Elliot Wave Trading - Page 449 - DailyFX Forex Forum

chakow · #**6721** (**permalink**) 04-29-2008, 09:46 AM

Hi Jamie and All

EURGBP break the level 0.7905 , but I think the down side still be rich.
Would you think it's a good chance to go short now?

comment or advise will be appreciated.
many thanks

chakow

brad_1199 · #**6722** (**permalink**) 04-29-2008, 09:48 AM

Quote:

Originally Posted by rob4x

hi brad 1199 i would like to see it . how do i pm you?

Hi Rob.. You need to click on "User CP" (Top Left Corner Of Screen) .. Scroll Down The Left side of the next screen and you will see some options... You should be able to find your way around there fairly easy...

brad_1199 · #**6723** (**permalink**) 04-29-2008, 10:20 AM

Price moved in my favour from the post last last night on EURCHF... This is just an update..

texas pipster · #**6724** (**permalink**) 04-29-2008, 10:22 AM

Quote:

Originally Posted by fxctrader

Texas,

Here is the AUDUSD count I am following.

fxctrader - I got in late and exited my short when we could not sustain a break below .9300. I am wondering if .9405 was abc for A and yesterday/today's move down was abc for B and now we are working on a C wave up. ?

Anyway, I am going to try to short at .9355 with a stop at .9375. If it goes past my stop, then I would lean towards the scenario I just mentioned playing out.

Will post a chart when I have time later. Thanks for your chart.

EDIT 1 -

May move my entry. We got as high as .9352 and I now see 5 small waves down on 1 minute chart.

EDIT 2 -

Entered at the market .9343 SL at .9375. will work on Targets.

EDIT 3 -

Working on Targets, changed my mind and moved stop to breakeven. New chart coming.

TP

Jamie Saettele · #**6725** (**permalink**) 04-29-2008, 11:24 AM

Quote:

Originally Posted by chakow

Hi Jamie and All

EURGBP break the level 0.7905 , but I think the down side still be rich.
Would you think it's a good chance to go short now?

comment or advise will be appreciated.
many thanks

chakow

EURGBP is headed down until we have reason to believe that it is not (5 up). You can see that resistance is strong at today's high from fibo resistance. The next level is the congestion zone designated by the 2 black horizontal lines (.7937/54). The trend is considered bearish as long as price is below .8047 but price shouldnt come close to this level.

chakow · #**6726** (**permalink**) 04-29-2008, 11:37 AM

Many thanks Jamie, I have stop out since 0.7900 support strongly.

th loss almost eat all my gain on EURCHF... well, looking forward to another chance to enter .

Best

Chakow

diver · #**6727** (**permalink**) 04-29-2008, 12:04 PM

Yo AT,

What up?

Hey, can I bother you for your up-to-date count of the USD/JPY and USD/CHF?

Thanks,

Diver

speculator84 · #**6728** (**permalink**) 04-29-2008, 12:31 PM

Quote:

Originally Posted by diver

Yo AT,

What up?

Hey, can I bother you for your up-to-date count of the USD/JPY and USD/CHF?

Thanks,

Diver

Not quite AT but this is my current USD/CHF count. Atm I am long until 1.0600 range. Waiting patiently to go bearish.

As wave unfold they became alot clearer, so here's hoping I nailed this one in the last week

.

brad_1199 · #**6729** (**permalink**) 04-29-2008, 12:54 PM

It looks like AUDCAD has found the wave "B" bottom I was looking for... It went a little deeper than I expected .. but not much .. I am expecting a rally in this pair soon...

texas pipster · #**6730** (**permalink**) 04-29-2008, 01:13 PM

Here is my updated count on the AUDUSD. While not a "true" divergence because price did not go lower than the wave 3 low, it could still be applicable. (I do not know enough about wave 5 failures).

The other scenario (chart 2) is that today's double bottom is B, and the move up will complete C and wave II.

chart 1

chart 2

Now looking at my own chart 2. Labeled wave A could be a-b-c for Wave 2, B could be wave 1 of iii down and we are now doing wave 2 of iii up. This is why elliott drives me CrAZY!

chakow · #**6731** (**permalink**) 04-29-2008, 01:20 PM

Hi Jamie,

I just wonder why we can't see your post before I post my reply to you for EURGBP?

This chart should be saw 30 mins or 1 hour ago, since its post number is prior than mine?

chakow

Jamie Saettele · #**6732** (**permalink**) 04-29-2008, 02:33 PM

Quote:

Originally Posted by chakow

Hi Jamie,

I just wonder why we can't see your post before I post my reply to you for EURGBP?

This chart should be saw 30 mins or 1 hour ago, since its post number is prior than mine?

chakow

My post was visible before your post, I am not sure what you are referring to.

Jamie Saettele · #**6733** (**permalink**) 04-29-2008, 02:37 PM

Quote:

Originally Posted by chakow

Hi Jamie,

I just wonder why we can't see your post before I post my reply to you for EURGBP?

This chart should be saw 30 mins or 1 hour ago, since its post number is prior than mine?

chakow

Quote:

Originally Posted by Jamie Saettele

here is my super bearish eurusd count. i prefer the count that has a wave 2 top at 1.5694 (see this morning's techs to understand why). Therefore, a series of 1st and 2nd waves is leading to the eurusd coiling up for a BIG wave 3 down that probably doesn't start until tomorrow...given that the fed concludes their 2 day meeting tomorrow.

Take a look at a 5 min chart and you can see a clean 5 down from 1.5618. This supports the super bearish count that I posted earlier.

Gizmo · #**6734** (**permalink**) 04-29-2008, 03:07 PM

A possible bullish count for the EUR/GBP? I can count 5 up to complete a possible wave 1 which would now put us into a wave 2. I don't expect it to go to high and I have a short entry waiting around .8000 until I see how this plays out.

With the EUR and the GBP both declining I was expecting a bearish count so I think I might have an incorrect count somewhere along the line.

ravno · #**6735** (**permalink**) 04-29-2008, 03:19 PM

Gizmo, i have the same count, see my post #6771.

We might be just in the X wave or, even better, we just will see how the correction (down to this small 5) developes and what would be the length of the next 5 up (if any).