoting MeInGraySuit
I am short .3510
Stop: .3535
  • #6,740
  • Jan 30, 2013 4:21am Jan 30, 2013 4:21am
Quoting Gray
EJ short term wave count keeping in mind we may extend

Count some waves guys..dont guess....
so in ur view we are going 125?
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