USDCAD may go up to 1.04. Highest price of the year. Too fast to close it. Have to wait around 1.04
From this pair, I can see a turning point of the market. S&P may go further up. Gold maybe wave 4 already completed. Crude oil may break the upper trend line. Hard to say it now but I can see it when it reaches to the target point. I have to revise all the count again. Too complex when counting S&P because it involves with Grand Supercycle.
Jesse Livermore said you should do your work when the market is closed. Once again, an excellent job my friend. I follow all the currencies you covered and agree with all. However, I have a different and constant changing perspective on the USDJPY pair and offer my count as an alternative. Here, the $yen is still in a down trend. The trend may be ending but, we have to wait for a sign. I HAVE NO POSITION IN THIS PAIR.
As you can see from the chart, 78 is the target to watch. I have a range of 78.18 to 77.83. Either would place the pair in the area of .707 retracement of the entire up move.
Here is my analysis of the usdchf pair. The 5/3 chart was the initial post made about the current move and is used for reference. I still think that the pair was in an irregular tripple three correction that is over. The outside reversal day gives a clear indication that the move up has terminated. If this completes wave 1, the wave 2 should close the gap and terminate within the confines of wave 2 of (1.)
However, there is another possibility and I have posted that in chart 3 which shows that the triangle occurred in an A-B-C pattern following an irregular zig-zag pattern. In this scenario, price should terminate at a point related to wave A. In this chart, I have used 1 which would end in the 90 area. A move lower would probably limited at 1.272 times wave a in the area of .8855.
Jesse Livermore said you should do your work when the market is closed. Once again, an excellent job my friend. I follow all the currencies you covered and agree with all. However, I have a different and constant changing perspective on the USDJPY pair and offer my count as an alternative. Here, the $yen is still in a down trend. The trend may be ending but, we have to wait for a sign. I HAVE NO POSITION IN THIS PAIR.
As you can see from the chart, 78 is the target to watch. I have a range of 78.18 to 77.83. Either would place the pair in the area of .707 retracement of the entire up move.
Good Luck.
Great input bro, I do hold this as an alternate, we are in agreement on the counts because we are to a large degree objective and understand the true meanings of the probabilities presented by the wave principle rather than labelling a bunch of W-X-Ys all over the place like many do.
I will be not suprised if I will see something like this
The whole point of elliot is that you are not surprised. But, it is more about probabilities than anything. The principle of wave equality would dictate that the waves are related. Here, wave c would be related to wave a. The more probable relationships are 1, greater than 1 and less than 1.
Jesse Livermore said you should do your work when the market is closed. Once again, an excellent job my friend. I follow all the currencies you covered and agree with all. However, I have a different and constant changing perspective on the USDJPY pair and offer my count as an alternative. Here, the $yen is still in a down trend. The trend may be ending but, we have to wait for a sign. I HAVE NO POSITION IN THIS PAIR.
As you can see from the chart, 78 is the target to watch. I have a range of 78.18 to 77.83. Either would place the pair in the area of .707 retracement of the entire up move.
Good Luck.
JPY count not be retrace back anymore. It already crosses the wave 1 territory. On top is Monthly bar shows a clear direction already. It looks suspicious on 4 hour bar. JPY is the first sign shows the market is still not yet completely run out of steam.
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
English
Español
Français
中文
Deutsch
Italiano
العربية
Sverige
Ελληνικά
Posting Permissions 
Reply With Quote
Originally Posted by Traderfringez 
