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Thread: Elliott Wave Trading Discussion

  1. 03-20-2009, 12:04 AM #19216
    mgmforextrader
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    EUR/GBP

    Here is my take on EUR/GBP... looking on the daily chart it looks like we have just finished a big A B C correction and are starting on impulse wave 5 up, looking at the 6 hour chart I count 3 waves in what could be wave 1, 2, 3 of the first wave of 5 of a larger degree, when I go to the 45 min chart it looks like we might be looking for one more wave up to finish wave 3, which I look to end in the .9530 area....If we get that I'm looking to short it for a move in wave 4 to the .9100 .9200 area where I look to flip position for wave 5 ...... Looking for input, anybody else have charts on this pair.....Like to see others counts
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    Last edited by mgmforextrader; 03-20-2009 at 12:34 AM.
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  2. 03-20-2009, 03:16 AM #19217
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    My EURGBP chart. I have us in wave 4, but could be wave iii of 3 as well
    If this is wave 4, also looking for a retrace towards 9150

    Comments welcome.
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    Last edited by bvl; 03-20-2009 at 07:13 AM.
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  3. 03-20-2009, 05:23 AM #19218
    Vitalij
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    it seems that $ is about to retrace. looking carefully the potential setup which's occurring in major pairs, 5th-truncated
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  4. 03-20-2009, 05:38 AM #19219
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    Gold

    Possibility for gold...
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  5. 03-20-2009, 07:07 AM #19220
    eXitTrader
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    GBP/USD 30 Min

    I'm still looking for one more rally to complete wave 3. GBP/USD (and others) finding support at the 38.2% retrace of what I have labeled iii of 3.
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  6. 03-20-2009, 08:12 AM #19221
    diver
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    Quote Originally Posted by Jeremy Demunter View Post
    Possibility for gold...
    Nice chart.
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  7. 03-20-2009, 09:02 AM #19222
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    Quote Originally Posted by bvl View Post
    My EURGBP chart. I have us in wave 4, but could be wave iii of 3 as well
    If this is wave 4, also looking for a retrace towards 9150

    Comments welcome.
    Goed gedaan!
    Now, a few comments mijnerzijds.
    The top of the chart, you have labelled 5, but should really be 5 of 3, because it was the end of a wave 3, fifth wave of 3.
    That makes the ABC down a wave 4. So currently we are in a wave 5 of bigger degree.

    That is ofcourse your count, I am not saying it is correct.
    Alternately we could be in a wave B right now.
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  8. 03-20-2009, 09:25 AM #19223
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    USDJPY

    USDJPY is making a move upward this morning as I thought it would... Lets see how high she gets... Bears, time to lock and load now or soon !
    Last edited by brad_1199; 04-09-2009 at 12:15 AM.
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  9. 03-20-2009, 09:27 AM #19224
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    Quote Originally Posted by brad_1199 View Post
    USDJPY is making a move upward this morning as I thought it would... Lets see how high she gets... Bears, time to lock and load now or soon !
    I'm watching too, buddy!


    I also took a small long position in EURUSD and GBPUSD for maybe 40-50 pips. It's my short-term mentality again. hehe


    Edit: Booked small profit on the long, then went short later... got more pips, I'm done. Watching the USDJPY for a short entry now. Maybe not today, but Sunday?
    Last edited by beeryboogy; 03-20-2009 at 11:04 AM.
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  10. 03-20-2009, 09:34 AM #19225
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    The Artist formally known as...

    Quote Originally Posted by brad_1199 View Post
    USDJPY is making a move upward this morning as I thought it would... Lets see how high she gets... Bears, time to lock and load now or soon !
    Hey Brad,

    Do you have any beautiful daily/weekly/monthly candlestick updates for GBP/USD, pertaining to potential weekly/monthly candlestick closes? As I am seeing a potential bullish engulfing weekly candle following a hammer from the week before.
    Last edited by apipintime; 03-20-2009 at 09:36 AM.
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  11. 03-20-2009, 09:45 AM #19226
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    USDJPY

    I haven't totally discounted this wave count yet... And it still remains a possibility...
    Last edited by brad_1199; 04-09-2009 at 12:15 AM.
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  12. 03-20-2009, 09:48 AM #19227
    mgmforextrader
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    EUR/USD

    Did anybody else use the nice a.b.c retracement on short term charts into the .50 fib @ 1.3620 to grab some pips....nice +80 pip move....I scalped a few....nothing major. This is great Elliott wave moves.....something beginners should be looking for, tho I don't usually recommend spending much time in that short a time frame....A great example tho of the wave pattern and fib relationship...wave 3 is 2.618 of wave 1 then wave 4 was .50 retracement of wave 3, wave a and c of 4 were almost equal length.
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    Last edited by mgmforextrader; 03-20-2009 at 09:51 AM.
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  13. 03-20-2009, 10:08 AM #19228
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    PIPIN CABLE

    Quote Originally Posted by apipintime View Post
    Hey Brad,

    Do you have any beautiful daily/weekly/monthly candlestick updates for GBP/USD, pertaining to potential weekly/monthly candlestick closes? As I am seeing a potential bullish engulfing weekly candle following a hammer from the week before.
    Pipin.. The Monthly Chart of Cable looks like it's trying to form a hammer... We may have a bottom in place here... Depends if the month can close leaving that hammer on the chart or not...
    Last edited by brad_1199; 04-09-2009 at 12:15 AM.
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  14. 03-20-2009, 10:11 AM #19229
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    attention, attention

    i am expecting a HUGE bear squeeze here..:
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  15. 03-20-2009, 10:14 AM #19230
    bbbats
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    More noobie questions

    Quote Originally Posted by eXitTrader View Post
    I'm still looking for one more rally to complete wave 3. GBP/USD (and others) finding support at the 38.2% retrace of what I have labeled iii of 3.
    Assuming wave v (of 3 of C) just started at 1.4393, and given that wave 3 cannot be the shortest wave, then this wave 5 must terminate before 1.4813, correct?
    I have wave i (of 3 of C) from 1.3843 to 1.4333 (490 pips) and wave iii (of 3 of C) from 1.4175 to 1.4595 (420 pips). So wave v has to be less than 420 pips...or my count is wrong...?
    Thanks,
    -B
    Last edited by bbbats; 03-20-2009 at 10:24 AM.
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