Thread: Elliott Wave Trading Discussion

Originally Posted by xtura

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

titanic is waiting for all bears to board, but now think eurusd is a little crowded, shifted some over to gbp earlier

Nzd is going to reach the support line and pulls back. Short entry might be on next week. It could not be possible be bullish because from January to May 2012, it was all in bear territory.

Gold was in range bound last couple days. It moves away from range bound area and still have a long long way to go. It is traveling inside the bear zone. I do not know next year whether the bear cycle can complete or not.

This chart has several technical principles. First is the limit of the triangle. When the line is extended off a symmetrical triangle it indicates the downside limit of price. Second, the minimum expectation of price in the second, wave 4 triangle. Here the indication is that price will decline to 9824. Price actually exceeded the minimum expectation when measured from wave e, stopping short of the upper triangle line at 9799.

I think wave 1 up is now complete at 2 times wave 1of 1. I expect wave 2 to be limited by the triangle before a blast through 1.0051. This is a Gann Rule. Price has clearly visited 1.0051 3 times, hence the break through with risk limited by the upper triangle line.

Good Luck.

This is what i see in 15 minutes chart for GBP. I plan to short when it pulls back. I am not interested in corrective wave because I am long term trader. It does not look like impulse wave at 15 minutes chart. Still under observation.

target 1.3150

Wave 5 (down) Ok at 1,2953.
Then no trending the next 1 hour
Expecting correction

Originally Posted by aerocom

and the Gbp$.

Good Luck.

Hi Aerocom,

we have SLTD top confirmation here (1.6074 broken) - ITD1 bottom is due on friday, but it will most likely be late, ITD2 top (super short opportunity) should be no later than mon the 21st. Howdyy has his bottom due about 16th

GL

Patryk

Originally Posted by fazi

Hi Aerocom,

we have SLTD top confirmation here (1.6074 broken) - ITD1 bottom is due on friday, but it will most likely be late, ITD2 top (super short opportunity) should be no later than mon the 21st. Howdyy has his bottom due about 16th

GL

Patryk

Hi Patryk,

Could you post some links to information about Delta trading or some books?. Seems that google is not helping.

Thank you.

xtura

Originally Posted by xtura

Hi Patryk,

Could you post some links to information about Delta trading or some books?. Seems that google is not helping.

Thank you.

xtura

Hi xtura,

you`ve got a PM

You may want to check Howdyy`s thread (trading stategies => (at the bottom) gbpusd delta phenomenon...) or via Cable`s thred (it is also linked there).

He has got a lot information there too

Watchout. Maybe....

Originally Posted by fazi

Hi Aerocom,

we have SLTD top confirmation here (1.6074 broken) - ITD1 bottom is due on friday, but it will most likely be late, ITD2 top (super short opportunity) should be no later than mon the 21st. Howdyy has his bottom due about 16th

GL

Patryk

Thanks Patryk. Next week is options expiration. So, the bottom may be in already. However, I am looking for a move into the 6000 area and possibly lower. I have 2 possible counts a w-x-y-x-z complete at today's low or an A-B-C with a of C complete with today's low. If wave C is still underway, price should bottom in the 6000 to 6020 area. However, if it is a completed move, price should move up into the 6185 to 6250 area before moving down again. In this case, I look for a bottom in the 5800 to 5900 area. Based on your date of the 21st, I would think the down move is still underway.

Thanks you for the delta posts. I look forward to reading them.


Good Luck.

Still see upwards potential and the current PA as a correction looking for a tradable low...
Cheers, Frank

Silver

Originally Posted by 10frank01

Still see upwards potential and the current PA as a correction looking for a tradable low...
Cheers, Frank

Silver

Hi Frank;

I see this as a classic zig-zag pattern. Where you have your blue 4, I view as A, a five wave move followed by a flat (3) which should be followed by 5 down. Price here, should move into the 1400 area before any meaningful correction. The alternative would be a truncated wave C which would likely mean a bottom is in at .618 of wave A.

Be careful.

Good Luck.