Thread: Elliott Wave Trading Discussion

Originally Posted by morraevo

Trade opportunity

Market sell
Open: 80.869
Stop loss: 81.701
Target profit: 80.185

Attachment 125405

Decrease the stop-loss to 80.743 (from the initial 81.701) like in the image bellow:



Good luck!

Originally Posted by Traderfringez

Competent Trades: USDCAD update

I think it is in the final move down and will bottom above 9718. Afterward, look for a rapid move back to 9950 then higher.

Good Luck.

It looks like this is the day. The wonderful day as predicted.

Originally Posted by JoeyLee

It looks like this is the day. The wonderful day as predicted.

Not quite. Look for the turn by Friday or Monday. Here is the Loonie chart with a nice setup for later this week or early next.

Good Luck

Originally Posted by aerocom

Here is my update on the Gbp$. I expect a correction to be capped in the 1.6246 area. Then up in wave 5.

I am counting the current up move as an extended wave 3. As a result, it is unlikely that wave 5 will extend. The target based on wave equality between A and C is 1.6297. However, if wave 5 is equal to 1, under this scenario, the target should be in the area of 1.6422.

But, if this is a three wave A-B-C move, the move is likely complete or will complete below 1.6315. Under this scenario, all possible targets that I can think off limit the price to 1.6297 to 1.6223 with 6312- 6315 as the likely highs.

Good Luck.

As a follow up to this post. If wave 3 was an extension which I believe it is, the correction should be be capped at wave 4 of 3. Or counted another way wave b of 3. Using ratio analysis, the operative ratio based on the fact that wave 3 is nearly 2.828 times wave 1, the low is anticipated in the 1.6130 area.

Afterward, price will continue up in wave 5 which should, if 5=1, end in the area of 1.6309. However, using the 5th wave principle, price could extend to 1.6436. I would also point out that .707 retracement of the move down would equate to 1.6312 and 2.828 of wave 1 is 1.6315.

In conclusion, expect price to climb to and meet the 2.828 ratio target of 1.6315 but, there is a probability that price will go as high as 1.6436 in the final move up.

Good Luck.

It is under Contracting diagonal rule. I do not dare to pursue further. Especially on last wave, it touched the trend line and bounced back yesterday.

Originally Posted by aerocom

As a follow up to this post. If wave 3 was an extension which I believe it is, the correction should be be capped at wave 4 of 3. Or counted another way wave b of 3. Using ratio analysis, the operative ratio based on the fact that wave 3 is nearly 2.828 times wave 1, the low is anticipated in the 1.6130 area.

Afterward, price will continue up in wave 5 which should, if 5=1, end in the area of 1.6309. However, using the 5th wave principle, price could extend to 1.6436. I would also point out that .707 retracement of the move down would equate to 1.6312 and 2.828 of wave 1 is 1.6315.

In conclusion, expect price to climb to and meet the 2.828 ratio target of 1.6315 but, there is a probability that price will go as high as 1.6436 in the final move up.

Good Luck.

see what others don't see
perhaps there will be no wave 5, if it is as per my count
however, after posting my chart, market may decide to stop me and my followers out and u will get your wave 5...lol
careful and good luck, cheers

Originally Posted by stanchiam

will know if the resistant will hold for the daily chart
short term will be coming under pressure

"game is over for bears in medium term on GBPUSD"
too early to tell, but your system may work
i just wish it is a breakout bull trap to round up those bulls on top for pepper steak meal later

projected daily resistant work wonderfully as expected

We are going to enter the land of honey !! Yupee..

Originally Posted by JoeyLee

We are going to enter the land of honey !! Yupee..

honey bear serving me pepper steak now, cooking those cow

target 1,3330

Originally Posted by tomek0111

target 1,3330

This is not the way. It is better to go for short.

Originally Posted by JoeyLee

This is not the way. It is better to go for short.

MODEL RANGE SHS

Originally Posted by tomek0111

MODEL RANGE SHS

I am thinking about 1.3400 and you write wrong way
I think that probably a good way

I keep updating the count and found that actually the wave E is completed already. Can you see the wave is so smooth riding on the green line and moving away from yellow line in daily chart ?