If let said there is a pull back, I plan to enter again for USDCHF at 0.9200. Double up the investment. Price is always wanted to retest back 0.9200 level before it is entering the bull zone.
Welcome to the Elliott Wave section of the forum. If you are interested in Elliott wave analysis, then I highly recommend that you read The Elliott Wave Principle (Frost and Prechter). In this section, we will examine wave counts and potential trading opportunities indicated by wave counts. I present EW trading opportunities on dailyfx + under headlines.
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If let said there is a pull back, I plan to enter again for USDCHF at 0.9200. Double up the investment. Price is always wanted to retest back 0.9200 level before it is entering the bull zone.
I don't know. It appears to me that this run is just about over. If the triangle is a measure, price could extend to .9446. But, the 5th wave principle would have the end in the area of .9411. Price has currently extended to .9418 and satisfied the principle. However, an extended move of 2.618 times wave 1 and an extended 5th wave would put price at .9456.
If the top came today, price would pull back possibly in a deep wave 2 correction to the .9151 to 9115 area. However, since this is a strong market it may not go that deep. At this point, a pullback based on a square of the up move in price would last about 19 days which would indicate a low around June 4. I allow a 3 - 4 day leeway. This would also be consistent with the time cycle analysis which has a potential low on June 5.
So trying to catch this usd/cad
it appears to me this is now an ending diag in the 5th wave
An alternate would be wave 1 over at wave blue 3 and we are in an irregular correction finishing up C of B and soon a drop below wave IV blue as a C wave
Would appreciatcharte a different set of eyes perspective
_______________________________ Just cleaning up all the leftover pips
So trying to catch this usd/cad
it appears to me this is now an ending diag in the 5th wave
An alternate would be wave 1 over at wave blue 3 and we are in an irregular correction finishing up C of B and soon a drop below wave IV blue as a C wave
Would appreciatcharte a different set of eyes perspective
You want to get in this one and hold on. Look at my post from last week. As you say, wave 2 was an irregular correction that corrected up. In my view that correction was over at 9953 last week. Today it broke a neckline of an H&S pattern that signals a minimum of 1.0152. I think it is in wave iii of 3 and should carry to the 1.0400 area or higher. Long term above 1.30.
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I would like to be receiving mail notification of posts in this EW forum. Do I need to fill any form. I tried to subscribe, but it took me to account page, after signing in, I did not see any column about EW.
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Hello,
I would like to be receiving mail notification of posts in this EW forum. Do I need to fill any form. I tried to subscribe, but it took me to account page, after signing in, I did not see any column about EW.
Near the top of the forum page, near the page numbers, click on "Thread tools" and select "subscribe..."
Watch for continued chopping with a bearish bias, but keep in mind there could be a major support line under the market... Could be some directionless trade here for a while...
USDCAD is under extreme bullish if you see the monthly chart. I do not know whether this week it will pull back or not or even end of this month because it is entering the bull zone. I believe there is an extension for current wave 5 until end of the month so I still holding it. There is a strong support trend line on the bottom. I am going to enter again next month if it pulls back. Difficult to trust on the oil news. No solid evidence at all. Well, I believe on the global market count. My target is 3000 pips for USDCAD in this year. Yupee.
Click on Control Panel, then click List Subscriptions on the left side... in there you will see this thread listed... select its check box then press the button on the bottom and select from the pop-up menu the frequency of notification you wish.
Originally Posted by Franosh
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Originally Posted by eddek
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