Thread: Elliott Wave Trading Discussion

Going for long. Let us sing. Rejoice. Yupee

Originally Posted by tomek0111

fourth wave in support of

There's no doubt that this is a support. But labeling this last move as I,II,III,IV is baffling, it's essentially invalidated and proportions are extreme. However, to be convincing you could relabel your ABC red to WXY and everything will look more comfortable.

In your count you're identifying two signs of extreme bearishness. A truncated wave 5 and some kind of ending diagonal. I not agree with the trunked 5 but if you see this extreme bearishness do you think it's wise enough searching for a long?

Please don't take this as personal, just trying to give some arguments to the debate.

Originally Posted by aerocom

I think what you mean is Jay's count has been invalidated because the price of wave e cannot extend beyond the price of wave c.

Good Luck.

Hey Aero,

Yes, both the Euro and Swissie B-wave triangle counts have been invalidated, unfortunately.

Down Trend in Time frames: 1h, 30 min.
Overbought in Time frame 5min
Current Wave in 1h, 30 min: Wave 4.
Expecting W5 down in Time frames: 1h 30min.
Set Alert at 1,3020 (go down) to confirm W5.

Originally Posted by JoeyLee

Can you show me your long term count ? It is seldom to have this type of condition expanding diagonal but i suspected it when the wave D moved away from trend line. Past few years back it has the possibility of moving 3000 pips below in a year. Expanding diagonal on for moving upward but in this case is weird. Need more confirmation from you all. Thanks.

Here is my count of the pair as promised. I have a primary count and the alternate count (red). In my view they are all 3 wave moves and could be an expanding triangle as you have stated.

Good Luck.

Bears are offered short entry into the GBP/JPY after a substantial retracement...

It won't be long and we'll see this market moving downward into the descending long term channel which defines wave 5...

The market left a beautiful spinning top pattern in place last month at channel resistance... Declines are not far off....

In the big picture, I expect this rate to be at the 100.00 mark in years to come....

and the Gbp$.

Good Luck.

7000 pips for GBP. See whether it can break long term support trend line or not.

Hey guys, got any more room on the bear boat? If the count below pans out I should only need to be on board for another month or so. I'm still expecting a return to the 1.50 area sometime next year before any big crash occurs. Lots of support below at the 1.24 area.

Originally Posted by stanchiam

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

one month passed, lets see how it goes in another month

Originally Posted by stanchiam

There is still a downside risk and more ranging
Good luck



Trader Blog: EurUsd 24 Feb 12
is the top in?

2 months plus passed, waiting for new low

Originally Posted by 2_bits

Hey guys, got any more room on the bear boat? If the count below pans out I should only need to be on board for another month or so. I'm still expecting a return to the 1.50 area sometime next year before any big crash occurs. Lots of support below at the 1.24 area.

have posted in feb such a scenario as the post mentioned here http://forexforums.dailyfx.com/ellio...ml#post1138110 (Elliott Wave Trading Discussion), glad u finally see this possibility after a long time

Eur price is entering the bear zone. So good to sit on the top waiting to harvest around 2000 pips. It has the potential of achieving 2000 pips. Trend continuous this week. Yupee

So nice to go long at the bottom. Cad price is going to enter bull zone. It may be able to achieve 3000 pips this year. yuppe

Originally Posted by 2_bits

Hey guys, got any more room on the bear boat?

Boat is getting full and this is something that puts me in cautious mode.