Thread: Elliott Wave Trading Discussion

Originally Posted by JahDave

Thanks for the input wavez. It's just where I think the Aussie is going based on my charting with fibs and wave counts. I do like looking at other people's perspectives but I only trade off my own charting and good, bad or indifferent, that's what I do.

Okay, now I see. You maybe right!
Good idea to trade your own trades btw.

Originally Posted by brindar

Nice count Brindar. At this point it could be a flat, 3-3-5 or complex. 2920 is crucial resistance. On a break we may have a 3-3-5.

It looks very much that we are in wave 3, impulsiv...

MYWAVES:

I will just look at the facts.
Trying to be unbiased.

I am not sure about your target of 0.95.
Seems high to me.

My chart looks bearish, BUT... I do not like the fact that AUDUSD is unravelling a little slow for the last 24 hrs.

Agree with you that 0.8874 will be the crucial level.
Once broken, we will know for sure.

Originally Posted by Mywavez

Okay, now I see. You maybe right!
Good idea to trade your own trades btw.

This B wave is even larger than I thought it would be, but I am still quite certain it's a B wave. This move down is not an impulse wave. Although at this point it could go down to the .8850 area to form a regular flat, but I'm leaning towards a running flat slanted uphill. It should be bottoming right now.

Maybe the correction is over... There is much resistance on 1.2920...
The fourth time the "attack" to get over fails... I know: My wave C-green has
a three wave look... On lower time frame you can give it a 5 though...(see second chart below)
If prices turn below the fat red line with the arrow, then (imo)
there is confirmation for a resuming downtrend...
Still, if this is a Wave B or a Wave 3 of higher degree is not
clear yet...More clarity around 1.2440 (60% area of the move up from
8 of june)



Can give a clear 5-wave structure to C-green...

Originally Posted by 10frank01

Maybe the correction is over... There is much resistance on 1.2920...
The fourth time the "attack" to get over fails... I know: My wave C-green has
a three wave look... On lower time frame you can give it a 5 though...(see second chart below)
If prices turn below the fat red line with the arrow, then (imo)
there is confirmation for a resuming downtrend...
Still, if this is a Wave B or a Wave 3 of higher degree is not
clear yet...More clarity around 1.2440 (60% area of the move up from
8 of june)



Can give a clear 5-wave structure to C-green...

your big w2 retracement is too shallow, how many % retracement?

this is what i am seeing, final w5 down to complete the move

CAD/JPY Daily Chart ----->

Still chopping up and down all over prior fib support at 81.95... Could be a rally hiding in there...

Ya, you may be absolutely right... The retracement is shallow (between 23.6-38-Fib) which is not uncommon, because: If it is a wave B or a 3 wave of higher degree... then surprises are to the downside... Good luck!!

The only problem I have with your counting (which is a nice work) is that it doesn't support MACD-Readings nor EWO-Readings (which are important in my counting style): Your wave labelled "v C/3" has a huge divergence with the one before labelled "iii" on the hourly... Nothing is cast in stone, market will tell, I never think that I know best, not even second best... :-) Good luck again!!

Originally Posted by stanchiam

your big w2 retracement is too shallow, how many % retracement?

this is what i am seeing, final w5 down to complete the move

This is my eurusd update with natural support and resistance levels. Or seasonal studies as some people refer to it, I kind of like that.

Also a Gann fan is drawn from the 1.30 top. Cycle days were 8/9/2010 and a 60 deg SQ9 date is due tomorrow from the low of 1877. But these cycle days can be off +/- 1 day as can s/r levels be off by a few pips.

And I must admid that I missed the 8/9 cycle day which alters my overall outlook a little.

EUR/USD Weekly Chart ------------------>

Originally Posted by Auditt05

This is my Loonie's chart

I think we are heading to a strong SUPPORT area..

Feedbacks are welcome as usual )

I think what I said is what happened exactly?

Originally Posted by brad_1199

EUR/USD Weekly Chart ------------------>

YES! Brad, that is exactly what I have in mind (for a while now). I must say that 2650 support is crucial for this scenario.