Thread: Elliott Wave Trading Discussion

It takes too much time to post on both my blog and here individually

Originally Posted by Paul79

Hi Aerocom,

What is your thoughts on $cad at this point? Are we still in minute wave ((iii)) with a top at 1.0245 with the start of a pull back in minute wave ((iv)) or do we need to go higher for minute wave ((iii)? Stryker thinks we are going to 1.0270/75 for a top so if that is true would that be to a minute wave ((iii)) top? Traderfringez suggested on Sat to wait a day or two before a completion of minor wave 1.

My plan would be to get out at minor wave (1) top and buy back in at minor wave (2) bottom for the ride up all the way to intermediate wave [1] wherever that ends. Sorry if my nomenclature is incorrect as a couple of websites listed minor waves as 1 and also as (1). I am just starting to learn more details about EW even though I think it is too complicated. I do have my own indicators that I look at (ichi, SSD, and RSI to keep it simple) but your insight and others here are really appreciated.

Thanks!

I think wave 3 has ended at 1.0245. I have a target in the 5=1 at 1.0313 to .618 of 1-3, at1.369 area.I had an earlier projection at 1.0299. If you draw an elliot channel you will see that wave 3 broke out of the channel as it should. Price has now returned. Wave 4 should end near fib 50 in the area of 1.0100. If it overshoots, the .618 is at 1.0050. I made my calculations from 1.0094.

Good Luck.

Thanks Aerocom.

Correct me if I am wrong but if it overshoots it has to stay above wave 1 at 1.0064 since wave 4 cannot come into wave 1, right?

Originally Posted by aerocom

I think wave 3 has ended at 1.0245. I have a target in the 5=1 at 1.0313 to .618 of 1-3, at1.369 area.I had an earlier projection at 1.0299. If you draw an elliot channel you will see that wave 3 broke out of the channel as it should. Price has now returned. Wave 4 should end near fib 50 in the area of 1.0100. If it overshoots, the .618 is at 1.0050. I made my calculations from 1.0094.

Good Luck.

prefer showing it as a chart, perhaps wave 3 indeed ended
and if this is extended 5th, then i am expecting a double retrace
cheers

Originally Posted by stanchiam

I will like to paint it as a chart, the bounce would be a wave 4 retracement
lets see if it show respect...cheers

respect shown, right on the line

Bull darling is inviting me to go to a pizza party tonight. Do you want to go together with me ?

Not extremely confident in this count, but I still see 2 legs maybe complete. If wave 2 was a Flat, we can expect a complex wave 4. Elliott channels commented by aerocom working +/- as expected. Let's see how it develops.

Una salutació,

xtura



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Originally Posted by Paul79

Thanks Aerocom.

Correct me if I am wrong but if it overshoots it has to stay above wave 1 at 1.0064 since wave 4 cannot come into wave 1, right?

I tend to adhere to the rule wave 4 cannot enter wave 1. However, this is a highly leveraged market and I believe wave 2 corrected up in a double. So, in this case, it is possible for overlap to occur. However, wave 1 and wave 3 are about the same length with wave 3 being slightly longer. Therefore it is also possible that we get a retracement of 50% or less and an extended wave 5. It still looks like the 1.0100 to 1.0093 area will hold.

Good Luck.

Pizza taste is so nice. I feel good. yupee

Originally Posted by stanchiam

prefer showing it as a chart, perhaps wave 3 indeed ended
and if this is extended 5th, then i am expecting a double retrace
cheers




respect shown, right on the line

Or a minor reaction?

Good Luck.

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Another view on what could go on in the metals... if this view is valid, then patience is demanded until completion of the triangle... Good luck.

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Do not think that I am crazy. I count the internal pattern. It satisfy the rule irregular pattern of last wave.

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Are we done with minor wave 1 in $cad at 1.0297 and so we are in a 3 wave down or is there some more upside? It didn't quite reach 1.0313 or higher.

I am still holding my longs from 0.9987.
Thanks!

Originally Posted by Paul79

Are we done with minor wave 1 in $cad at 1.0297 and so we are in a 3 wave down or is there some more upside? It didn't quite reach 1.0313 or higher.

I am still holding my longs from 0.9987.
Thanks!

As per my main count this leg up is less than 61.8 the lenght of wave 1 but looks like 5, 1 or C could be complete. Market will answer your question. What is your count saying?