Thread: Elliott Wave Trading Discussion

Eur/Usd

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Long term

Updating ......

Originally Posted by mike3gdc

Hey ourson,you and other guys certainly followed the rules and guidlines on your expanded flat so did I on my bullish count...however,on top of the rules and guildlines,It was just abit of common sense I threw in for both parties!

this is like GBPUSD scenario 2 weeks ago,when Cable had a wild vertical spike from 1.5700 and some guys tried to force a new impulse into old correctve count.

Best,

Of course Mike, I get it. I was not forcing the count, but this is just a possibility I had not seen on the forum. Only time will tell.
Cheers,

Nzd/Usd

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End of Wave C

Hey Justy

Not sure u seen my charts, however what your view on cable after odays action.

JJ

Originally Posted by justy10125

Hi Forex Friend,

So far I'm still just watching things unfold, and none of the possibilities have been taken off the list yet. All of them require at least a three wave rally in either an (A-B-C) or a (1-2-3...) type sequence. So far all we have is waves (A-B) or waves (1-2) complete, so I'm still bullish on this pair for now.

-A move above the 23 October high of 1.6690 will make the rally a complete three-waves, so that's what I'm watching for.

-A move above the 05 August high will allow us to take several of those counts off the table.

-A move below the 13 October low of 1.5705 would negate all of these bullish counts.

What is your view on this right now?

Originally Posted by forex friend

Hey Justy

Not sure u seen my charts, however what your view on cable after odays action.

JJ

Hi JJ,

Yeah I looked at your charts and I agree, price could go either way. On the short-term there isn't anything really concrete enough to objectively base a trading decision on, so for now I'm just waiting and watching. When the charts are unclear, it just becomes a guessing game and I'm not much for risking my money on guesses... So, I wait...

The first chart is my longer-term view in which I'm still waiting for a corrective decline to unfold before price eventually continues higher. That correction could be over now or it could still be unfolding (as shown on the second chart).

Originally Posted by American Trader

FIY

With the stock market selling off sharply into the close I re-established my long USD/CHF position after being stopped out and then added a short EUR/USD position, both with tight stops just beyond the high of today.

More later....

American-T

I rarely re-enter after getting stopped out but the selloff in equities at the end of the day begged giving the dollar another shot on the short term time frames. I'm still dollar bullish in the coming months, and doubt a new low on the year will be acheived any time soon, but in the name of preserving profits I'm trying to place stops strategically. I'm back long the dollar with the same USD/CHF positions and a new EUR/USD short, both with stops just below the extremes on the day:

USD/CHF stop at 1.0120
EUR/USD stop at 1.4915

If I'm stopped again it does not change my long term bullish outlook on the dollar. Only a break of USD/CHF 0.9609 would alter my bullish view.

American-T

Justy Take a look at the chart below on gbpjpy, i think theres a low risk oppertunity for a long against 14890.

whats your thought s on this pair.

JJ

Originally Posted by justy10125

Hi JJ,

Yeah I looked at your charts and I agree, price could go either way. On the short-term there isn't anything really concrete enough to objectively base a trading decision on, so for now I'm just waiting and watching. When the charts are unclear, it just becomes a guessing game and I'm not much for risking my money on guesses... So, I wait...

The first chart is my longer-term view in which I'm still waiting for a corrective decline to unfold before price eventually continues higher. That correction could be over now or it could still be unfolding (as shown on the second chart).

Originally Posted by justy10125

Hi JJ,

Yeah I looked at your charts and I agree, price could go either way. On the short-term there isn't anything really concrete enough to objectively base a trading decision on, so for now I'm just waiting and watching. When the charts are unclear, it just becomes a guessing game and I'm not much for risking my money on guesses... So, I wait...

The first chart is my longer-term view in which I'm still waiting for a corrective decline to unfold before price eventually continues higher. That correction could be over now or it could still be unfolding (as shown on the second chart).

So far, the last move is counting nicely as an A-B-C.

Hey Everyone,

Elliott Wave International is offering it's free week starting today. Here is the link. Enjoy.

Here's an update to the USD/CHF count I'm following. A wave (B) flat may be nearing completion.

Originally Posted by forex friend

Justy Take a look at the chart below on gbpjpy, i think theres a low risk oppertunity for a long against 14890.

whats your thought s on this pair.

JJ

I don't have much of an opinion on the GBP/JPY at the moment. On your chart there is a definite five-wave rally [the one you have labeled as (iii)] which adds some strength to your bullish count. The only thing that is questionable is that wave (i) is in three waves. (?)

Thanks, is the currency service in free week as well?

jj

Originally Posted by apipintime

Hey Everyone,

Elliott Wave International is offering it's free week starting today. Here is the link. Enjoy.

Originally Posted by apipintime

So far, the last move is counting nicely as an A-B-C.

Or maybe a five...

Thanks Justy, Anyone else out there got a count on Geppy!!

Q where are you , your normally on it?

JJ

Originally Posted by justy10125

I don't have much of an opinion on the GBP/JPY at the moment. On your chart there is a definite five-wave rally [the one you have labeled as (iii)] which adds some strength to your bullish count. The only thing that is questionable is that wave (i) is in three waves. (?)

Originally Posted by justy10125

Or maybe a five...

Maybe, but I count your wave (i) as a 3, and I find the symmetry of A and C, and the fact that they could be separated by a triangle, a pretty compelling case for an A - B - C.