The Elliott Journey

Quoting TradeYourEdg

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{quote} Gold - update, can't tell if this is an impulse or correction yet. Looks more and more like a correction. Will stay out for now. {image}

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Quoting TradeYourEdg

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{quote} AUDUSD - update We got a nice and strong trend bar that broke the wedge (yellow circle) with conviction. Now, looks like we're in the middle of Wave V - where wave i & ii of lesser degree just completed and expecting a wave iii to kick in, until price breaks above wave i, we have no confirmation yet. {image}

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Quoting TradeYourEdg

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{quote} GBPUSD - so, we got a down move after wave ii. However, I did say (on 4th Oct) that I was somewhat uncertain if I was in a corrective wave C or a wave 4. Looking at the divergence and the upward channel. It looks more and more that my original count was correct. If price moves above 1.626, then we are definite in Wave 5. Until then, the uncertainty continues to roam {image}

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Quoting TradeYourEdg

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{quote} AUDUSD - Price moved favorably since the price wedge. Looking at the bigger picture (weekly) again, it looks like the channel is still in tact and price is respecting the channel pretty well. In fact, if it was true that we've ended the ABC corrective wave, we can now potentially have started a new impulse wave again. Hence, moving back to the daily chart, price is looking more like a 1-5 wave rather than an ABC now (as oppose to the ABC which I drew previously). {image} {image}

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Quoting TradeYourEdg

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{quote} GBPUSD 4 hr - its been more than a week of waiting and I think I have a clearer picture of where price is heading now. We finally made it to W5 and W3 is made of 5 impulse wave (i-v) of a lesser degree Weekly - what struck me most however is that price is potentially going to break out of the channel after a huge double bottom. If this does break, then it looks like cable is plenty of room to go north {image} {image}

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Quoting TradeYourEdg

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{quote} GBPUSD - This is interesting, it looks like I have a double top here. Also, I have a small 5 wave going on at the moment and we might get a bearish drop instead of the bullish one that I was talking about previously (mentioned on 23 Oct). Nonetheless, the confirmation will come if I get a break below the yellow line which is below 4. Will be keeping a close watch. {image}

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Quoting TradeYourEdg

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EURUSD - There's hasn't been anything too exciting for me on this pair because I've just not not found anything interesting.. well, that's only until today of course. Let's start it simple. Looks like we got ourselves an 1-5 impulse wave here and I'm looking forward for more set ups to come. {image}

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Quoting TradeYourEdg

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{quote} GBPUSD On a larger degree, I have a double top and a break out from the channel. On a smaller degree, I have an Impulse 5 wave and nearing the end of abc correction So price hasn't made a lower low yet.. however, it is retesting the trend line and it is currently at 62% Fib. Either way, I'm keeping a close watch. {image}

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Quoting TradeYourEdg

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{quote} EURUSD - price followed my impulse count and I'm now expecting a correction. I've got divergence and a 50% Fib (see daily). Looks like a correction is near. {image} {image}

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Quoting TradeYourEdg

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{quote} GBPUSD - cable looking good as Wave C is now in progress Looking back at the bigger picture (see weekly chart attached), are we really in an ABC now or are we in a new 5 impulse waves? I need to have a think about it. {image} {image}

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Quoting TradeYourEdg

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{quote} Gold - There isn't much momentum at the moment and it def seems to suggest a corrective wave. While this is a corrective, I'm looking to see what's the next move. My next target is the 100% Fib Ext but it might be a little choppy before we get there. Hope to find some convicted move from there onward. {image}

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Quoting TradeYourEdg

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{quote} EURUSD - As mentioned previously, I was expecting a correction pattern - while this doesn't look like an ABC correction, the wedge above looks like it'll do the job at the moment. With that, I'm looking forward to a short set up soon. {image}

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Quoting TradeYourEdg

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{quote} Gold - Since my last commentary, Gold has dropped in my favor. Right now, looking at divergence and the end of the impulse wave, I'm expecting an ABC corrective wave - in fact, wave c is already in progress. the break above the channel will be a good confirmation {image}

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Quoting raulbeni

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Can this be traded as long? Did you see a incoming Elliot wave or is it just too early? {image}

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