UC D : retracement 2 while sellers will take their profits ?
- #8,586
- Jun 15, 2017 9:30am Jun 15, 2017 9:30am
USD/JPY daily -- is open to a bullish move here so long as the 17 April low holds. For now the wedge looks bullish. Alternatively, a break of 17 April will suggest a larger correction, still bullish overall. {image}
- #8,593
- Edited 4:49am Jun 20, 2017 4:04am | Edited 4:49am
- Joined Feb 2014 | Status: Trader | 1,796 Posts
skyhok, the development since our last discussion about the EURUSD price pattern forced me to change my count for the big picture. The Long Term cycle High (L-5 = wave "W" of "IV") was at the 23rd of may already and since than a irregular flat (L-6 Low = Wave "X") is developing. As you can see, i assume two additional turning points in the Intermediate Cycle (I-(10) and I-(1) blue) too. This outlook could lead to a higher price target for Wave "Y" (1.20) instead of 1.1630 previously. Sixer {image}
As wave count takes more significance than any other criteria, an impulse wave c yellow has been developing since 10 April low & treating it as an impulse wave:
Since this impulse wave c has an extended 3rd wave [3], wave [4] will retrace deep towards bottom of minor (4) before advancing on [5] towards new high.
Elliott Wave for optimum entry, exit and risk management of trades
- #8,594
- Jun 26, 2017 4:36pm Jun 26, 2017 4:36pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
EURUSD update and selling
Elliott Wave for optimum entry, exit and risk management of trades
- #8,596
- Edited 10:02pm Jun 27, 2017 9:23pm | Edited 10:02pm
- Joined Feb 2014 | Status: Trader | 1,796 Posts
skyhok, any count update after the rise about 1.13 ?? Sixer {image}
It's close to either invalidation of ED wave count or major turning Point.
Waiting for either revising wave count or setting sell stops.
Elliott Wave for optimum entry, exit and risk management of trades
As an alternative count on EURUSD
if it is a complex corection (a)(bx)(c), then it has to retrace to purple box
but
if it is an impulse, PA has to touch or exceed level 1.147685 and never can be retraced to 1.075927
if it is a complex corection (a)(bx)(c), then it has to retrace to purple box
but
if it is an impulse, PA has to touch or exceed level 1.147685 and never can be retraced to 1.075927
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