Thread: Elliott Wave Trading Discussion

Originally Posted by JoeyLee

Do you think is possible ? I overwrite my previous thought.

any count is possible, u need to find the best probable one and stick to it
u will find out later

Thank You. My view for USDCAD still bearish. It would not be possible for last month movement only 100 pips if it is bull. Does not make any sense at all. NZDUSD still bullish. Difficult to count it as bear. AUDUSD also impossible to count it as bear. USDJPY is proven that it is bearish. Thus I make overall view US index is going down.

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Originally Posted by JoeyLee

Thank You. My view for USDCAD still bearish. It would not be possible for last month movement only 100 pips if it is bull. Does not make any sense at all. NZDUSD still bullish. Difficult to count it as bear. AUDUSD also impossible to count it as bear. USDJPY is proven that it is bearish. Thus I make overall view US index is going down.

"AUDUSD also impossible to count it as bear"

ok, let me be the first one to prove you wrong and that any count is possible
leading diagonal wave 1 of C is a strong possibility for au
prove me wrong that this is impossible to count it as bear

Originally Posted by JoeyLee

USDJPY is proven that it is bearish.

proven if it can take out the low of my bullish view
i wonder how u prove it is bearish

Originally Posted by stanchiam

proven if it can take out the low of my bullish view
i wonder how u prove it is bearish

I do not know how to prove but I feel that it is moving down inside the diagonal. Most people ignore the last year last month until february pattern. It is very unsafe to go for long unless it comes with a very long body with long tail weekly bar. Difficult to said it is bullish and the end. See the Mr. Tafool explaination.

The AUDUSD weekly bar does not showed a good bear pattern. I can only see the ABCDE on weekly bar. It is easy to count as ABCDE. It will go up again and form ending diagonal very soon.

The best pair now is USDCAD. I am getting 100 pips now as what i have predicted. See my previous post. Everything soon will come to the end.

Originally Posted by JoeyLee

I do not know how to prove but I feel that it is moving down inside the diagonal.

ok, so it is not proven and no count, just gut feel

charts speak louder than words
anyway, i am really scare of everything soon will come to an end...lol
cheers

Originally Posted by stanchiam

would love that to be a w3 drop, but i have another view
on the bigger picture

Originally Posted by szaman1977

it's also possible that on your Y is A. there are some other things which want to confirm it - SPX is in w4, oil seems be in correction also.

GBPUSD from low made clear 5 waves and now it can be in flat B wave

should find out in a week or 2

Originally Posted by JoeyLee

The AUDUSD weekly bar does not showed a good bear pattern. I can only see the ABCDE on weekly bar. It is easy to count as ABCDE. It will go up again and form ending diagonal very soon.

ending diagonal is just one of a possibility
just show you my chart to let you see another
and never say it is impossible to count bearish, do not rule out any count
cheers

ps: hope i am not talking too much...lol
i better go into hiding mode

This is my view. Can you see the yellow line is moving up and the daily bar getting smaller.

Originally Posted by aerocom

It's a bull in the early stages with a target above 1.3000 likely. I have at a minimum c=a in the 1.33 - 1.34 area. There are some contingencies here though. I expected the correction or the current down move to carry below 99 but above 9860. It still may but a break of 1.0051 will indicate that wave 3 of 1 of c is under way.

Looking at the chart with the EWO you should notice the divergence at the end of the correction where price made a new low but the indicator did not. That marks the high probability end of wave 5 of the correction. Another clue is usoil. I use it for inverse correlation. Commodities should be bearish into Apr to Oct of 2013.

I have been holding long since 3-21 stop 9840.

Good Luck.

As anticipated usdcad decline stopped just shy of 9860 at 9863 with a diagonal on the 15 min chart. I am adding to my longs for the wave 3 move up.

Good Luck.

I am a newbie.
I have a question about the AUD/USD chart....posted in recent post #45266
I feel that wave 4 does not go into territory of wave one...Please advice

Originally Posted by rforexdad

I am a newbie.
I have a question about the AUD/USD chart....posted in recent post #45266
I feel that wave 4 does not go into territory of wave one...Please advice

Diagonals are the exception to that rule.

EURUSD has a great chance of going up to 1.38.

Above is my preferred count from last year's low it seems evident that wave 4 is complete, notice how we came back into the 4th wave of smaller degree, and right into the upper boundary line of the base channel which sometimes tends to be the limit for 4th wave corrections. wave 4 & 2 both alternate in time. ALT: 1-2-i-ii



Here is the wave 4 in greater detail, it seems evident that the decline unfolded into a zigzag correction with a typical wave relationship in which wave C=A. Notice the divergence between the end of wave A and the end of wave C, Also remember that we are right between the 38.2%-50% of wave 3 which are typical targets for a 4th wave decline. Prices have breached the level labeled "Key level" on the previous post, and is most likely on its way to breach the critical level (Please review previous posts on this currency pair Competent Trades: USDJPY elliott wave counts & Competent Trades: USDJPY)

Regards,
Ahmed Farghaly

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