Thread: Elliott Wave Trading Discussion

Originally Posted by broyboy

How about this? I have a spike down to 60.74 that you may be missing for some reason?

Hey Broyboy,
Thanks for the chart. I dont know why I dont have that spike down. Either way, I think your wave 3 is still shorter than 5 for its still a no no. I dont trade oil. Was looking at the chart just to try and see if price is giving clues as to what may happen with USD pairs...especially Cad. ALready, we see oil going to new highs, without Cad support. I dont think that is sustainable. Lets wait and see.

Guys,
Keep an eye on Aussie. At the end of the trading day, I put forth a count of an ending diagonal perhaps playing out on the 4hr chart. I was waiting for overshoot to short it, but never got it. Meanwhile, we have a bearish engulfment followed be another down candle. We havent broken the 2-4 trendline yet but its being used as support for the time being. If we can break below it, then we should have at least a short term top. Maybe even long term but lets take it 1 step at a time.

Hey guys,
According to the count I follow cable has almost run out of steam:

Originally Posted by italm31

Guys,
Keep an eye on Aussie. At the end of the trading day, I put forth a count of an ending diagonal perhaps playing out on the 4hr chart. I was waiting for overshoot to short it, but never got it. Meanwhile, we have a bearish engulfment followed be another down candle. We havent broken the 2-4 trendline yet but its being used as support for the time being. If we can break below it, then we should have at least a short term top. Maybe even long term but lets take it 1 step at a time.

Guys check out the Aussie. Price has broken the 2-4 trendline. Im looking for the decline to accelerate now. Stochastics is also suggesting a shift of momentum is now to the downside.

Here is a trading idea - I have not posted any for a while:

Originally Posted by italm31

Guys check out the Aussie. Price has broken the 2-4 trendline. Im looking for the decline to accelerate now. Stochastics is also suggesting a shift of momentum is now to the downside.

Morning Italm,

I see a snake on your chart,his tail is the elongated I,and head,mouth and all the rest is ii,iii,iv,v.

they are not proportioned.no problem?

I think you're right,we should have atleast some short-term pull back.also mind the FTSE this morning.he is acting funny.and sounds reversal as I showed a chart yesterday morning.

Morning all

Do any of you guys have a short term count on cable on this move up from last weeks 1.5700 low ?

I can get a 5 wave count to this mornings high but would appreciate a second opinion from the specialists

Thanks

Guys,
The count below shows a complete wave sequence ending with a textbook diagonal:

Originally Posted by JohnG_FX

Morning all

Do any of you guys have a short term count on cable on this move up from last weeks 1.5700 low ?

I can get a 5 wave count to this mornings high but would appreciate a second opinion from the specialists

Thanks

Though I do not put myself in the above mentioned category, here is what I see on the cable hourly chart - one more high /or possibly truncation is needed/ to open the floodgates:

Originally Posted by freelancer

Though I do not put myself in the above mentioned category, here is what I see on the cable hourly chart - one more high /or possibly truncation is needed/ to open the floodgates:

Thanks freelancer

Originally Posted by mike3gdc

Morning Italm,

I see a snake on your chart,his tail is the elongated I,and head,mouth and all the rest is ii,iii,iv,v.

they are not proportioned.no problem?

I think you're right,we should have atleast some short-term pull back.also mind the FTSE this morning.he is acting funny.and sounds reversal as I showed a chart yesterday morning.

Mike,
If this is a major top, there is not a problem with wave I being elonged. I did not put the ending D into context. Sorry about that. It may actualy be a wave 5 so I of 5 is not as elongated as you think.

Hi Italm,
This pair is tracking down well as you had prodicted. What are the targets in short term to cover shorts? Cheers San

Here is an update of Silver from the post earlier on.

Originally Posted by freelancer

Guys,
The count below shows a complete wave sequence ending with a textbook diagonal:

Hello to everyone,
Now you talking freelancer!
Nice chart!!
Ladies & Gents,
Buckle up for USD rally!!!!
This ending diagonal is the chart i posted yestarday and i insisted to go have a look at EWP fig.1-18 as being a text book E.D.
But I think some people in this forum get stuck too much in details and forget we are in this for making money.
I just leave the details for the analysts who don't trade at all.
As long as the EW RULES are respected is good enough for me.
Trying to keep it as simple as possible.
If i can't identify the waves which correspond to the RULES & Guidelines, Just move on.

Ed,

Originally Posted by SKS

Hi Italm,
This pair is tracking down well as you had prodicted. What are the targets in short term to cover shorts? Cheers San

Hi SKS,
Well logically, the first target coming off of an ending diagonal is where the ending diagonal began. Previous wave 4 is at 8980. That would be target number 1.