Elliott Wave Trading Discussion - Page 1035

Ilovepippin · #**15511** (**permalink**) 08-03-2009, 08:07 PM

Quote:

Originally Posted by aerocom

Ok. I can live with that. I figured before labor day or right after. My actual DOW calculation if it's A-B-C is 10458

Thanks. Keep up the good work.

Good Luck.

3 things that are important:
- if this is a zigzag then we need equality in wave A and C. So in this case wave C=A at the 50% retrace.
- look for market sentiment, when everyone is screaming eureka we have stopped the recession and it starts appearing in the news everywhere, then beware for the next wave!
- we can be wrong of course...

Good trading!

kaori · #**15512** (**permalink**) 08-03-2009, 08:12 PM

i didn't write that post ----- i only responded to it ,,,,,,

The messenger bringer is not so important - the actual message is

Either, if you serious about pattern trading, products tends to change what you trade, there´s at timely basis declious setups also between individual equites....

marketwavez2 · #**15513** (**permalink**) 08-03-2009, 08:13 PM

Quote:

Originally Posted by aerocom

Ok. I can live with that. I figured before labor day or right after. My actual DOW calculation if it's A-B-C is 10458

Thanks. Keep up the good work.

Good Luck.

Well ,,,,,,, Good Trading to you ,,,,,,, hope it all works out for you //////

marketwavez2 · #**15514** (**permalink**) 08-03-2009, 08:34 PM

Usd/ Yen

Short-Term wave count ............

- - - - - - - - - - - - - - - - - - - - - - - - -

mike3gdc · #**15515** (**permalink**) 08-03-2009, 08:55 PM

Quote:

Originally Posted by marketwavez2

Well ,,,,,,, Good Trading to you ,,,,,,, hope it all works out for you //////

Hello everyone,here I am again but this time with CHARTS!

here is my oil chart.do you count this as an Ending Diagonal or as an expanding triangle? I need your help guys.on 1M and 5M it looks like a ending diagonal(I am confused here) would anyone please comment on this.
Best,

mike3gdc · #**15516** (**permalink**) 08-04-2009, 06:05 AM

Hello guys,

Can anyone tell me How do we count the whole rally from last year low? can we take it as ABC or we should count it as 1-2-3-4-5 ?

Thanks for the input.

justy10125 · #**15517** (**permalink**) 08-04-2009, 06:26 AM

Quote:

Originally Posted by apipintime

Thanks Justy. With your recent count on the Dollar Index, I take it that if this turns out to be a 5 wave impulse off of the bottom you would be considering it to be an A wave of a zigzag?

Yeah, the zig/zag rally would be my preferred count. If the rise off of the lows is actually an impulse, as I have it labeled in the previous chart, then the only two things it could be is:

-Wave (A) of a Zig/Zag
-Wave (1) of an Impulse

Counting it as wave (1) of an impulse doesn't really make sense due to the previous five-wave decline from the 2.1100 top that preceeded it. So the logical choice would be to count the rally as wave (A) of a zig/zag.

As far as trading this pair goes, I'm long now from 1.6733 with a targets at 1.7100 and 1.7400 trading what I have labeled as wave (5) of an impulse.

I think that there will be a high probability trade to the short side when this rally is finished. If the impulse count turns out to be correct, then a three-wave correction should ensue taking price back down to at least 1.60. There is also a good chance that I'm wrong though, and that the rally is not actually a five-wave advance, but instead just a correction in the larger down-trend. So in that case, taking the short-side would be obviously be a good trade. So basically, with both of those scenarios in mind I'm looking ahead to taking a short-trade when this market shows signs of turning.

aerocom · #**15518** (**permalink**) 08-04-2009, 08:58 AM

Quote:

Originally Posted by mike3gdc

Hello guys,

Can anyone tell me How do we count the whole rally from last year low? can we take it as ABC or we should count it as 1-2-3-4-5 ?

Thanks for the input.

Mike;

I would count the same as you A-B-C. I am expecting 5 of C to end in the 77.10 area after one more push up.

Good Luck.

mike3gdc · #**15519** (**permalink**) 08-04-2009, 09:28 AM

Mike;

I would count the same as you A-B-C. I am expecting 5 of C to end in the 77.10 area after one more push up.

Good Luck.

Hi aerocom,

As the chart below,do you think the final 5th of C can get to 77.11?could you please show me a chart with subdivision of last 5 of C?(or you agree with my counts below) and why 77.10?
Best,

Cheers

forexant · #**15520** (**permalink**) 08-04-2009, 09:53 AM

Quote:

Originally Posted by AyoBro

FXO, thanks for the 5th wave clarification

Ayobro

Hello, I am new to EW. So what wave are we in in ERU USD pair when it reached 1.4430? What time frame is used for determining EW? Is there an EW indicator for MT$?

Thank you

diver · #**15521** (**permalink**) 08-04-2009, 10:32 AM

AM E-MINI update. Nothing much different to add this morning. Market moves higher, shallow corrections and so on. Big breakout yesterday in Euro and oil as well as the S&P over the headline number 1,000. Will it stick? The "gap" Market referred to in past posts has been touched but perhaps not completely covered.

Any sell-off today near the close might be the start of a larger correction of some kind. We shall see.

diver · #**15522** (**permalink**) 08-04-2009, 10:40 AM

Interesting read.

Al Jazeera English - Focus - Why America is a bank-owned state

fazi · #**15523** (**permalink**) 08-04-2009, 10:56 AM

Quote:

Originally Posted by diver

Interesting read.

Al Jazeera English - Focus - Why America is a bank-owned state

interesting indeed

fazi · #**15524** (**permalink**) 08-04-2009, 11:39 AM

hmm - this correction may be over - It looks like a 5th of an extended 5th of the 3rd could be targetting 1.7080- 1.71 area (2.618 extension of wave 1 and 1.618 extension of 1`+3` of the 3rd)

edit: ahh - lovely - chart is completely unclear! - ok - changed the chart - 15m so you can`t see I-II-I`-II` sequence, but it looks better anyway

Patryk

aerocom · #**15525** (**permalink**) 08-04-2009, 11:41 AM

Here is what could possibly be going on with this pair. It is one count that I am considering since it would bring me close to the target area of 91.66.

In this scenario the cad-yen is in an irregular flat that will end in the 1.382 fib area of "a" for a target of 91.6. I admit I am relying on Neely (at least my interpretation of Neely) to arrive at this count and target.

Let me know what you think.

Good Luck.