Thread: Elliott Wave Trading Discussion

Originally Posted by stanchiam

i have a set of rules which i follow closely with the combination of holy grail for confirmation
lets get some pop corn and watch the show

Stan, do you have a euro count? And Aussie? Thanks

Originally Posted by DolceVista

Stan, do you have a euro count? And Aussie? Thanks

of course i have, hmm...
i say look at usdchf for clues since eurchf "doesn't move", which i had provided

Stan, I asked about that for a reason. One of the weaknesses of EW is it's too subjective, even with all the rules. Counts could be altered completely if things have turned out in a different way. On USD/CHF daily chart, the boxed area is a vulnerable area that attracts revisits from a mechanical/technical point of view of order flows. It may go up to the moon, but it's the actual detour that it takes that makes all the difference.

Instead of having done an a-b-c as wave 4, it could as well be cascading down in just a diagonal of some sort. We never know.

Originally Posted by DolceVista

Stan, I asked about that for a reason. One of the weaknesses of EW is it's too subjective, even with all the rules. Counts could be altered completely if things have turned out in a different way. On USD/CHF daily chart, the boxed area is a vulnerable area that attracts revisits from a mechanical/technical point of view of order flows. It may go up to the moon, but it's the actual detour that it takes that makes all the difference.

Instead of having done an a-b-c as wave 4, it could as well be cascading down in just a diagonal of some sort. We never know.

from your chart i do not see any count, show me what you have in mind
to me, its crystal clear and i only have 1 count, no if else for now

ps: today i want to see aud do some shooting star kind of candle

wanted to keep this but i see too much darkness and confusion
i have to repeat this again
I say let there be light...lol
good luck

ps:again, please do not listen to me and stick to your own count, thank you.
already spoke too much today, back to hiding for me, bye

Which of these two daily bars more look like daily bear signal for EURUSD ?

Hey guys,

what do you think about this count?

Originally Posted by szaman1977

maybe complete ... maybe not ... many possibilities - correction of all move from low and new highs, corrction of C wave and new highs

there can be problem with count 5th wave of A from your previous charts as 5w. structure - that's why I propose this count

Like you, I am concerned about the completion of wave C. That 5 up could only be A of a 3 wave C.

Good Luck.

Originally Posted by White-Fang

Hey guys,

what do you think about this count?

Maybe, one more move up to complete C.

Good Luck.

Originally Posted by stanchiam

while bros are having some headache with many possible count
i say let there be light
cheers

ps: warning: even though i am right most of the time, do not listen to me
thanks

This is a good call and one of your best. So, why the warning here. This pair has broken a long term inverse H&S pattern and retest the neckline without a break. It provides an excellent entry point with clearly defined risk and reward.

Good Luck.

Originally Posted by aerocom

Very good skinnypuppy. Why did you tell us you couldn't count? :>)

Good Luck.

thanks mate i really appreciate the positive feedack! i can count.. i'm just not as good as i want to be in it! :evil:

The turn is near. Divergence is showing in the Dow Jones FXCM$ index and wave C is 1.0888 time wave A. One more push down in the $chf may be in the cards before the runup. Still expect the H&S line previously mentioned to hold.

Good Luck.

Originally Posted by stanchiam

just like my count, same here, one more push up expected and poof, bulls will run
good luck

ps: i suppose "fundamentally" all the hype about greece disappear and bulls run out of steam
bears will take over with news of spain and other parts of Europe needing bill out, market panic again and start to dump risk
aud will be taking a hit as it is a gauge for risk and they will be buying us bonds as safe haven and thus, pushing up usd

can u feel it? the calm before the storm?? .....lol

I agree. Panic has yet to hit the markets and Eurozone is far from safe. The Greece debacle is but one component of the myriad of issues they are facing.

Thanks for your comments on my count, by the way.

Here is a look at the Eur$. There is a nice decline and the count could be a-b-c but I think the chart has the best probable outcome. One more high where C=A at 1.2778 or the 5th wave principle and a high in the 1.2800 area.

If price breaks below wave iv and the recovery does not present a new high, it is a short there.

Good Luck.

Originally Posted by JoeyLee

Which of these two daily bars more look like daily bear signal for EURUSD ?

This daily bar is tricky. Loss 50 pips. Won 200 pips now becomes 150 pips. Unexpected. I long again at 1.265 yesterday. This type of movement has confirmed the dollar index is running out of steam. I will hold it until end of the year. Not because of it is not completed, it is complete already. No way dollar can gain power in future. Luckily i did not trade on GBP.