Thread: Elliott Wave Trading Discussion

Intraday charts would indicate that we should get a pull back soon on the Pound, but not before 1 more break to 2.04 or below for the i of iii of 3 if my count is correct.

Looking at the dollar index, even if we're in a correction, looks like we still need another leg up in a c wave. If it goes too far we may be looking at a reversal of bigger degree.

I must say....I have had a horrible last month with my analysis. I think the only thing that I have called (correctly) is the USDCAD. This can only mean that things will get better. Italm....nice call on cable. I'll be back with charts.

I don't want to bite the bullet..USDJPY should be in B..and C should bring it to 38.2 again or 50.0

But ..then again..maybe not.

Originally Posted by Jamie Saettele

I must say....I have had a horrible last month with my analysis. I think the only thing that I have called (correctly) is the USDCAD. This can only mean that things will get better. Italm....nice call on cable. I'll be back with charts.

Hi Jamie , just wanted let you know I appreciate your honesty in saying this ............
- Not all wave counts work-out .......


That's why we should look to our individual Averages over time .
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Originally Posted by Jamie Saettele

I must say....I have had a horrible last month with my analysis. I think the only thing that I have called (correctly) is the USDCAD.

Yeah but August and September were outstanding...

Originally Posted by Jamie Saettele

I must say....I have had a horrible last month with my analysis. I think the only thing that I have called (correctly) is the USDCAD. This can only mean that things will get better. Italm....nice call on cable. I'll be back with charts.

Don't worry too much Jamie, we're in a period of possible reversals, so it tends to be harder.

I think you nailed the Cad right at the bottom finally Jamie. One thing that I heard was that UBS was panicking and telling customers to cut loss on their Long Cad positions, this happened ages ago before Cad fell they asked customers to cut losses on their Shorts. They do play dirty but it's useful, we might have seen the bottom on Usd/Cad for a while.

Originally Posted by marketwavez2

Usd/Cad
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Looks like Jamie nailed this Usd/Cad trade set-up from the close of Friday

So far so good !

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Here is the link ......
Read what Jamie Seattle is saying about the direction of the Usd/Cad
Click here
http://www.dailyfx.com/story/special...640050672.html

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Jamie ,
the Canadian Dollar is up about 380 pips since your call
and and full week has not gone by yet ............ Good job !

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Hey Jamie,
I don't think you had that bad a month. As far as the cable goes, I was just very bearish thats all. You were looking at it through a bull'e eyed view. Your count looked excellent. If I didn't already have a stake, open yesterday, I would have gone long, put my stop at 2.0640 and when it got hit, opened a short position. It could have gone either way. Like I said, the big picture influenced my position.

With that said, bottom line...WHO CARES! Yesterday has come and gone. Tomorrow is not here yet. Focus on now. Where are we. Thats all I care about. Lets get to work guys. The dollar bull has just begun and the majority don't even know it.

BTW, great call on the USD/CAD

I have been sticking with the bull count in the EURUSD but wanted to show my alternate because the count is just as good I think. It has us in wave C down...probably towards 1.42/1.43. The possible triangle in wave B is what makes me think that this count could be the correct one. If you are bullish though (and in at a good price), then there is no reason to abondon your position yet.

USDJPY should have one more leg down if it's a C to have 5 waves...

If this is an impulsive wave rally..then it would throw off all my longer term counts..

Here is the Canadian Dollar Update for today
( We had a another spike overnight )
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Originally Posted by italm31

Intraday charts would indicate that we should get a pull back soon on the Pound, but not before 1 more break to 2.04 or below for the i of iii of 3 if my count is correct.

Heads up guys,
I suspected the this very minor correction in the Pound to be a wave iv of I of III but its gone on far too long. I think were about to get into iii of III of 3. A break below 1.0437 may be the kicker.

As far as the Cad/Jpy goes, here is an update of my chart yesterday. The count suggests us to be in a wave V of 1 but by looking at the intra day minor charts, wave V may be extended. We appear to be in wave iii of V which I had a projected target of 113.46. We've already passed that fairly easily but it has retraced back to that level. Is wave iii of V over? Who knows. But I don't think so. One thing I do know suspect is I don't think well get a wave V truncation because wave iii as come down so far. A III extreme (red) was at 112.50. We've already gone as far as 112.88 in wave iii of V so far.
Heres what it looks like to me.