Thread: Elliott Wave Trading Discussion

Originally Posted by bluebottle

Hi Sean and Marketwavez,

Thanks a lot!!!

here is my update for gbp/usd h1 chart which i posted here earlier.

You're welcome bluebottle. You're doing a great job! Keep it up. We need charts like this on here.

Hello guys,
Here is my UsdCad chart update.
I think Cad just completed the wave B or 2 low.
Stops@ 1.245.

Ed,

We should be very near the bottom.
My 1st target was missed by 3 pips.
Was it a succesfull trade?? hmmm... gain of 94 pips!
If the pair rally over 1.0117, I anticipate a USD rally which lasts few days.
Today is the maximum time target for Euro top and Usd bottom.

Ed,

Originally Posted by Edward16

We should be very near the bottom.
My 1st target was missed by 3 pips.
Was it a succesfull trade?? hmmm... gain of 94 pips!
If the pair rally over 1.0117, I anticipate a USD rally which lasts few days.
Today is the maximum time target for Euro top and Usd bottom.

Ed,

Hi Ed;

Maybe you gave up too soon. I expect a small rally in the $chf but, ultimately a drop closer to 1.00. C=A at 1.0019. I have a buy order at 1.0030.

Conversely, I expect the Eur$ to pull back and then rally closer to the .786 fib. My thinking, the turn should be closer to the 5220 range but I don't expect it to go above 1.5240.

Good Luck.

Originally Posted by aerocom

Hi Ed;

Maybe you gave up too soon. I expect a small rally in the $chf but, ultimately a drop closer to 1.00. C=A at 1.0019. I have a buy order at 1.0030.

Conversely, I expect the Eur$ to pull back and then rally closer to the .786 fib. My thinking, the turn should be closer to the 5220 range but I don't expect it to go above 1.5240.

Good Luck.

Hi aerocom,
I was reffering to my first target @1.0090., based on the fact that 1.0088 is the 1.272 EX RET. and we should see a USD rally if she goes over 1.0117. Then a drop to 1.0033 (1.618 EX RET) and that is where i see the bottom!!

Ed,

When/IF a head and shoulders fails to break a neck line. Then look for the right shoulder to be taken out and a closed candle above that shoulder. Then you can go long.

However, if the neckline were to break and close below it...that's what validates the H&S pattern and gives the target. Target is not in effect until the neck line breaks and the pattern completes.

By the way....

Any questions about the new dailyfx site...you can feel free to ask them here: http://forexforums.dailyfx.com/dailfx-com-new-improved/

Originally Posted by p3k

Thanks you Sean, for all your work in here!

Attachment 39508

Would you consider a 5 wave drop forming wave A so far?
That may put wave B around 1,7780 and wave C 1,7460.

Thank you.

Chart update from yesterday.

Originally Posted by p3k

Chart update from yesterday.

p3k...just wanted to say, "Welcome to the trading community". Good to have you here and your valuable posts.

Thanks for participating. I look forward to seeing even more of your posts.

Hey guys,
I think 1070.80 was the final top for the gold.
It may go to as high as 1105 (1.272 EX RET)and that is it!!!!
Bears all on bord!!!
Minimum target is to at least retest the yellow line!

Ed,

Originally Posted by Sean Hyman

When/IF a head and shoulders fails to break a neck line. Then look for the right shoulder to be taken out and a closed candle above that shoulder. Then you can go long.

However, if the neckline were to break and close below it...that's what validates the H&S pattern and gives the target. Target is not in effect until the neck line breaks and the pattern completes.

By the way....

Any questions about the new dailyfx site...you can feel free to ask them here: DAILFX.COM - New and Improved! - DailyFX Forum

Hi Sean,
I think the long trade is much high probabilty trade that short.
If you look at the daily and weekly, you would see the 5 wave rally is wave A and then 3 wave decline (wave B). if this is the case wave C rally is next!

Just my 2 cents.

Ed,

Originally Posted by Edward16

Hello guys,
Here is my UsdCad chart update.
I think Cad just completed the wave B or 2 low.
Stops@ 1.245.

Ed,

I have moved my stop to 1.0328.
Trade is already in profit total of 650 pips in 4 positions!
Not bad for a days work!

Ed,

Dollar index ending diagonal soon (3-3-3-3-3) ???

Originally Posted by Edward16

I have moved my stop to 1.0328.
Trade is already in profit total of 650 pips in 4 positions!
Not bad for a days work!

Ed,

Hi Ed.. I took the little ride this morning myself...looking for 1.0500... That would be a 38.2 % retrace of wave 3 and C would Equal A. Notice the divergence between A and C on the oscillator.

I may take a short for Wave 5 down wit small position..


Updated chart from last week ... With the holiday colors of course...

Originally Posted by EZCashDreams

Hi Ed.. I took the little ride this morning myself...looking for 1.0500... That would be a 38.2 % retrace of wave 3 and C would Equal A. Notice the divergence between A and C on the oscillator.

I may take a short for Wave 5 down wit small position..


Updated chart from last week ... With the holiday colors of course...

Happy Halloween to you too!!!
Saxo bank is calling for short from 1.0490! You know what that means. hehe...

Ed,

1st target reached @ 1.0490.

PS;Hey guys i think if Euro drops below 1.4898, Usd rally may continue for days to come!

Ed,