Thread: Elliott Wave Trading Discussion

Originally Posted by apipintime

Are you talking about this, with 1.3921 being the top of wave v of the leading diagonal?

yes it is pipin.
this diagonal can be either wave i of C(flat) OR wave (c) of iv (my primary count).

Originally Posted by bohebolo

yes it is pipin.
this diagonal can be either wave i of C(flat) OR wave (c) of iv (my primary count).

On the same wavelength. I posted these 2 charts a few hours back. Wave c of 4 is certainly a possibility:

Edit: By the way, if the B wave low is in at 1.3655, the 161.8% of wave A lines up identically with the 38.2% retracement area for wave 4 on the Daily chart. Just some food for thought.

Well making 230 pips in a day is good enough for me to lock in profits on my short. I took half my position off the table and put a stop loss above the support shelf that should now act as resistance (just above 98.55).

Took some profits on my long EUR/USD position too. The 15min chart is looking ugly for the short term bullish picture. Looking very toppish.

American-T

Next Resistance at 1,3000

Originally Posted by apipintime

On the same wavelength. I posted these 2 charts a few hours back. Wave c of 4 is certainly a possibility:

Edit: By the way, if the B wave low is in at 1.3655, the 161.8% of wave A lines up identically with the 38.2% retracement area for wave 4 on the Daily chart. Just some food for thought.

Pipin, pls see both chart below. Hope you will understand what i thought.

Originally Posted by bohebolo

Pipin, pls see both chart below. Hope you will understand what i thought.

I totally understand what you are thinking. The only variation that I have on the possible wave v of C of B that you are talking about, is that it ends in truncation. Time will tell. I am still targeting 1.60 area, as Cable is due for a substantial correction.

Originally Posted by apipintime

I totally understand what you are thinking. The only variation that I have on the possible wave v of C of B that you are talking about, is that it ends in truncation. Time will tell. I am still targeting 1.60 area, as Cable is due for a substantial correction.

yes, truncation is also a possibility..
well we just wait now

Originally Posted by bohebolo

yes, truncation is also a possibility..
well we just wait now

To determine which of the wave count is most probable, you also need to consider the state of other major currencies like EUR and AUD against USD. It seems that EUR and AUD have been quite bullish lately (you can see Jamie's EUR and AUD analysis at Dailyfx link below)

Euro Breakout Favored as Long as Price is above 1.2616

Something to consider: Is it possible for GBP to still make new lows below 3500 when other majors are probably ready to rally against USD.

Guys,
I do not have a decent count for that pair - but still think this is a valid trading opportunity as long as it penetrates 1.1680 /1h chart/:

Originally Posted by brad_1199

Here's the USDCHF Daily Chart... I'll look to short this pair on a daily close below 1.1560... Likely tomorrow... Or we may see one more small intra-day bounce before coming under support for a daily close... Price is sitting right on top of temporary support, a daily close below there indicates additional bearish potential...

Hi Brad.

My charts are showing the USD/CHF closed at 1.155 on the daily so wondering if you decided to short that pair? Are you able to give me some guidance as to where you would place a stop should you enter at 1.155?

Thanks again.


Luke

Originally Posted by herman sucipto

I think EUR still going down target 1.2647

Please put some labels on your chart, so others can review and/or comment it.

I have a question, is it possible to have 5th wave extended (over shoot) in a diagonal.
wave v = 1.618 wave1-3
what do you think?

Originally Posted by bohebolo

I have a question, is it possible to have 5th wave extended (over shoot) in a diagonal.
wave v = 1.618 wave1-3
what do you think?

I wonder if something like this has occurred?

Originally Posted by apipintime

I wonder if something like this has occurred?

perhaps this is the case? - diagonal on your chart consists of zigzags, so it it fits as an ending diagonal as c of an expanded flat

Originally Posted by apipintime

I wonder if something like this has occurred?

apipintime

Geez... that looks like a good count...thanks for pointing it out bud.

regards