Elliot Wave Trading - Page 154

blueman · #**2296** (**permalink**) 12-20-2007, 01:18 AM

i think right with Jamie,i did not buy euro again,let bottom clear,we have chance to catch wave 3 of (1) of ((5)) of bulish trend.......

happy trading frnds

blueman

blueman · #**2297** (**permalink**) 12-20-2007, 01:19 AM

i think right with Jamie,i did not buy euro again,let bottom clear,we will have chance to catch wave 3 of (1) of ((5)) of bulish trend.......

happy trading frnds

blueman

blueman · #**2298** (**permalink**) 12-20-2007, 05:23 AM

Quote:

Originally Posted by brad_1199

I say Give this pair just a little bit longer and we just might have a nice downside thrust In Wave A.... It looks to me like there is already too much downside thrust off the high..... I would not be surprised at all to see this pair move down very fast if my count proves correct. I thought an upside correction first intraday, but I'm starting to question it... I'm see'in alot of RED coming off that last high.. My first target will be 1.3700. ___ Remember this is the weekly chart...

This Is by no means telling anyone to take a trade... It's only information... what we do with our trading is our own personal business

We must make our own decisions in life.

I hope anyone new around here learns something from these posts.... I remember how hard it was when I first started... If you keep your eyes peeled though... especially on the oscillators and the longer time periods, you should do alright !

Another thing I noted on the chart was the Wave 4 of 5 "Throw Under" It pops just outside the bottom of the diagonal triangle before the final thrust higher over the top.

That should be your cue to watch for the top

If your trend lines are drawn correctly off the top of wave 3 and the bottom of wave 4, you should see it.

-CHEERS-

i personally disagree with you Brad,i just think if we have a big correction case of the 1.5000 is a big sycological level for eurousd,i am still see euro more higher around 1.5600 or maybe even 1.6200 for next year

Jamie Saettele · #**2299** (**permalink**) 12-20-2007, 06:42 AM

Quote:

Originally Posted by brad_1199

I say Give this pair just a little bit longer and we just might have a nice downside thrust In Wave A.... It looks to me like there is already too much downside thrust off the high..... I would not be surprised at all to see this pair move down very fast if my count proves correct. I thought an upside correction first intraday, but I'm starting to question it... I'm see'in alot of RED coming off that last high.. My first target will be 1.3700. ___ Remember this is the weekly chart...

This Is by no means telling anyone to take a trade... It's only information... what we do with our trading is our own personal business

We must make our own decisions in life.

I hope anyone new around here learns something from these posts.... I remember how hard it was when I first started... If you keep your eyes peeled though... especially on the oscillators and the longer time periods, you should do alright !

Another thing I noted on the chart was the Wave 4 of 5 "Throw Under" It pops just outside the bottom of the diagonal triangle before the final thrust higher over the top.

That should be your cue to watch for the top

If your trend lines are drawn correctly off the top of wave 3 and the bottom of wave 4, you should see it.

-CHEERS-

Certainly possible. If the entire rally from 1.2458 is an ending diagonal, then price will eventually return to the origin of the diagonal. If the decline from 1.4966 extends to 5 waves, then we'll have an opportunity to get bearish on the setback. In other words, if this count is the correct one, then the current decline is just i of A.

Jamie Saettele · #**2300** (**permalink**) 12-20-2007, 06:48 AM

Quote:

Originally Posted by Jamie Saettele

Recent consolidaton is a small 4th wave I believe and in the form of a triangle. Expect weakness near term to end near 113.00 before a terminal thrust through 113.59 completes wave v of 3 of C. Then 4 of C should unfold. In summary, expect a choppy USDJPY over the next week at least.

The USDJPY has just completed wave E of a triangle (I think)...the pair should be headed for a test of 114 (at least) in a terminal thrust now.

blueman · #**2301** (**permalink**) 12-20-2007, 07:04 AM

Quote:

Originally Posted by Jamie Saettele

Certainly possible. If the entire rally from 1.2458 is an ending diagonal, then price will eventually return to the origin of the diagonal. If the decline from 1.4966 extends to 5 waves, then we'll have an opportunity to get bearish on the setback. In other words, if this count is the correct one, then the current decline is just i of A.

i have another view of long term eurousd,can it be correct?

Jamie Saettele · #**2302** (**permalink**) 12-20-2007, 07:12 AM

Quote:

Originally Posted by blueman

i have another view of long term eurousd,can it be correct?

If I am looking at this correctly, then it looks like you have a diagonal in the 3rd wave position, which is not possible.

blueman · #**2303** (**permalink**) 12-20-2007, 07:16 AM

Quote:

Originally Posted by Jamie Saettele

If I am looking at this correctly, then it looks like you have a diagonal in the 3rd wave position, which is not possible.

yess... you are right,thanks,

italm31 · #**2304** (**permalink**) 12-20-2007, 10:16 AM

With al this talk about the Euro big picture, are we even keeping our eye on the ball. Right now we have strong downward momentum. we need to focus on that. Who right, whos wrong? Who cares? I just want to know where I am today so that I can trade tommorrow. Weve reached a critical juncture in the Euro. If this is an abc of A, well then c is close to the 100% level of a. Be interesting to note if we go down to the 161% area which would be a typical 3.

blueman · #**2305** (**permalink**) 12-20-2007, 10:40 AM

Quote:

Originally Posted by italm31

With al this talk about the Euro big picture, are we even keeping our eye on the ball. Right now we have strong downward momentum. we need to focus on that. Who right, whos wrong? Who cares? I just want to know where I am today so that I can trade tommorrow. Weve reached a critical juncture in the Euro. If this is an abc of A, well then c is close to the 100% level of a. Be interesting to note if we go down to the 161% area which would be a typical 3.

well,presupose of trunction which will apear in future there is no problem if euro have a impulsive wave now as wave a,so we can imagin a double bottom as a-b-c for break 1.5000 to trace uptrend,this is my imagin now.......

italm31 · #**2306** (**permalink**) 12-20-2007, 10:40 AM

We've just made a lower low on the weekly chart of the Eur/Jpy(granted, just a candlestick) and momentum is down significantly. This could be the start of wave 3 or c down. A typical wave c target brings us to 156 area. This although not shown on his chart would bring us down to he 21 month moving average which I would imaging would provide significant support. Look for price to be sideways to down for the next several days.

Jamie Saettele · #**2307** (**permalink**) 12-20-2007, 10:43 AM

Quote:

Originally Posted by italm31

With al this talk about the Euro big picture, are we even keeping our eye on the ball. Right now we have strong downward momentum. we need to focus on that. Who right, whos wrong? Who cares? I just want to know where I am today so that I can trade tommorrow. Weve reached a critical juncture in the Euro. If this is an abc of A, well then c is close to the 100% level of a. Be interesting to note if we go down to the 161% area which would be a typical 3.

Well, the big picture is relevant now. If the entire decline from the top is an A-B-C in a 4th wave, then C = A right at today's low. I always have my eye on the big picture anyway. My approach is a top-down approach. In other words, big picture first...then focus on entry.

blueman · #**2308** (**permalink**) 12-20-2007, 10:50 AM

Quote:

Originally Posted by Jamie Saettele

Well, the big picture is relevant now. If the entire decline from the top is an A-B-C in a 4th wave, then C = A right at today's low. I always have my eye on the big picture anyway. My approach is a top-down approach. In other words, big picture first...then focus on entry.

absolutlly agree with you

italm31 · #**2309** (**permalink**) 12-20-2007, 10:55 AM

Quote:

Originally Posted by Jamie Saettele

Well, the big picture is relevant now. If the entire decline from the top is an A-B-C in a 4th wave, then C = A right at today's low. I always have my eye on the big picture anyway. My approach is a top-down approach. In other words, big picture first...then focus on entry.

Abosulutely Jamie. Im 100% is agreement with you. I think we have similar style of trade. But for months now, debate about where the euro is on a grand scale has been going back and forth. Its clear we wont all agree until price proves us wrong or right. Im not saying don't show the big picture. Im saying show it when you have something to say regarding the shorter-term view. (Ex. this is what might happen with high probability within the next few days based on this larger term count). Then you show chart larger term count as compelling eveidence. Otherwise, whats the point. Im more of a bear, your more of a bull. The point is right here right now, will this wave end? Thats all that matters in this instance. That comment was NOT referring to you. As you always refer a long lerm picture to illustrate your point on what should happen today. Thats haw it should be done. Unless we are all position traders who dont care about huge draw downs. I dont think thats the case here.

Jamie Saettele · #**2310** (**permalink**) 12-20-2007, 12:49 PM

The long term picture alerted us that 1.4309 is where a=c and that this could be the end of wave 4. The 5 minute chart shows a 5 wave rally and 3 wave decline....waves 1 and 2 up of the next larger degree. Time to turn bullish I believe.