Thread: Elliott Wave Trading Discussion

Us Dollar

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Chart UpdaTE

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I'm not sure where this count fits in with the bigger picture, but from looking at fibonacci measurements on the long term chart, as well as wave progression, and candlesticks, I can make a good case for a further 900 pip drop in price to test long term fibonacci support at 1.5592, and possibly lower...

This is one nasty bear trend that keeps dropping like a rock, and there is no sign of a candlestick reversal yet, which leaves me to believe there's more down side to be had...

Watch for this pair to drop further in October with bears eye-balling 1.5592 initially ..

I'm not sure if this wave "A" looks better as an ABC-X-ABC pattern, or the impulse I have labelled.. Either way, I still believe it is a large wave "A", thanks to the thrust in wave "B" ....

Wave "C" appears to be in the final stages of completion with the market needing to achieve one more low to complete wave 5 of "C" ....

I continue to look for a candlestick reversal to confirm an end to the bear trend, but so far it's not there, leaving bears in full control of the market...

Gold could retrace now to complete a flat correction of wave 4 minor
degree (blue). What is labeled wave B-pink comes near the 138% of wave
A-pink, a common fib-ratio for an expanded flat (around 1300). The move up
looks strongly as a phoney B-wave in my eyes, having no impulsive wave
structure, it is a three wave up-push.
The Alt sees wave 4 blue already completed.
Good luck to you all!

Gold weekly

Possible count. I expect the correction ongoing and there could be a possibility for a dip to buy... Good luck!

Hourly EURUSD

Difficult to count the DowJ. Here is a possible count though. It is likely that
we are in 4th wave correction now. As volume has been very low,
wave 1-yellow may be the strongest, wave 3-yellow already very week (for
an impulse) and wave 5 could be truncated or go up, despite of volume
problem, to the target mentionned in the chart.

DowJ

1. wave 3 in big 1/A, 2/B, 3/C
2. long wave c in irregular correction.

Dow Jones

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Chart Update

Originally Posted by marketwavez2

Dow Jones

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Chart Update

Thanks for the update! They are always appreciated

Originally Posted by Gregory McLeod

Thanks for the update! They are always appreciated

Dow Jones : ......... Today's rally



Thank you for your compliment ...........


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Originally Posted by 10frank01

Difficult to count the DowJ. Here is a possible count though. It is likely that
we are in 4th wave correction now. As volume has been very low,
wave 1-yellow may be the strongest, wave 3-yellow already very week (for
an impulse) and wave 5 could be truncated or go up, despite of volume
problem, to the target mentionned in the chart.

DowJ

Hey check out my S&P counts, daily and intraday. What do you think?

Check out the euro count:

Nasdaq

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Chart Result

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Gaps

( all are closed now )

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us dollar index, it will be staging a rebound as the entire minor 5 wave sequence is near completion.

Look for eu etc to drop/correct down as a result

Good luck

Usd/Cad

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Hmmmm .......... Which way ? .............

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Originally Posted by stanchiam

us dollar index, it will be staging a rebound as the entire minor 5 wave sequence is near completion.

Look for eu etc to drop/correct down as a result

Good luck

Yes you're right, but this rebound should be seen as nothing but a correction for Bulls to RE-ENTER

Thanks..