Thread: Elliott Wave Trading Discussion

Originally Posted by denrus

Has anyone heard about this? ....mainly leverage limit will be 10:1

CFTC Seeks Public Comment on Proposed Regulations Regarding Retail FOREX Transactions

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Originally Posted by American Trader

Yeah, that's certainly a possibility. Check out my recent post here a few minutes ago and let me know what you think. If the pair doesn't continue and accelerate to the downside in the coming days then it's probably wrong.

American-T

Judging by the divergence on both the Elliott wave oscillator and the slow stochastic, and the fact that wave(v) touched the channel that connected waves (ii) and (iv) with wave (iii), I think we have just completed a 5 wave impulse off of the 1.6456 high.

Originally Posted by apipintime

Judging by the divergence on both the Elliott wave oscillator and the slow stochastic, and the fact that wave(v) touched the channel that connected waves (ii) and (iv) with wave (iii), I think we have just completed a 5 wave impulse off of the 1.6456 high.

Well you certainly make a good case and I agree with you that this is a good highly probably count. The only reasons I don't have this as my top count though is because wave (iii) is quite a sideways affair, and waves (i) and v and (v) are sharp and steep declines which is usually not comparitively sound. This doesn't violate any EWP rules of course, but it does knock out some guidelines. In addition, the wave (iv) is much longer and wider than wave (ii), again knocking out the "right look" guideline.

But with that said, the count is definitely possible, I think for me, I'll wait for a break above 1.6295 before I make your count my top count.

So we'll see how it unfolds. We're both on the same page though in that the trend has turned down in the pair for the foreseeable future.

American-T
Elliott Wave Principle: Stock Market and Forex Analysis

Potential count on AUD/NZD.

Originally Posted by qsx

here is a close look at the terminal, which appears to have finnished.

edit2: price has fallen 50 pips, stops are at +1.

the terminal was PERFECT, but did not result in any kind of crash (and did not even get retraced).. stopped out for +1.

however chasing the SP market was a good idea as it has fallen over 1% today..

Originally Posted by Sean Hyman

Potential count on AUD/NZD.

Sean... That triangle count is invalid... Your wave "E" extends beyond the terminus of wave "C" -- That is a no-no

is major correction coming up?

Originally Posted by pacos

is major correction coming up?

I think we get one more test of the 1.4000 area for wave 5 of 1 and then a 500 pip bounce for wave 2.

Originally Posted by Sean Hyman

Potential count on AUD/NZD.

Hey Sean, here is my daily count for aud/nzd which would call for a fall for a beginning of the smaller wave 1 and larger wave C. I haven't followed this pair in many weeks so I don't have a position in it.

Originally Posted by EZCashDreams

I think we get one more test of the 1.4000 area for wave 5 of 1 and then a 500 pip bounce for wave 2.

Hi EZ,
we'll definitely try to break 1.4 again. we can even go lower, it all depends on how powerful your 4 (my b) is. Do you have the update for your EURGBP count? I think we're on the way to the parity. thanks, pacos.

Here is a look at the Daily Chart of EURUSD with a channel.

Notice the channel lines have acted as good support and resistance.

As mentioned on the previous chart...looking for 5 of 1 to come down to the 1.4000 area and touch the channel and then wave 2 back up to the line wave 4 used as resistance.

Originally Posted by EZCashDreams

Here is a look at the Daily Chart of EURUSD with a channel.

Notice the channel lines have acted as good support and resistance.

As mentioned on the previous chart...looking for 5 of 1 to come down to the 1.4000 are and touch the channel and then wave 2 back up to the line line wave 4 used as resistance.

Hey EZ,

Is that a fib channel?

Originally Posted by pacos

Hi EZ,
we'll definitely try to break 1.4 again. we can even go lower, it all depends on how powerful your 4 (my b) is. Do you have the update for your EURGBP count? I think we're on the way to the parity. thanks, pacos.

Hi Pacos

We are at a .382 retrace (1.4179) of wave 3 of 5 right now for wave 4. A .618 retrace would be 1.4270 and the low of wave 1 of 5 comes in at 1.4333.

So, if this count is correct then it should not go any higher then the 1.4333 (low of Wave 1). A good wave 4 retrace is .382 to .50 so I dont expect anything over 1.4223 (.50 retrace)

Thanks

EZ

Originally Posted by apipintime

Hey EZ,

Is that a fib channel?

Yes but the inside levels (Dashed Lines) are set at .25 .5 and .75. Not much different then the fib numbers .236 .5 .746 so not sure why they picked the first numbers i typed as the default numbers.

But it works

Originally Posted by EZCashDreams

Yes but the inside levels (Dashed Lines) are set at .25 .5 and .75. Not much different then the fib numbers .236 .5 .746 so not sure why they picked the first numbers i typed as the default numbers.

But it works

Where are you connecting the points? For some reason my fib channel looks very odd?