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01-08-2008, 07:03 PM
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Join Date: Jan 2008
Posts: 2
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Hey guys, I am an active commodities and index futures trader. I just stumbled on this thread one day and enjoy your posts and anaylsis.. .nice to see someone trading they way I do. I trade the spot a bit but have been difficulty dealing with the spread. Do you guys all trade 15min + timeframe? It seems that I am having to trade the futures vs the spot on lower time frames due the spread and commissions.
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01-08-2008, 07:26 PM
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Join Date: Jul 2007
Posts: 1,592
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Quote:
Originally Posted by italm31
Hey guys,
In my opinion, the Gbp/Jpy is still showing the clearest waves. I see some more consolidation back to the 219 to 221 for a wave iv of III or C. Waiting for the next drop should prove to be beneficial as wave v of III would be well over 700 pips.
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I am revising my price projection for a wave Gbp/Jpy I made this morning. I was expecting price to bring us back to 219 to 221 for a wave iv of III. (given that typical wave iv price projections are 38.2% to 50 % of wave iii). But heres the problem. The fear in the markets right now are anything but typical. I should have realized that this morning. I believe wave iv is over and ended at the 23.6% of wave III which was 217.11. Price is not going back to 220 and were in wave V of III. This may be an extended wave V who knows. But this is where I believe were at right now. We still need a new low to confirm that.
Last edited by italm31; 06-11-2008 at 06:59 AM..
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01-08-2008, 11:37 PM
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Join Date: Jan 2008
Posts: 2
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eurjpy
Anyone watching for this in the eurjpy tonight?
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01-09-2008, 12:14 AM
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Member
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Join Date: Nov 2007
Posts: 132
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Could someone please help me verify if I have done correctly the 33333 wave structure for a symmetrical triangle on this 15min chart?
I also attach my 1hr wave count
EG
Last edited by EG888; 01-09-2008 at 12:24 AM..
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01-09-2008, 12:21 AM
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Member
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Join Date: May 2004
Posts: 221
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Quote:
Originally Posted by blueman
what is the relationship between the time which wave 2 of large wave 5 spent to completed and part of large wave 1 ...anybody can guide or there is not any relationship......
happy trading
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it seems that my Q was too foolish.....haha.....sorry all friends
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01-09-2008, 12:26 AM
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Member
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Join Date: May 2004
Posts: 221
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Quote:
Originally Posted by EG888
Could someone please help me verify if I have done correctly the 33333 wave structure for a symmetrical triangle on this 15min chart?
EG
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hi EG ,i agree with u in triangle but a bit hard to recognize internal details,i think which is important what happen after break that.......
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01-09-2008, 01:25 AM
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Member
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Join Date: Aug 2007
Posts: 174
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Quote:
Originally Posted by italm31
I am revising my price projection for a wave Gbp/Jpy I made this morning. I was expecting price to bring us back to 219 to 221 for a wave iv of III. (given that typical wave iv price projections are 38.2% to 50 % of wave iii). But heres the problem. The fear in the markets right now are anything but typical. I should have realized that this morning. I believe wave iv is over and ended at the 23.6% of wave III which was 217.11. Price is not going back to 220 and were in wave V of III. This may be an extended wave V who knows. But this is where I believe were at right now. We still need a new low to confirm that.
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Guess notyet except if wave 5 is going to be a diagonal triangle, which could happen, of course. The move lower yesterday was in three waves and never took out support, so looks like a flat is about to develop and today we could see the rally higher. The 4Hcharts, which I look at a lot are begging for some more time/distance higher I think...
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01-09-2008, 03:24 AM
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Guest Moderator
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Join Date: Sep 2005
Posts: 2,936
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oops... wrong chart// sorry !
Quote:
Originally Posted by brad_1199
It looks like this is unfolding right now in eurjpy
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Sorry.. posted wrong chart for eurjpy.... this is my correct count
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01-09-2008, 03:39 AM
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Member
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Join Date: Jan 2008
Posts: 49
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Hi,
this is that I see.....
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01-09-2008, 04:23 AM
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Join Date: Sep 2006
Posts: 39
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Quote:
Originally Posted by EG888
Could someone please help me verify if I have done correctly the 33333 wave structure for a symmetrical triangle on this 15min chart?
I also attach my 1hr wave count
EG
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hello,
this is my first post to this forum. EG888, one of the guidelines to elliot wave principle is that a triangle cannot form in wave 2. it can only form in wave 4 or wave b or wave x of a complex correction. what I think that is developing in the 1hr chart of the eurusd is a complex correction. coming down to the 15min chart, and applying the rule of alternation, wave a is sharp while wave c seems to be developing into a complex pattern. we can only confirm wave c has ended when we have a five wave sharp decline.
chuks
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01-09-2008, 05:06 AM
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Member
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Join Date: May 2004
Posts: 221
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Quote:
Originally Posted by Apex
Hey guys, I am an active commodities and index futures trader. I just stumbled on this thread one day and enjoy your posts and anaylsis.. .nice to see someone trading they way I do. I trade the spot a bit but have been difficulty dealing with the spread. Do you guys all trade 15min + timeframe? It seems that I am having to trade the futures vs the spot on lower time frames due the spread and commissions.
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hi APEX..welcom ......may see your longterm oil and gold count....thanks
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01-09-2008, 06:53 AM
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Member
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Join Date: Nov 2007
Posts: 132
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Quote:
Originally Posted by cyberchukky
hello,
this is my first post to this forum. EG888, one of the guidelines to elliot wave principle is that a triangle cannot form in wave 2. it can only form in wave 4 or wave b or wave x of a complex correction. what I think that is developing in the 1hr chart of the eurusd is a complex correction. coming down to the 15min chart, and applying the rule of alternation, wave a is sharp while wave c seems to be developing into a complex pattern. we can only confirm wave c has ended when we have a five wave sharp decline.
chuks
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blueman and chuks...
Thank you for your reply.
EG
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01-09-2008, 07:25 AM
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Member
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Join Date: Nov 2007
Posts: 132
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Gbpusd
Here is what I am looking at on the GBPUSD.
If price goes lower than 1.9568 which is the 161.8 Fib projection for wave C from wave A and B then we have a 5 wave impulse and this wave down is a wave 3 and not a wave C.
But if price stays abobe 1.9568, and breaks out of the proposed ending diagonal triangle , then the ABC correction may already be finished.
EG 
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01-09-2008, 07:32 AM
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Member
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Join Date: May 2004
Posts: 221
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seems nice trade
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01-09-2008, 08:15 AM
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Moderator
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Join Date: Jan 2007
Posts: 1,327
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Quote:
Originally Posted by cyberchukky
hello,
this is my first post to this forum. EG888, one of the guidelines to elliot wave principle is that a triangle cannot form in wave 2. it can only form in wave 4 or wave b or wave x of a complex correction. what I think that is developing in the 1hr chart of the eurusd is a complex correction. coming down to the 15min chart, and applying the rule of alternation, wave a is sharp while wave c seems to be developing into a complex pattern. we can only confirm wave c has ended when we have a five wave sharp decline.
chuks
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Welcome to the forum new friend
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