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10-30-2007, 10:43 AM
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Eur/USd
Well Eur/USd is unfolding in wave V (daigonal) of wave 5 probably...........any thought on it
Shivaji
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10-30-2007, 11:01 AM
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Hey Honasona,
Until I see evidence of something different, the Euro is playing out the end stages of an expanded ending diagonal which means if this is the case, once it over, it will fall HARD!
Also, if anyone is interested, I dont know if anyone caught the interview with Pretcher on Bloomberg speaking fundementals. If not, enjoy: http://www.elliottwave.com/mediaroom...x?code=INDBODY
Last edited by italm31; 06-11-2008 at 06:57 AM..
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10-30-2007, 11:20 AM
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Itma Expanding Triangle
If Eur/USd is unfolded in Expanding triangle than wave 5 of expanding is finished & down ward moment after that was not clear 5 wave but three wave which shows one more leg up,therefore James count holds true for present Eur/USd unfold.......IMO
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10-30-2007, 11:31 AM
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Until I see a CLEAR 5 down followed by a CLEAR 3 up followed by a break of the low of the 5 down, there is no reason to fade a trend like this. Too many times have I seen traders justify their reason for going against the trend..only to lose money every single time. The beauty of Elliott is that it makes clear when a turn has occurred (5 and 3). Until then, I wouldn't fight it.
I am talking about the EURUSD by the way.
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10-30-2007, 11:37 AM
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Quote:
Originally Posted by honasona
If Eur/USd is unfolded in Expanding triangle than wave 5 of expanding is finished & down ward moment after that was not clear 5 wave but three wave which shows one more leg up,therefore James count holds true for present Eur/USd unfold.......IMO
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Last count I remember Jamie posted was a possible ending diagonal. At the time he posted it, that was a definite possibility. Maybe my eyes deceive me, but I think that can be ruled out now. What other counts do we have at this present moment. Maybe tommorrow will show another possibility but for now, I don't see anything else.
BTW Honasona, the count you just posted in post # 1261 can be ruled out as an ending diagonal cause your wave 4 does not enter your wave 1 territory.
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10-30-2007, 11:42 AM
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Quote:
Originally Posted by Jamie Saettele
Until I see a CLEAR 5 down followed by a CLEAR 3 up followed by a break of the low of the 5 down, there is no reason to fade a trend like this. Too many times have I seen traders justify their reason for going against the trend..only to lose money every single time. The beauty of Elliott is that it makes clear when a turn has occurred (5 and 3). Until then, I wouldn't fight it.
I am talking about the EURUSD by the way.
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I like your simple approach 5 +3 & break 5.........well,i want know ur count on gpy/yen from Month time frame to 4 hour time frame ......pls if can
Thanks in Advance
Shivaji
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10-30-2007, 11:50 AM
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Quote:
Originally Posted by honasona
I like your simple approach 5 +3 & break 5.........well,i want know ur count on gpy/yen from Month time frame to 4 hour time frame ......pls if can
Thanks in Advance
Shivaji
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I don't think it was Jamie who came up with the approach. I beleive it was a man by the name of R.N. Elliot.
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10-30-2007, 11:51 AM
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Quote:
Originally Posted by Jamie Saettele
Until I see a CLEAR 5 down followed by a CLEAR 3 up followed by a break of the low of the 5 down, there is no reason to fade a trend like this. Too many times have I seen traders justify their reason for going against the trend..only to lose money every single time. The beauty of Elliott is that it makes clear when a turn has occurred (5 and 3). Until then, I wouldn't fight it.
I am talking about the EURUSD by the way.
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Been there done that and totally agree with what Jamie said, as long as we don't see evidence of a turn, we shouldn't try to be smart and pick tops and bottoms. The trend is still to dollar selling, but in elliot wave terms we're nearing a top of bigger degree here, we don't know when the turn will come but we're near.
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10-30-2007, 11:51 AM
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Quote:
Originally Posted by italm31
Last count I remember Jamie posted was a possible ending diagonal. At the time he posted it, that was a definite possibility. Maybe my eyes deceive me, but I think that can be ruled out now. What other counts do we have at this present moment. Maybe tommorrow will show another possibility but for now, I don't see anything else.
BTW Honasona, the count you just posted in post # 1261 can be ruled out as an ending diagonal cause your wave 4 does not enter your wave 1 territory.
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Correct...what is unfolding now may be much more bullish than an ending diagonal.
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10-30-2007, 11:58 AM
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Given that the rally from 1.4125 does not look 'corrective' like a diagonal should, the EURUSD may be working higher in wave iii of 5...meaning we may have a way to go.
Also, sentiment indicators that I follow such as COT and risk reversal rates are NOT extreme and I have never seen an important top form without these indicators being extreme. It seems crazy but the EURUSD can go much higher. That is another great thing about Elliott....it doesn't just gauge turns but also indicates when the market is likely to extend.
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10-30-2007, 12:00 PM
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Quote:
Originally Posted by honasona
I like your simple approach 5 +3 & break 5.........well,i want know ur count on gpy/yen from Month time frame to 4 hour time frame ......pls if can
Thanks in Advance
Shivaji
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The gbpjpy does not look that clear to me on an intraday basis and I am not going to 'fit' it into a count. All that I can say with confidence is that everything from the July high (251.10) looks corrective to me, including the recent rally. This means that we are likely in a big correction and that new lows will be registered. Once I see an opportunity there I will surely post it here.
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10-30-2007, 12:01 PM
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Itma31
Quote:
Originally Posted by italm31
Last count I remember Jamie posted was a possible ending diagonal. At the time he posted it, that was a definite possibility. Maybe my eyes deceive me, but I think that can be ruled out now. What other counts do we have at this present moment. Maybe tommorrow will show another possibility but for now, I don't see anything else.
BTW Honasona, the count you just posted in post # 1261 can be ruled out as an ending diagonal cause your wave 4 does not enter your wave 1 territory.
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In Diagonal Triangle wave 4 can overlap wave 1 most of the time but nesscessarly everytime this is wat i read probably u send me through mail that E book (Elliot wave principle by Robert Balan) & this is exception to Elliot wave non overlap of wave 1 & 4
Shivaji
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10-30-2007, 12:11 PM
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Quote:
Originally Posted by Jamie Saettele
Correct...what is unfolding now may be much more bullish than an ending diagonal.
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I agree with you guys but everyday, a new peice is added to the puzzle. All Im saying is this is what I see UP TO NOW. Its a possibility. We need to be ready incase it is the case. If anyone else wants to post up any other real possibilities, please by all means do so. We should be working together to looking at all possilities, not just that of one person. Im looking for an entry based on what I see. I havent seen 5 waves down yet. So I anxiously await like everyone else.
I agree with Jamie that we need to see 5 waves down but if we have an inclining of when the 5 waves are coming, well be able to spot it much easier.
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10-30-2007, 12:28 PM
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Couldn't agree more with you italm that we need to look at all possible counts. For now, I just do not see a whole lot of bearish evidence...which is why I posted the bullish count. If anyone sees something else then please do post it so we can discuss.
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10-30-2007, 12:31 PM
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Quote:
Originally Posted by Jamie Saettele
The gbpjpy does not look that clear to me on an intraday basis and I am not going to 'fit' it into a count. All that I can say with confidence is that everything from the July high (251.10) looks corrective to me, including the recent rally. This means that we are likely in a big correction and that new lows will be registered. Once I see an opportunity there I will surely post it here.
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Love to see ur count gpy/yen,moment it fit ur count....waiting for it
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