Thread: Elliott Wave Trading Discussion

Originally Posted by Gray

Hi AyoBro

Here is another possability after my primary count was invalidated when wave 4 entered the territory of wave 1. This chart was posted 16 April and would mean the bigger picture correction to .7324 is not over and eventually we are headed above that...Just another Posssibility

Hey Gray, you chart just confirmed my thoughts about the truncated 5th, it looked like a ending diagonal but with all the mess(complex correction) the count looked a little different.

Bro

Well now, this long winded correction that we have been waiting for may have finally ended....

Just a quick note on something that has worked for me several times on the USD/JPY. I know this is quite basic but it works real well with this pair. It has turned out very profitable for me to just wait for lower highs and lower lows in this pair and just trail my stop until a new high breaks the sequence. Sometimes keeping it simple is the best strategy. My stop now is at 99.00 but I'll drop it to 98.50 shortly.

American-T
http://principleanalysis.blogspot.com/

The EUR/USD (see 1hr chart) also appears to be in a downtrend, but the EWP count/structure is unclear to me. A break of the support shelf at 1.2980 should signal the next move lower is underway, which could be some type of wave 3 at multiple degrees. I'll add to my current short position on a break of 1.2980 with a stop at 1.3410.

American-T
Stock Market and Forex Analysis using Elliott Wave Principle

Here is my attempt to count the price action so far:

Originally Posted by Grin

Ravno, here's a thorough description.., http://stockcharts.com/school/doku.p...nd_shoulders_t

Here's a good resource for chart patterns.., http://stockcharts.com/school/doku.p...nalysis:chart_

Thanks.

Guys, except the Head and Shoulders, what are the other patterns, which have to do with Elliott Waves ?

fasten your seatbelts..

GBP seems to be "running out of time" to make new lows. ITD 9 upmove may have already begun as I suspect.

Regardless what the GDP result is, I don't think it's going to affect that much like many people think.
Dollar Index is rolling over as projected last time. Broad based dollar trashing (including USD JPY) should continue until next week.

GBP has a good chance to take out 5067 IMO, but let's wait to see the daily closing candle to be more sure.

Hi everyone,

If wave C on this chart is counted correctly, we should see price go higher in 3 waves. There are allready 3 waves up visible, but I think this is a smaller wave A.

Friendly greetings

Originally Posted by Jeremy Demunter

Hi everyone,

If wave C on this chart is counted correctly, we should see price go higher in 3 waves. There are allready 3 waves up visible, but I think this is a smaller wave A.

Friendly greetings

J,

I like your gold work. My trade got stopped out and was off target. I have the same down trend line as on your chart and expect it to hold at least the first time around.

I have the silver and gold market targeting a trend change (turning point)today. With the large rally the last few sessions it would indicate the market going lower from here. I think that would play into your count of the small 3 up being possibly complete.

Here's a nice R/R trade if my count is correct. Wave 1 is just above what I have labeled as wave 4. I'm short risking a few pips that my count is not invalidated. The chart is NZDUSD 4 hour. Stop loss is @ .56924, profit stop is @ .52200.

My count has been holding up pretty well. We failed to break through 1.29.
Few days ago I posted this chart and on the 4h chart I always look for confirmation of the MACD. If the MACD crosses deep, it usually means a big move up. At the Cross, usually a wave 1, there is always a pullback wave 2, then is the time to enter your trade. Since I started this strategy I have won over 80% of my trades.
Here is an example shown. MACD crosses, wait for pullback, confirm uptrend, enter trade with stop below start of wave 1.
Made 400 pips so far. So, where are we now? We broke 1.3100 and a retest held up very well making 1.3100 good support. 1.33 could be the end of a wave 3, but I expect to go to at least the top of the trendchannel at 1.3350.
MACD is still very bullish.

How are the financials doing?
Here is a count for Citigroup.
If this is right we are at the brink of a bigger uptend, start of wave 3 or C.

Originally Posted by Ilovepippin

My count has been holding up pretty well. We failed to break through 1.29.
Few days ago I posted this chart and on the 4h chart I always look for confirmation of the MACD. If the MACD crosses deep, it usually means a big move up. At the Cross, usually a wave 1, there is always a pullback wave 2, then is the time to enter your trade. Since I started this strategy I have won over 80% of my trades.
Here is an example shown. MACD crosses, wait for pullback, confirm uptrend, enter trade with stop below start of wave 1.
Made 400 pips so far. So, where are we now? We broke 1.3100 and a retest held up very well making 1.3100 good support. 1.33 could be the end of a wave 3, but I expect to go to at least the top of the trendchannel at 1.3350.
MACD is still very bullish.

Thanks pippin, I will have to take a look at that MACD.

Freaky Friday is in full bloom, and Cable is having a full blown identity crisis!