Thread: Elliott Wave Trading Discussion

Originally Posted by Arnaldo

Keep in mind that if we see 4616, the wedge formation will be a normal channel and this changes the picture. In this case a spike towards 1,47+something is a high possibility.

I dont think it would yet cause your connecting points I and III of the diagonal. This is just the throwover. But I agree, if this is a diagaonal 4616 would be the max. Any more than that and I would have to reevaluate.

Originally Posted by italm31

EDO,
I realise that but I count it as a leading diagonal.

Ok Italm ...

I'll give a look to this pair again during the afternoon ...

Good trading opportunity here...

Here is how Im veiwing the EUro right now. 4HR we see 5 up. The divergence on the ocsolators on 1hr chart seems to agree with the 5th wave perspectus.

Perhaps a last wave towards yesterday's high completing a double top that could ignite a bigger down move

The only problem that I see is that normally a wedge pattern is much more acute, the triangular form is outstanding and in this case.

Totally agree Arnaldo, pattern looks more as a channel as a wedge formation.

Eur/Usd
--------------------------------------
End of Wave 4 rally .......

interesting statistics, see spot 190

https://www.cia.gov/library/publicat.../2187rank.html

Originally Posted by kaori

The only problem that I see is that normally a wedge pattern is much more acute, the triangular form is outstanding and in this case.

Totally agree Arnaldo, pattern looks more as a channel as a wedge formation.

really? Would you mind drawing this channel for me cause I dont see it.

Looks as if EUR/GBP is joining the euro strength party. This is the 3rd time it has broken the upper line and seems to have a bit more strength this time.

Originally Posted by apipintime

While I agree completely that we are in an ending diagonal scenario with the Euro, I believe that we are only still in the process of completing wave 3. Here is how I see it:

I am with you on that one.
I also call it wave 3 (iii of 3, more specific).

Myself, I am flat, though.
Will wait for the clear signal that the upside move is done. I don't want to chase few pips.

Will short big time, once I have a confidence that EUR is toast.

Originally Posted by Big Mike

interesting statistics, see spot 190

https://www.cia.gov/library/publicat.../2187rank.html

WOW...USA dead last! Man... third world countries are ahead. If thats not prophetic, I dont know what is. Thank you Mr. Obama. Enjoy your caviar in your limozine ride! Don't let your people falling into the pits of poverty bother you.

Where is Canada on that list?

Originally Posted by italm31

WOW...USA dead last! Man... third world countries are ahead. If thats not prophetic, I dont know what is. Thank you Mr. Obama. Enjoy your caviar in your limozine ride! Don't let your people falling into the pits of poverty bother you.

Where is Canada on that list?

I believe it's #27

Originally Posted by Arnaldo

Perhaps I am the only one in town that is not seeing the ending diagonal. But I also didnt studied WS theory as well. What I can see on this charts is a upward channel similar to 3 or 4 that can be found in same pair during last 2 years. Seems to be quite common and doesnt guarantees a bearish outcome.

Pls, could someone explain me why this one should be bearish?

Arnaldo;
Perhaps this chart will explain.
EURUSD has still some room to grow, but limited.
We should see the final burst later today.

Originally Posted by apipintime

I believe it's #27

Thanx Apip. Well at least were positive...and ahead of Africa.

Still, Im not really reassured.
US buys most of our stuff anyways and they do so with a curency that will be worthless within a few years.
They go down, they will probably take us with them.