Thread: Elliott Wave Trading Discussion

Originally Posted by stanchiam

if this scenario happen, then we shall see risk aversion
mr ben reluctant to open his mouth and say the QE word later will let mr market thoroughly disappointed
the aftermath? mr market will show it through the market
good luck

ps: which currency is the symbol for risk? that will be the one to be ........

LOL AUD looking strong today. Big Ben say "will use QE3 if needed". Market like this. USD/Cad going down in C. I will respect your view and bank pips if I see a reversal. We will call it a set back.
Peace


EDIT: I will not brag, and say I am special. I give praise and honor to MR. Aerocom for pointing out AUD contracting triangle. He is to humble to brag for himself. Thumbs up MR A. He just silently gather pips.

Originally Posted by Luxuriant

LOL AUD looking strong today. Big Ben say "will use QE3 if needed". Market like this. USD/Cad going down in C. I will respect your view and bank pips if I see a reversal. We will call it a set back.
Peace

A break for AUDUSD from the triangle automatically form wave 1. Currently retrace back to wave 2. I short at here 38.2

1.0480 = 618 extension

Originally Posted by stanchiam

SPX

Well, I'm not the chosen one, nor am I the best, but I do have a chart. Same outcome but different count.
http://www.tafool.com/Charts/sp5000718124h.png

Originally Posted by Luxuriant

1.0480 = 618 extension

Ok. I agree on the general area. However, there are some other ratios that may be in play here. I have tried to capture all in the long term chart. The relationship between B&D at .618 is about 1.0489 which confirms your target. Arithmetic ratios between the waves are also common in a corrective pattern. One that is showing up here is the .75 between waves A and C. If that ratio extends to B and D, the target would be 1.0681. However, if a one relationship exists between a and c, wave a is 643p, price would extend to 1.0611. The lower (a) and (c) equality is 1.0459.

The area of expectation is 1.0459 to 1.0611. I am still expecting a near 900p decline in wave E.

Long term target is above 1.1400.

Good Luck.

Originally Posted by aerocom

Ok. I agree on the general area. However, there are some other ratios that may be in play here. I have tried to capture all in the long term chart. The relationship between B&D at .618 is about 1.0489 which confirms your target. Arithmetic ratios between the waves are also common in a corrective pattern. One that is showing up here is the .75 between waves A and C. If that ratio extends to B and D, the target would be 1.0681. However, if a one relationship exists between a and c, wave a is 643p, price would extend to 1.0611. The lower (a) and (c) equality is 1.0459.

The area of expectation is 1.0459 to 1.0611. I am still expecting a near 900p decline in wave E.

Long term target is above 1.1400.

Good Luck.

I agree with 1.06 area possible. Just being conservative. Feeling 1.0480 to 1.05 should not be a problem. Have to lean on you for thrust up from E. Can only say new high for the year if it happens. But will trade the E bottom when it gets there.

Edit: Thanks MR A for pointing out this triangle. Made some mad pips today. Won't let the market take them back.

Originally Posted by Luxuriant

I agree with 1.06 area possible. Just being conservative. Feeling 1.0480 to 1.05 should not be a problem. Have to lean on you for thrust up from E. Can only say new high for the year if it happens. But will trade the E bottom when it gets there.

Edit: Thanks MR A for pointing out this triangle. Made some mad pips today. Won't let the market take them back.

We probably should say potential until it develops further. Thanks for the props.

Good Luck.

ratio looks good
hang on

I still doubt whether it can move further up.

Originally Posted by JoeyLee

I still doubt whether it can move further up.

well, bros here are aiming for 1.04x-1.06x
sure it can go higher with those count
as for when it will come down, u have to ask aerocom as he is the time keeper, gann master

Originally Posted by JoeyLee

I still doubt whether it can move further up.

Bros watch USD/CAD its in wave 3 of C. Going near 1.00. Nice set ups coming I believe

Originally Posted by stanchiam

BEFORE



AFTER

so lucky to get it on the dot again
humble pie taste so nice...lol

you can deny it, but my chart just got so "lucky" most of time
something special?

ps: ignore my 2nd target, i have a change of heart

Originally Posted by stanchiam

AFTER AFTER
wave C completed

shall see when it decide to let go

This USDJPY is counted from 1970. I am going to long it next year when it touches the below trend line. Current not moving at all. Movement is not huge in a week not more than 100 pips. Not easy to short it too. I will wait. No need to have too much pairs to trade. Only one or three is enough already.

Gold already broke the long term channel. It will move up to retest the channel again before it moves away because it is GOLD. Serious problem. Future not bright.