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09-20-2007, 12:48 PM
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Quote:
Originally Posted by spin the o
Ed I just saw this, the thing with this alternate is that waves 1 and 4 of (1) overlap, which makes it harder to go with wouldn't you agree?
The other thing I'm wondering is is it possible that the whole correction is what we label (A), with everything else being a bunch of ones and twos?
Sure is consistent with the free money policy we're observing these days...
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Hi Spin,
might I understood something from theory incorrectly. Anyway, again reading basic tutorial at elliotwave. com chapter 3.3 - Leading diagonal - impulsive patern with overlaping 2 and 4 appearing in wave 1 and A, wedge shape. It seemed me like that.
Any opinions on this matter?
Ed
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09-20-2007, 02:29 PM
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ok.i know the count of weekly chart of euro is easy but i am begginner,sorry.
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09-20-2007, 02:31 PM
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I don't like how the yen crosses are behaving, some are completing the zigzag correction but they are stuck at possible ending points.
Wave c of Aus/Yen, Eur/yen, Chf/Yen all at the 61.8 of wave a.
Cad/Yen's at 100% of wave a.
Nzd/yen in between the fib extensions.
And it seems to me that Gbp/Yen is making the same triangle count as Usd/Yen which Jamie suggested today.
All at possible ending points of wave c, so I would be wary of the downmove starting soon.
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09-20-2007, 03:23 PM
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Hey Serhito,
Thanks for the link to Meta trader. Ive been fooling around with the charts and so far so good. I'm going to try to post a chart of this morning's diagonal that I saw. Sorry I couldn't post it real time as some of you may have taken advantage of it at the time (for those that didn't). If this works, Ill now know how to place charts on so less blabbing for me and more pictures for those that can't read...lol. Joke!
For those that don't know what IM talking about, read post # 728, 729 , 731, and 734. I tried to take you through a play by play but I know its difficult when you don't have a chart in front of you.
Also notice that wave v of 5 of the diagonal also ended in a diagonal. I don't know if you could see it on this chart. If not, I urge you to look at a 10 or so.
Here we go:
Last edited by italm31; 06-10-2008 at 08:03 PM..
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09-20-2007, 03:53 PM
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So guys, if this indeed the diagonal, technically we all know what our next move is with this pair. The start of the diagonal began at the wave 4 extreme which is 158. 79. Thats still over 200 pips away. Im looking to short wave 3 down tonight.
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09-20-2007, 04:09 PM
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Trap?
Careful guys, I smell a trap.
Today's move down in the Eur/JPY appears to be in 3 waves in a smaller time interval. (5 min). Yet, if this was indeed a diagonal, we clearly need 5 waves in order to go down to wave 4 extreme of 158.79. (see previous post). I believe this is a truncated 5th wave. The fifth wave is waves 5 waves long as well. I believe we are in wave 2 so I expect an ABC from here. Fib levels suggest a move back to 161.77 (.618 of complete wave 1 down).
Last edited by italm31; 06-10-2008 at 08:03 PM..
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09-20-2007, 05:31 PM
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Quote:
Originally Posted by italm31
Hey Serhito,
Thanks for the link to Meta trader. Ive been fooling around with the charts and so far so good. I'm going to try to post a chart of this morning's diagonal that I saw.
Here we go:
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Italm,
Great charts.
Now we'll know exactly what you are talking about when you post your forecast.
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09-20-2007, 06:18 PM
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Wave 3 ?
Hey guys,
Heads, We may be in wave c of 2. A drop below B at 161.09 cofirms were wave 3 down has commenced.
Last edited by italm31; 06-10-2008 at 08:03 PM..
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09-20-2007, 07:20 PM
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Top or Not?
We've passed .618 retracement of the intitial 5 wave decline by 2 pips at 161.79. Wave C = wave A. Could this be a top? We need a drop below B wave to be sure?
Last edited by italm31; 06-10-2008 at 08:03 PM..
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09-20-2007, 07:43 PM
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that obviously wasn't the top. We ve made it to the .786 level at the psychological resistence of 162 YET AGAIN! Lets see what happens
Last edited by italm31; 06-10-2008 at 08:03 PM..
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09-20-2007, 09:10 PM
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Maybe I should put on my Bull Glasses!
Hey guys
This is what Zeev meant when he said trying to make a count fit your bias. 1 more top would signify a 5 wave move so I definately dont want that. So far my C wave has a truncated fifth with a 1 down and an irrugualr flat. Talk about bizzare! Anyhow, Im looking at it through bear glasses, I have to admit. If another top is made, thats a 5 wave move so I will have to reacess my count.
Last edited by italm31; 06-10-2008 at 08:03 PM..
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09-20-2007, 09:23 PM
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So far so Good!
Sorry about all the charts. Serhito, You created a monster!...lol. Anyways,
so far so good. My bizarre count has served me well. I'm still in it and I believe we have a top at 162.06 (truncated fifth). This should be a 1 of 3 if my count is correct. WHEW!, that was close. We still need to break B wave 161.09 to be 100 % certain. I'm off to bed. See you at 4 am.
Last edited by italm31; 06-10-2008 at 08:03 PM..
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09-21-2007, 01:43 AM
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I would probably bang my head if someone asked me to label 5min charts, worst case if prices were moving sideways 
Aud/Cad might be completing wave 2 soon with another drop to to around 0.8600 area, time to go long from there.
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09-21-2007, 04:08 AM
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Yup! Just make sure your helmot has a money back guarantee...ouch!
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09-21-2007, 05:08 AM
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Well That obviously wasn't a diagonal. Gos to show you could still make a profit being wrong. Presuming you take profits ASAP of coarse. No matter how clear your wave count is at the time, you don't control price.
So if that wasn't a diagonal, what the heck was it?
Well I'm still a bear so I'm going for now with this pair cause the wave 2 hasn't been violated. Its still hanging near its 78.6 % retracement of the 3rd wave down.
A possibility of an extended wave 1 of C. I know, thats just crazy talk!...lol. Going with this count, we need to be careful of 1 of the Elliot rules. Wave 3 = 375 pips. Since wave 1 is the longest, wave 5 has to be less than 375 pips which means we can't go higher that 164.59 for this count to be correct. BTW, this count works for Jamie's Big picture B wave as well.
We need break below 160.68 (yesterdays low...wave 4) to confirm that.
Heres my preferred count right now.
Have a good weekend.
Last edited by italm31; 06-10-2008 at 08:03 PM..
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