Cable is starting to look interesting for a long trade. I don't know if will get to 2.0030/40 area where there is a confluence of wave [5] equal to wave [1] and big wave(c) equal to wave (a). Also I see some divergence starting to form.

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Hello Ktrade ,
I have 3 of Pretchers Elliott Waves files that can send you free
(Can't post it here because itn is copy wriitten material )
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I'm trying to send you a Pm with them but I can't find the PM box .....

Does anyone in know how to send a PM ? .........Thanx .

First of all, greetings. I am new to this forum and this is my first post. I appreciate the opportunity to openly discuss with each of you. Thanks in advance.

JimboFX - I have been tracking the exact same count on the GBP/USD and am in general agreement with you. The only difference is that I am treating what you call wave 4 of C, as wave 4 within 3 of C. If true, I'm expecting a pullback to at least the 50% retracement level of 3 near 2.0273 or a period of consolidation at current levels, before C completes near the targets you mentioned. Very near term, the 127% extension of what I am treating as 3 is at 2.0010. Confluence of fibo you say? Yes. As long as 2.0000 dosen't get blown thru, 2.0010/30 presents at the very least a short term long opportunity to play a bounce. I plan to enter long there with targets at multiple intervals. In that area the risk/reward is very good.

Jamie, I'm new here and fumbling around the site. I called but didn't get much help. Will you comment on the GPYJPY as it only went to 227.36 and not the 61.8% about 226.90. Do you think it will still hit that before going to 232-233 before the big fall. Seems I have been reading your elliott posts for months now getting up to this point. I want to short it about 233 and ride it to 210. Any thoughts or how I can get the most out of the forum will be greatly appreciated.

Hey there Dude..... Kool sunglasses.......Welcome

The Rest of the gang will be along hopefully soon
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If I may ask , what other pair are you eyeing some waves ?

Gbp/Usd

Update Chart :
( See original post just above )

Price action from last nights post decline an has made anEnd wave 5 it seems .

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Thanks. I wish they had magical powers to allow me to see waves more clearly! I've really only been tracking and playing GBP/USD and EUR/USD lately. Nothing else is tracking as cleanly so these have been safer plays for me. Both tracking very nicely together from what I have been seeing. I believe the EUR/USD to be in the exact same position and should pull back near 1.4450 before the final move lower. The board is empty for me right now so I'm tempted to load short at these levels, especially considering there could be much more bearish potential in these pairs. However, I'm stubbornly favoring the long side for both after what I think will complete a correction.

I like this count too, but still favor one more move lower. For me, the timing seems a little too quick for an end of Wave 4/5 and the price action is too tame. I'd feel better about it if there was real nasty wick to complete the correction. If I'm wrong, I'll never see entry at my target level and I can load up on wave 2 of your count. If the count I have plays out I could see a short-term target in the correction alone of 200 pips. I like that play better for now.

Hi Jeanne , why not ask Italm or eg88 ....... for a wave-count on the Gbp/Jpy

I know the feeling whenever you call forums like these ,
- their main interest is to open an account for you ........
Always remember ,
they make money if you win or loose in a trade position ...

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Anyway if you ask Italm ,
Im sure he will post a chart for you right away ,

Eg88 ,also posts alot the Gbp/Jpy pair it seems

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Here is a Mid-Term picture that may be occurring ( 4 Hr Bars )

This is only a Probability !................It is Not Cast in Stone........
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Have look here : See chart below

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Hey Market,
Thanks for the vote of confidence. I however, don't think Jamie is as you say he is. We all here to help each other out and in the process help ourselves out. Its the law of the universe. (don't worry, i won't be turning all zen on you or anything...lol). Anyways, I for one appreciate what Jamie does and the 3 months Ive been here, Ive always seen Jamie answer all questions as best he could. If a question is directed to me, I try to do the same. Truth is, Im sure Jamie is not glued to his computer 24/7 and that could be why his answers are not as prompt as you would like sometimes, but he always comes up with answer and for that, I d like to take this oppertunity to thank Jamie for all he does with this forum.

Now back to Markets request regarding the GBP/Jpy. Truth is longer term waves are fairly easy to count. Its the subdivisions that are tricky. I could make a bull case as well as a bear case regarding this pair. Im more in tuned with the bear case, but we seem to be at a cross roads regarding what will happen. A bull would be looking at this and saying, Ok, heres an abc flat correction and were about to explde to the upside. However, a bear would look at this and say, were in a ii of 3 down or C down. (thats my primary count right now. So in essence, we could make a new top but if we break that august low (1 or a red), you will see an free fall like youve never seen this pair do before. Wish I could help more, but my crystal ball is still a little foggy.

Hi Market,I think this forum is more or less a round table discussion,we try as much as possible to sharpen our elliott wave skills and everyone is prone to mistakes but two heads are better than one.There are also times that one can contribute and times one needs to listen.I am not naive maybe a few accounts are opened but I think its well worth it.Jamies job is simply to stimulate the discussions and allow contributions in the end we reach a few possible conclusions.The decision of taking trades is ultimately ours alone.

Completely agree on that one. Jamie's main job is not to post in this forum, but depending on his workload he always takes the time to answer questions.
I was a real newbie 3 months ago, I am still learning a lot, but I think that everything I know is thanks to him and everybody in this forum.
So thanks to Jamie and everyone that have helped me.
I won't have much time to be in this forum for the next 10 days, so I just want to wish everybody a happy holiday and a great 2008 trading year.

Just wanted to say thanks for that post a while back on the USDCAD Italm !!! I think you nailed that wave count... I have been turning bullish USD/CAD myself but couldn't find a count that felt right... I posted a USDCAD chart here a while back with a different count... I should have checked back a bit further in the forum first... Oh well.. Right on Italm...

Jamie,

Could explain how you draw your target on EUR/JPY (6 handles lower than the current price), while you maintain a neutral stance on both USD/JPY and EUR/USD? In order for EUR/JPY to drop 6 handles, either one or both of the underlining majors is going to have undergo a severe hit. How can you maintain a flat stance on the underlying majors, yet be strongly bearish on EUR/JPY?


EUR/JPY
Strategy – Bearish, move risk to 165.29, (from 167.64), target 156.50

wow....very silent here.......i love it

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