Thread: Elliott Wave Trading Discussion

Another dollar bullish...inverted head and shoulders pattern on USD/CAD hourly chart.

Also, the daily chart has broken its daily downtrend line too.

So two bullish signals.

Hourly candle also recently formed a bullish hammer candle too.

Originally Posted by Sean Hyman

Market, yeah I agree. The dollar could have a pretty big rally as stocks tumble. I will probably help the JPY overall too and bring many of these carry trades down like CAD/JPY.

So true.

I always love your charts. They are so clear.

I'm working on the chart u asked for market.

I think the big shocker coming down the pipe will be a falling dollar with a falling stock market. Which will compound the losses seen in equities.

Originally Posted by speculator84

I'm working on the chart u asked for market.

I think the big shocker coming down the pipe will be a falling dollar with a falling stock market. Which will compound the losses seen in equities.

speculator, if that were to happen...yes, that would be horrible.

Originally Posted by Sean Hyman

Another dollar bullish...inverted head and shoulders pattern on USD/CAD hourly chart.

Also, the daily chart has broken its daily downtrend line too.

So two bullish signals.

Hourly candle also recently formed a bullish hammer candle too.

ok Sean

What is your Target for this chart you just posted ?

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Originally Posted by marketwavez2

ok Sean

What is your Target for this chart you just posted ?

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market, my target would be off of the hourly charts. Here is is below.

Eur/Usd

Chart Update :

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Usd/Yen

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Chart Update ........

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Originally Posted by speculator84

Here you go marketwaves...

As promised Gold prices in euros. This one bullish chart.

Speculator

Bullish chart , ok ........

What is your target price ? ,,,,,,,,,,,

according to your chart ,
How much higher do you think it could go to ? ..... What target ?

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Still has higher to go. Be patient with Euro$

Good Luck.

Looks like one more down leg is in the works here. Be patient with Euro$. If inverse correlation remains, Euro$ will bounce.

Good Luck.

Update







Nice Work marketwavez....

I sold on The Gap side and Closed when it Break the SP A level... +10pips...

I have Close Eye on this Pair...

thanks

There seem to be the leading (or ending, if one takes the bigger picture as the A-B-C decline) diagonal either already formed or with one more leg down to be completed.

Diagonal week, the return....

Originally Posted by Ilovepippin

Diagonal week, the return....

pippin, though the diagonal is definately possible here, it should be in the other form.

the reason is that the diagonal can be either contracting or expanding.

in the first case the wave 1 is the biggest, the wave 5 is the smallest.
in the case of expanding diagonal the sequence is opposite, namely the wave 1 is the smallest, the wave 5 is the biggest...

Originally Posted by Ilovepippin

Diagonal week, the return....

What you're depicting counts as a double zigzag (or a series of 1st and 2nd waves, but that seems like a stretch). The leading diagonal would have been valid if we didn't have the last 5 wave move down. This leads me to believe that Aerocom is right to call for one more low in the Dollar Index.