Thread: Elliott Wave Trading Discussion

Originally Posted by tomaz

hello brad
regarding cable, I have the top at 1.5900 which coincides with a confluence of events of fib retracements and price projections. I was wondering whats your take on this pair? also, where would your stop loss be if 5900 is the top? thx
tomaz

Hi there tomaz....

Really wish you would've posted a chart showing the top you are looking at near 1.5900.... I have looked through multiple time frames and can't see what you're talking about....

I can however offer you my long term projection for the pair...

This market appears to be in a large wave 4 correction on the monthly scale, so we're going to see a lot of sloppy choppy price action in that market over the next several years....

Currently the maket is in the middle of wave "D" in a contracting triangle...

If I was going to short cable I would be bearish against 1.6300, and I would be looking to enter the position much higher up than current price at 1.5700....

Target for wave "D" on the down side looks to be roughly 1.5000, maybe a little lower...

Personally I have no interest in cable, I don't like the look of it... If you ask me, there's better opportunities elsewhere...

This is the monthly chart ----->

Originally Posted by brad_1199

Hi there tomaz....

Really wish you would've posted a chart showing the top you are looking at near 1.5900.... I have looked through multiple time frames and can't see what you're talking about....

I can however offer you my long term projection for the pair...

This market appears to be in a large wave 4 correction on the monthly scale, so we're going to see a lot of sloppy choppy price action in that market over the next several years....

Currently the maket is in the middle of wave "D" in a contracting triangle...

If I was going to short cable I would be bearish against 1.6300, and I would be looking to enter the position much higher up than current price at 1.5700....

Target for wave "D" on the down side looks to be roughly 1.5000, maybe a little lower...

Personally I have no interest in cable, I don't like the look of it... If you ask me, there's better opportunities elsewhere...

This is the monthly chart ----->

thanks for your opinion, brad. I am currently long cable looking for 1.5900 which is the 62% retracement of the big down leg. will stop and reverse at 5900
cheers

Originally Posted by tomaz

thanks for your opinion, brad. I am currently long cable looking for 1.5900 which is the 62% retracement of the big down leg. will stop and reverse at 5900
cheers

A chart showing what you were asking Brad about may have helped clear up the confusion. I have posted a weekly and daily chart of which I think fits into what you are saying and Brad is expecting. If I am correct, then you are looking for (what is shown as my) wave 2 (weekly chart) to end around the 61.8% fib at around the 1.59 area (shown on the daily) before a drop. This drop on a monthly scale could easily go to the 1.50 mark that Brad is showing on the monthly chart to complete wave d of that triangle.

Originally Posted by brad_1199

I know Jaime has been trying to short this pair lately without much luck....

I however have been on the sidelines looking for the next top.... And I think it's coming up soon..

The chart shows how I think market price action will play out.....

I'm looking to load short positions with candlestick confirmation of a top on the daily time frame....

Keep your eyes peeled traders, I expect the next top to bring on a pretty sharp drop....

I will keep an eye out and update this chart when the top is in...

I agree we are close. Was watching a triangle which the top line comes in just below 1.07. The more I look at it though I am not sure I like this scenario since triangles usually form in 4's or b's and the target is usually the width of the triangle mouth. If this scenario played out, that would put a target of a breakout above the 1.20 mark. I am not sure if I can believe this situation to play out but I will watch and see what happens. I do like the possibility you show here in your chart.

Originally Posted by Gizmo

A chart showing what you were asking Brad about may have helped clear up the confusion. I have posted a weekly and daily chart of which I think fits into what you are saying and Brad is expecting. If I am correct, then you are looking for (what is shown as my) wave 2 (weekly chart) to end around the 61.8% fib at around the 1.59 area (shown on the daily) before a drop. This drop on a monthly scale could easily go to the 1.50 mark that Brad is showing on the monthly chart to complete wave d of that triangle.

ty gizmo, that was precisely what I was asking. I will short heavily at 1.5900, even though there is a slight possibility for price to overshoot to 1.60+, so stops have to be 1.61+. my tgt will be 1.4800 for a position trade.
cheers

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Originally Posted by TAfool

Most wavers probably won't like this because of the proportions but it is what I'm going on for the time being.

EUR/USD in a corrective move. Expanded or running is inconclusive so far but, I suspect it will be expanded.
http://www.tafool.com/Charts/eurusd0730125m.png

Almost to the point of truth. Just a wee-bit more. Refer to the prior chart to see the smaller wave break-down.

Updated chart:
http://www.tafool.com/Charts/eurusd0731125m.png

Alf Field: Correction is over... major 3 underway, target 4500

Full text:

What Happened To Gold?

Originally Posted by SkiBunny

Alf Field: Correction is over... major 3 underway, target 4500

Full text:

What Happened To Gold?

I still have a target of 1402. tI will go up when the aussie finishes correction or the reverse. Gold in c of C down.

Good Luck.

Looking to go long USD. But still lower 1st. Matches EUR view. EUR 40% of dollar index. EUR/CAD, EUR/GBP, EUR/USD still higher!

EDIT: USD/CHF Weekly


Peace

Originally Posted by Luxuriant

Looking to go long USD. But still lower 1st. Matches EUR view. EUR 40% of dollar index. EUR/CAD, EUR/GBP, EUR/USD still higher!

EDIT: USD/CHF Weekly


Peace

I am thinking that price will drop back to at least around the 38.2% mark on the chart below. Since I have a shorter time frame chart here showing it as a wave 4, which typically retraces 38.2% I would be looking for a target of around 96.00 before it heads higher. Wave equality between wave "a" I am showing and "c" would come it between .9550 and 96.00 depending on where wave "b" ends.

Where are all EW traders today? I only know my ABC's so can't unfortunately not post!

EUR/USD 4-Hour, 60-Minute and 15-Minute Advanced GET Elliott Wave Counts

Hello traders,

Here are some Esignal Advanced Get Wave counts for EUR/USD. Let me know your thoughts.

Agree, Disagree?

Originally Posted by Alejandro Zambrano

Where are all EW traders today? I only know my ABC's so can't unfortunately not post!

Hi Mr Z
I can only speak for myself. Having a great trading session. Got to love the market.


Peace

NZD/USD Advanced Get Wave Counts