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11-08-2009, 12:35 PM
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Quote:
Originally Posted by VINCY BALBOA
hey JR
have a look
That chart flat C Ex-it to my First Chart Zigzag C correction..
cheer vincy |
hii my boss i thing AB bigeer than BC PLZ CHIC IT THANKSS MY BROTHER |
11-08-2009, 12:55 PM
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Cable connundrum!
Quote:
Originally Posted by justy10125
No I can't really show a more detailed count. Nobody can. If you look at a shorter-term time frame of that area, there is too much back and fill for anybody to really count that move. Any attempts to do so are nothing more than random guesses, and I try not to do that because it's too innacurate. In my opinion, random guessing takes the objectivity out of Elliott Wave and doesn't offer any 'edge' in determining future paths of the market.
That being said though, if you take a step back and look at the larger time frames, like a 60 minute or so, you can see the rough outline of a five-wave decline. Of course when the market is choppy like it is there, there is always more interpretations of what could be happening and it's anybodies guess. In those instances I just like to choose the simplest one.
How are you counting that decline?
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I had a very difficult time with that decline for the reasons that you mentioned. I am reposting a modification to my original 4 hr chart that I posted, along with a 30 min chart of the recent upmove. I tend to make things more complex than need be, and a possible completed B wave flat does make sense from a time perspective as well. |
11-08-2009, 12:59 PM
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Quote:
Originally Posted by MrWilson
Hi Jay
The a simple closing chart has a nice clean 5 wave pattern & some ratio' relationships...?
From the GBP thread the other day...  |
Hi MW,
It certainly does. Thanks for that I take it a break of 1.6740 would clear up the Delta picture as well? |
11-08-2009, 03:40 PM
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Cable,
Quote:
Originally Posted by apipintime
Hey Ed,
Could you break down your 'c' of 'B' on a lower time frame? Thanks.
Edit: This is how I am seeing it at the moment.
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Hi Jay,
The way justy has shown on his chart is the exact count i have.
I've seen your break down, you have labled the "a" as with the trend& again "a" as counter trend,
to me that can't be right.
wave Bs are counter trend move.
Ed, |
11-08-2009, 04:00 PM
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Cable
Quote:
Originally Posted by Edward16
Hi Jay,
The way justy has shown on his chart is the exact count i have.
I've seen your break down, you have labled the "a" as with the trend& again "a" as counter trend,
to me that can't be right.
wave Bs are counter trend move.
Ed,
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Hi Ed,
Yeah, I modified the count for a number of different reasons, to the last count that I posted. Just making things unnecessarily complex, due to not being able to come up with a concrete count for the wave in question. How are you counting the move up from the B-wave low on your 4 hr chart? |
11-08-2009, 04:05 PM
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Quote:
Originally Posted by Edward16
Hi Jay,
The way justy has shown on his chart is the exact count i have.
I've seen your break down, you have labled the "a" as with the trend& again "a" as counter trend,
to me that can't be right.
wave Bs are counter trend move.
Ed,
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Actually, during an impulsive move, the b-wave of the correction will be with the trend and the 'a' and 'c' waves of the correction will be countertrend. |
11-08-2009, 05:46 PM
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Cable Update
Quote:
Originally Posted by apipintime
I had a very difficult time with that decline for the reasons that you mentioned. I am reposting a modification to my original 4 hr chart that I posted, along with a 30 min chart of the recent upmove. I tend to make things more complex than need be, and a possible completed B wave flat does make sense from a time perspective as well.
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We have broken above the top of the triangle and look to be in the meat of a wave 5. |
11-08-2009, 06:28 PM
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Gbp/Usd
---------------------- -----------
Close the Gap ......
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11-08-2009, 06:50 PM
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Gbp/Usd
pg-2
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Close the Gap
-----------------------
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11-08-2009, 07:05 PM
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Gold Bugs
Well, I see 5 waves up (if you consider the 5th truncated) so we could be seeing a short term top. The bullish case looks for a move back to 1050 before resuming up trend....the bearish case calls for a whole lot more.
I also heard that an all time record was set for long gold contracts....contrarians could be ready to pounce!
__________________
Chemistry....It's Elementary!
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11-08-2009, 08:15 PM
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Cable Update
Quote:
Originally Posted by apipintime
We have broken above the top of the triangle and look to be in the meat of a wave 5.
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Wave 5 complete or just wave (i) of 5...
Edit: I think it wants to target the 1.6693 high, and I have the 100% Fib extension of 1-3 from 4 at 1.6705(also the daily R2 pivot and the 38.2% FE from larger degree 1-3 from 4).
Last edited by apipintime; 11-08-2009 at 08:26 PM..
Reason: other targets
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11-08-2009, 09:14 PM
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Quote:
Originally Posted by Zero Gravity
Well, I see 5 waves up (if you consider the 5th truncated) so we could be seeing a short term top. The bullish case looks for a move back to 1050 before resuming up trend....the bearish case calls for a whole lot more.
I also heard that an all time record was set for long gold contracts....contrarians could be ready to pounce!
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Anothet case for you man!
Nice day! |
11-08-2009, 09:34 PM
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GBP/USD
Hey Guys,
The GBP/USD is pushing up against that inverse head and shoulders neckline, so let's see if price can continue higher over the next several days.
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11-08-2009, 09:36 PM
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Picking Tops
Quote:
Originally Posted by duyman
Anothet case for you man!
Nice day! |
It looks like we agree on the charts through wave 3.....i do like your labling of wave 4, leaving wave 5 to be more impulsive rather than truncated... In either case it doesn't look like we will be seeing much over $1,100 before a move back down to test the wave 1 high.
Good luck!
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Chemistry....It's Elementary!
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11-08-2009, 09:45 PM
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EUR/USD
The EUR/USD has managed to rally a few hundred points over the last week keeping that EW channel line intact. Based on the count below I expect price to continue higher for another week or so.
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