Thread: Elliott Wave Trading Discussion

Eur/Usd

Mid Term Views .............

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155 yesterday is probably ITD (Intermediate Term Delta) 5 low. In the past two cycles ITD 5 also arrived around this area (slightly after the red vertical line). If this is what is happening, Intermediate Term trend is UP for several days, perhaps reaching 160.

I am still of the view that 162.6 is a medium term top and long term top, so I still prefer short.

Also looking at Delta MTD (Medium Term trend) chart, MTD 7 low in the past two cycles were due on mid Aug and mid September. For this cycle, I am looking for at least mid August due date as well.

So while Intermediate Term trend is now UP, Medium Term trend is DOWN until mid August

Still keeping an eye on CADJPY for long term short positions... Price has experienced a hard fall after running into a strong resistance line... A top could be in place in this pair already... If price stays under the longer term declining resistance line and is forced through the shorter term rising channel to the down side, we will have bearish confirmation...

Originally Posted by brad_1199

Still keeping an eye on CADJPY for long term short positions... Price has experienced a hard fall after running into a strong resistance line... A top could be in place in this pair already... If price stays under the longer term declining resistance line and is forced through the shorter term rising channel to the down side, we will have bearish confirmation...

I've been long off that trend line..., hoping for the .50 Fib at 86.50...,

Originally Posted by Grin

I've been long off that trend line..., hoping for the .50 Fib at 86.50...,

You'll get it

Maybe something like this going on with GBPCHF....

Originally Posted by marketwavez2

See Here ...........

If anyone knows, can X be 5 waves, 3 waves(abc), any pattern? Or are there distinctive rules to what form it takes. I really would appreciate the feedback from anyone familiar with this issue, can it be a 5 wave move.

Here is an update of my swissy trade from a couple of weeks ago.

Here is a question for the group, "what is the longest you have held on to a trade?"

For me, it was from March to May of this year. I dislike the longer term trades because it basically blocks me out of trading that pair from the other side.

Originally Posted by kaori

would Like to know about Eli Wave It Does Work On Short Term.. if a Person Trade On 5 minute term Chart Basis's!!

That´s nice pictures.

To answer for your question if you would like to trade only 5 minute ew charts with no clue of any higher EW degrees at all, I think you would be out of the market in 5 minutes for rest of your life.

Sorry..

I am confused about Your Answer, ''OUT 5 minute'' What?

Please

Anyone following EUR CHF count? Seems like SNB has intervened at 1.5 level, and this would be a good level to buy.

Originally Posted by Trading4cash

If anyone knows, can X be 5 waves, 3 waves(abc), any pattern? Or are there distinctive rules to what form it takes. I really would appreciate the feedback from anyone familiar with this issue, can it be a 5 wave move.

only corrective

Originally Posted by Xiao

Sorry..

I am confused about Your Answer, ''OUT 5 minute'' What?

Please

I think what he means to say is that you should always look at EW charts of a larger time frame so you know the longer term trend.

Elliott Wave analysis does work on any time frame, and all the patterns are repeated infinitely in both directions, both smaller and larger. I sometimes number 5 minute, or even smaller charts to help me recognize patterns.

Originally Posted by Zero Gravity

Here is an update of my swissy trade from a couple of weeks ago.

Here is a question for the group, "what is the longest you have held on to a trade?"

For me, it was from March to May of this year. I dislike the longer term trades because it basically blocks me out of trading that pair from the other side.

Here's what I see on the monthly scale of USDCHF.... Could be a pretty chunky ride into the down side for a while to come yet....

Here's what may be happening on the daily chart of USDCHF..... >>>

Medium Term trend for USD JPY looks down to me. Linked by the arrow is the previous two cycles compared to the current cycle. MTD 7 low should be due in mid July.

IMO good opportunity to short USD YEN now, Stop Loss above MTD 6 high at 98.85. Seems like very few people are bullish Yen, huh?