Thread: Elliott Wave Trading Discussion

Hi all

This is my first post so be kind

Originally Posted by Gray

Short term wave count. Not sure about wave b.....

Edit: short from 132.81....first target A/1=C/3 @ 130.76...second target C/3 = 161.8 x A/1 @ 128.99

Trade closed, both targets met

Total gain on the two target positions = 587 pips

I don't have a good count for wave 5 of C/3 at this point...It may be an ending diagonal ?? Looks to have more downside, but hindsight is a wonderful thing.....

here is another one for today only..

It appears as if the Dollar shorts are getting squeezed big time. Judging from this possible count, that is about to accelerate in the days/weeks/months ahead. Couple that with what looks to be a terminal thrust in equities, I think 2010 will be the year of the USD. Here is a look at Cable as general reflection of what I am talking about, as it appears to be about to commence it's most powerful thrust to the downside in a matter of days. Of course, this is just my opinion, but some food for thought nonetheless.

**Wave 5 in this count is a truncation(i.e. finished short of the wave 3 high), but I like its termination point, as it terminated right at the 50% retracement of the move from 2.0153-1.3500, which is a common retracement for a wave 4**

an excellent funnymental currency analysis piece for your reading pleasure..

Global Tactical Asset Allocation - Currencies @ ZeroHedge

I think we are in the final pop-up. I am looking at the 1.6475 area as a possible termination point for wave c of (ii) of 5, and will let price action determine a suitable short entry point.

Originally Posted by apipintime

It appears as if the Dollar shorts are getting squeezed big time. Judging from this possible count, that is about to accelerate in the days/weeks/months ahead. Couple that with what looks to be a terminal thrust in equities, I think 2010 will be the year of the USD. Here is a look at Cable as general reflection of what I am talking about, as it appears to be about to commence it's most powerful thrust to the downside in a matter of days. Of course, this is just my opinion, but some food for thought nonetheless.

**Wave 5 in this count is a truncation(i.e. finished short of the wave 3 high), but I like its termination point, as it terminated right at the 50% retracement of the move from 2.0153-1.3500, which is a common retracement for a wave 4**

You should see both your (v)3 and 5c-4 get taken out on new highs.

Truncations only occur in wave 5 and at the exact match. There is no failed wave.

Cheers,
Cyclon

Originally Posted by qsx

here is another one for today only..

qsx, great job on that trade. Awesome job!

Originally Posted by apipintime

Hey Pacos,

Well it looks as if we are both expecting a pretty substantial move up in the USD/CAD in the coming months. For me, I think there is sufficient evidence to suggest that we have put in this years low for the Loonie. There may be further corroboration to this in the charts of the DX and Oil(and soon to be equities). Thanks as always for your excellent chart work. Jay

We seem to be exploding nicely out of the wave c of 2 ending diagonal.

Originally Posted by Cyclon

You should see both your (v)3 and 5c-4 get taken out on new highs.

Truncations only occur in wave 5 and at the exact match. There is no failed wave.

Cheers,
Cyclon

Hi Cyclon,

As I mentioned, I will let price action determine a proper area to short. Would you care to provide some documentation to back-up the following assertion:
"Truncations only occur in wave 5 and at the exact match. There is no failed wave."

can somebody confirm if this is the correct EV count or not?

Originally Posted by apipintime

Hi Cyclon,

As I mentioned, I will let price action determine a proper area to short. Would you care to provide some documentation to back-up the following assertion:
"Truncations only occur in wave 5 and at the exact match. There is no failed wave."

Yes, of course that would be prudent.

I was referring to the further north boundaries above 1.70 since I am
apparently not seeing your count in my view.

I wrote it in my book. That's all the documentation I would be able to offer.

Cheers,
Cyclon

Originally Posted by Cyclon

You should see both your (v)3 and 5c-4 get taken out on new highs.

Truncations only occur in wave 5 and at the exact match. There is no failed wave.

Cheers,
Cyclon

Over the last number of months on the daily GBP/USD chart....it looks like some type of combination...like a zigzag and a flat or something.

See what you guys think.

Originally Posted by Cyclon

Yes, of course that would be prudent.

I was referring to the further north boundaries above 1.70 since I am
apparently not seeing your count in my view.

I wrote it in my book. That's all the documentation I would be able to offer.

Cheers,
Cyclon

Here is an excerpt from the Elliott Wave Principle by Frost and Prechter (pg 35) regarding truncations:

Originally Posted by Sean Hyman

qsx, great job on that trade. Awesome job!

not at all.. the position did not reach its intended target.

i cut two/thirds for b/e as price came back crashing, and let the other third open, which just closed for -10 pips.

today is a mess.. the SP500 is crashing again and the markets are upside down!