Thread: Elliott Wave Trading Discussion

Gbp/Usd


Chart UPdate -------- Projected Wave C Low

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USDCAD 5 minute..., I'm long here with 25 pips at risk..., looking for 1.3000. I'm not sure of the count but it looks like a move upwards is likely in Loonieland..., but it's Loonieland so I'm not risking much.



*Boink* Never mind..., stopped out.

This is my updated view. I'm long at 1.1438 on a small lot. Initial stops have been placed at the "my count is wrong" price just behind 1.1278. I have an initial target set at 1.1880 but this will be managed as the pattern develops (*if* it develops). Currently looking for bullish confirmation on a 10-15 minute interval. This will allow me to move up my stop and provide an opportunity to add to the position.

As as side note, I'm not trading EUR/USD but have a similar count which is EUR/USD bearish. I'm looking for a drop below 1.2200, ideally 1.2134, before a large advance higher.

Way too soon for confirmation on my trade, but this is looking constructive at very short term intervals.

Originally Posted by kasiel77

This is a really big speculation so any comments are welcome.
First have a long term char with a counter suggestion and accord to it we can wait a big move in bearish almost to 60 to 53.
Attachment 25667

Now have a first step for the "WaveC" correction part, the "WaveC" correction almost always is formed for an impulsive wave form so waiting it. And with this consideration this may be the counter for "WaveI" and waiting a "WaveII" in minimum to 149 to 150, normal rally to 190 to 200 and maximum to 230.
Attachment 25668

Zoomed a litter have a possible leading diagonal formed for a rally to "Wave[a]" with follow metrics, minimum (truncated) 140.4, normal 144 to 145 and maximum 147.
Attachment 25669

And last this is a possible Ending diagonal for “Wavea”, and the beginning of the “Waveb” forming it first “Wavea”. The rally for “Waveb” is in normal ZigZag 138 to 139, for a Flat 140 to 142 in normal fashion.
Attachment 25670

If break the limit Wavea bottom at 135.5, may rally to 132, but waiting for a normal Flat correction.

Originally Posted by eXitTrader

Way too soon for confirmation on my trade, but this is looking constructive at very short term intervals.

If the daily close is below 1.156 (the top of the rising trendline), IMO it's bearish.

Partial profits taken...

Originally Posted by cmellon

If the daily close is below 1.156 (the top of the rising trendline), IMO it's bearish.

You may very well be right!

If the pattern unfolds under the count I am currently trading I actually do expect a close below 1.1560 today. The pattern and form is what I'm watching and I'll put more weight on that than I do closing price or trendlines. At the time I'm writing this, 1.1483 looks like a good place to add to longs if your bullish. (Though I think I'm the only one who is!) I'll manage this and post updates as the pattern develops.

Originally Posted by Grin

Is there an Elliot Wave forum that deals with the stock market? I'm not interested in specific stocks, rather general movements in the market.

Many thanks,

Grin

I sometimes update the Dow on my weblog.
I predicted the 6500 bottom a while ago and have found, interestingly enough, that the DJ index listens much better to EW than currencies do.

Stock Markets should begin a B wave now. May go to as high as 10000.
I am looking for a broker that offers stocks on their forex platform.
If anyone knows someone please recommend...

Seems to be playing out nicely....

Updated Chart from earlier today attached...

Originally Posted by eXitTrader

You may very well be right!

If the pattern unfolds under the count I am currently trading I actually do expect a close below 1.1560 today. The pattern and form is what I'm watching and I'll put more weight on that than I do closing price or trendlines. At the time I'm writing this, 1.1483 looks like a good place to add to longs if your bullish. (Though I think I'm the only one who is!) I'll manage this and post updates as the pattern develops.

Closed small lot trade 1 of 3 at 1.1541. ~+100 pips

Stops on 2 and 3 moved to 1.1420. Worst case scenario, overall net = ~+64 pips.

Looking for bullish confirmation and a place to add to the open positions. I'll post a chart update at the end of the day. GL to bulls and bears alike!

GBPJPY is primed for short positions Short stops can currently be placed above 137.04 plus cost of spread...

Originally Posted by Ilovepippin

I sometimes update the Dow on my weblog.
I predicted the 6500 bottom a while ago and have found, interestingly enough, that the DJ index listens much better to EW than currencies do.

Stock Markets should begin a B wave now. May go to as high as 10000.
I am looking for a broker that offers stocks on their forex platform.
If anyone knows someone please recommend...

Or, possibly one more selling climax to complete wave v of (v) of 1 or A. Will post a chart later.

Originally Posted by apipintime

Or, possibly one more selling climax to complete wave v of (v) of 1 or A. Will post a chart later.

Thanks! You're a gentleman and a scholar,