Thread: Elliott Wave Trading Discussion

Looks like we might be in for a wave "C" to fill the large gap still open on the hourly chart of GBPUSD...

Dollar Index

If it's a triangle that is unfolding in USD/JPY, then price should be rolling over any time now. Wave (C) is now complete as a W-X-Y.

Originally Posted by justy10125

If it's a triangle that is unfolding in USD/JPY, then price should be rolling over any time now. Wave (C) is now complete as a W-X-Y.

I'm looking for that triangle to play out in USDJPY as well, but it may still turn into a flat, both scenarios are still possible, we'll know shortly which it's going to be...

My EURCHF Chart..

some trade results.

my comments are.. first of all, the usdjpy was a bit of luck, as the triangle was wrong, and my stop could have got hit.
in the usdcad, there were no five waves down, so it was a trade without confirmation.. also it was countertrend against the bullish breakout.

now lets see how we can enter usdjpy short best..

left with:
gbpusd short 1,46532 / 10.feb.2009
nzdjpy short 47,80 / 15.feb.2009 / stop at b/e

Originally Posted by justy10125

If it's a triangle that is unfolding in USD/JPY, then price should be rolling over any time now. Wave (C) is now complete as a W-X-Y.

Very nice Justy. I managed to short at top of the range. Will hold it until 8800 like you said.

Originally Posted by cmellon

Very nice Justy. I managed to short at top of the range. Will hold it until 8800 like you said.

you know.. actually.. all counts call for a triangle (except some crazy flat mutation) to break lower (no matter what triangle, and in what position)
what i want to do is catch it now and hold it two months into the 60-65 area.. sounds alot better then 88, doesnt it

ok, here is my trade setup..

Originally Posted by qsx

you know.. actually.. all counts call for a triangle (except some crazy flat mutation) to break lower (no matter what triangle, and in what position)
what i want to do is catch it now and hold it two months into the 60-65 area.. sounds alot better then 88, doesnt it

ok, here is my trade setup..

Hey Q,

Do you have an updated Cable count?

Originally Posted by apipintime

Hey Q,

Do you have an updated Cable count?

well, there are a number of counts possible (c wave upwards for example), but here is my favourite atm..
but the last 5 to 1,41 look as if 1 and 4 intersect, so.. could be entirely wrong.

that gap still looks to confuse the market.. on one side it wants to close it, on the other there is some big downforce, so i guess we will have to wait and see what will happen..

Originally Posted by qsx

well, there are a number of counts possible (c wave upwards for example), but here is my favourite atm..
but the last 5 to 1,41 look as if 1 and 4 intersect, so.. could be entirely wrong.

that gap still looks to confuse the market.. on one side it wants to close it, on the other there is some big downforce, so i guess we will have to wait and see what will happen..

Maybe it wants to close that gap, as I have 5 up on the 5 min chart.

here some additional perspectives on usdjpy:

edit: hmm, looks to be a triangle, not flat, so the 5 waves down arent complete, yet.

Here is forecast of GBP USD using pattern recognition (Cognitrend), research done by Deutsche Bank

Looking for a sell opp in the 1.4400 area:

Originally Posted by apipintime

Looking for a sell opp in the 1.4400 area:

Hi

Just a thought on your labelling....

you have a large A wave which finished at 14980 ish, could where you have labeled (i) not be a B, and now C to complete the correction and a larger 4th wave...

Just a thought!!!

Good piping to you!