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02-09-2012, 12:58 PM #44446
Does anyone agree with the numbering of elliott waves for the attached Daily NZDUSD ?
Learn From Your Mistakes
02-09-2012, 02:54 PM #44447
I have a different preferred count on the price advance. But, I too think the advance has completed in 5. I the move down from the peak, I have exactly the same count as you. If you look carefully at the first move "a" you will see it stopped in the area of wave 4 then retraced before coming down in 5 for c. In my view that is a double retrace. The current move I am counting as a 3-3-5 which would make the next likely move down a zig-zag and the entire move a double zig-zag. At least that is what I am expecting. The next move should take the kiwi back into the area of 6500 and possibly lower.
Originally Posted by ashraf999
Actually the target indicated by the potential H&S pattern is the 66-6700 area.
On the up side, the c wave is near 138.2% of wave a which is 8439, and momentum has started to turn down. However, symmetry in the H&S pattern where the left and right shoulders are balanced is 8504. Other ratio's to watch are the 141.4 in the area of 8465 and extreme 161.8% at 8622.
Last edited by aerocom; 02-09-2012 at 04:10 PM.
Reason: add info from actually
02-09-2012, 04:42 PM #44448
Here is an interesting position in the AudUsd. Under this scenario, the Audusd may move up slightly before in a 5 to complete the expanded flat then up and back down in a double zig-zag.
The audusd has complete a 5 wave move up in a diagonal pattern. The move down in wave a or 1 is a completed zig-zag pattern. The move up in three completes wave b. The move down from b to ef A is wave A of a flat pattern that is an expanded flat that is currently in wave ef B.
If this analysis is correct, a likely terminating point for wave ef B would be; Geometric ratio of .11 of ef A + the length of wave ef A = 1.0872. A fib ratio of 138.2% of wave .A as measured form ef A and added to .B is 1.0849. The geometric ratio 141.4% when measured from ef A to .A and added to .B is 1.0872.
It is therefore probable that the audusd if it has not already, will peak between 1.0849 and 1.0872.
02-09-2012, 07:23 PM #44449
stealth intervention ?
02-09-2012, 07:30 PM #44450
eu playing out nicely and still respecting the target line, suspect another leg up to complete ending diagonal before a sizable correction. If it is ED, then it shows market is tired of the move or should i say tired of greece "agreement"
Originally Posted by stanchiam
02-10-2012, 04:02 AM #44451
"5 wave up is present in the current upmove, a bottom could be in or part of abc corrective move"
Originally Posted by stanchiam
1hr zoom in now
02-10-2012, 11:29 AM #44452
Today's Short Term View
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Last edited by marketwavez2; 02-10-2012 at 11:35 AM.
02-11-2012, 05:32 AM #44453
My First Share
02-11-2012, 11:25 AM #44454
My EUR/USD count
The path of least resistance is higher I believe, and it looks like this pair wants 1.60 in the longer-term. I see this as a i-ii-(i)-(ii), but I leave the possible a-b-c correction on the table for fun. First target is 1.34, and above 1.37 I see this as impulsive and not a correction.
02-11-2012, 06:19 PM #44455
My view of euro.
Impulsive wave completed at fibo 1109% extension. Probably will follow a zig-zag "a" wave with the target around 1.3060.
I see two scenarios, one is a deep corrective wave 2(fibo retracement at 61.8 and 78.6), and the second is a corrective B wave of a zig-zag so the retracement must be less than 61.8% of the entire move.
Similar count on cable with the support at 1.5690.
02-12-2012, 12:34 PM #44456
I think of such a movement
the end of wave 5 at 1.3350
What do you think of this movement
02-12-2012, 02:51 PM #44457
What type of triangle could that be? In my view the only possible answer is a barrier. Barriers break to the flat side, which would in this case be down. Here we have a break up. Therefore, the movement is either a complex 4 or a shallow b. Which means the break up is 5 and the end of wave A or a 1 of wave c.
Originally Posted by tomek0111
I counted this Friday and came up with three possibilities. Yesterday I eliminated 1. If this is a wave 5 of a, price should retrace to at least the 1.3050 area. If it is a 1 of 5 of c, the retracement may be complete as the correction is in 3 waves.
02-12-2012, 04:08 PM #44458
Interesting set up here. May make a new high the big drop. The width of the triangle indicates price above 1.12 before reversal.
02-12-2012, 04:11 PM #44459
This seems to confirm the audusd. Maybe Brad is conservative in his estimate. The triangle indicates price will dip below .9700 before reversal.
02-12-2012, 04:43 PM #44460
if you read what is written below the point e triangle?
Originally Posted by aerocom
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