Elliott wave outlook

Quoting Schickeria

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look here

http://www.babypips.com/school/hidden-divergence.html

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Quoting venzen

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You nailed the cusp there! I am interested: what made you choose that price level? I ask because there is a Fib level below at 1.3330..

Also, I am glad to see your chart of EU with a daily pivot on there (my platform's Pivot points are unusable) - I notice PA just dropped through the pivot without even saying hello

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Quoting venzen

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You nailed the cusp there! I am interested: what made you choose that price level? I ask because there is a Fib level below at 1.3330..

Also, I am glad to see your chart of EU with a daily pivot on there (my platform's Pivot points are unusable) - I notice PA just dropped through the pivot without even saying hello

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Quoting venzen

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Thanks Schickeria - good old Babypips.com!

Yes, hidden divergence - this is what I call "reverse" divergence because the indicator/oscillator is making HHs or LLs contrary to price. So now I know the real name.

What I like about hidden divergence is that when it occurs in tandem with normal divergence you usually get a run of 2-3 sets of alternating normal and hidden divergence and then suddenly the hidden divergence ends and on the next price extreme: bang... trend changes. But in the last 2 weeks I've seen pinpoint turning point prediction...

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Quoting venzen

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Ej is shooting a beam into space!

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Quoting The Cableguy

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Yep, exactly. It took me quite some time to realise why you often had three bouts of divergence and it was only the short sharp blast of it, usually after the second or third set that worked. Each time it was over-ridden by hidden divergence indicating trend continuance. can be very handy. i don't use indicators for much, but that one is very very handy...

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Quoting Shickeria

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It is easy to say. check out the green dotted trendline. I sold @ the red dotted trendline and have a buy order on the trendline. it-finance is the best trading software you can have. you can put on the trendline "if order" it touch trendline buy...... etc...

the trendline is automatically drawn by the software.

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Quoting venzen

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Hey, you're cheating!

jokes

Thanks for explaining your reason, but hey, don't trust ProRealTrend 100% ok? Trading on trendline bounces is a totally valid strategy but ProRealTrend doesn't do EW or Fib analysis and these are more scientific methods than trendlines alone. ProRealTrend often shows me relationships between highs/lows that I would have missed otherwise and I switch it on for that. But Cableguy, doesn't seem to care for it much.

Do you use the ProBackTest module?

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Quoting Luis Carlos

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I think the M is completed EJ

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Quoting The Cableguy

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Gonna do a contrarian view here. i like the Fib levels so much in the earlier chart, that we may have even had wave B already, 'c' (of B) reached 76.4% of 'a' (of B) in 5w... it could be down from here, especially as EU has a date with at least 13,330 yet...

Also decent bout of hidden divergence



Only thing i will say, is that i don't really like that chart at all! The general rule that the overall abc will be both longer and further than the longest of either wave 2 or 4, doesn't appear to have been fulfilled. It probably backs up the diagonal...

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Quoting Tim_isoara

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Hi Cableguy
I see a extension of wave 3 than 4 retracement 38% to 125 then down for 5 to122.43.
What you think? Have a nice weekend.

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Quoting Schickeria

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The direction of the EUR / USD for the next week is my assessment very bullish.

Very essential to watch the USD-Index to determine the direction of EUR/USD and another Pairs.

On Daily USD-Index we have a triangle a-b-c-d-e.

B-Wave is complete and ends at e.

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