Thread: Elliott Wave Trading Discussion

Update

Look's like 3v might be in place ...wayting for 5v too be in place and then short
2 Chart's one with the price projection and one with the price pattern

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Attachment 142902

Originally Posted by Mozart

Update

Look's like 3v might be in place ...wayting for 5v too be in place and then short
2 Chart's one with the price projection and one with the price pattern

Attachment 142901
Attachment 142902

Update
And the outcome
5 m Chart

Attachment 143048

Don't forget that anyone is allowed to post charts and share their views - you don't need to post FXCM/DailyFX charts

But remember that posting links to websites with the intend to poach forum members is against the rules.

Well, as you can tell, I am confounded by the $cad. It is looniecy:>)

Here is another stab at it. I have lines drawn but I don't think it is a triangle. But, I do think the down move from 1.6187 that began in 2002 is not complete. I have gone back and looked at the move as an (A) wave of larger degree. In this view the move up to 1.3063 is more than 50% but less than 62% and could constitute a "(B)" wave. Assuming that is the case, then the move down from April 2009 is "A" of (C) and the pair is currently in "B" of (C) or "c" of C of "(B)". Either scenario would indicate the next move is up to complete the "(B)" wave and then down to complete.

Where is the bottom of the current move? To arrive at this answer, I have recounted the move down from 1.06 as a simple zig-zag correction. In this case, I assume the B wave is a irregular taking 20 days to complete. I can then count the the final move down "c" as a 5 wave move that is incomplete. I can however, arrive at a potential target based on wave equality of C=A at .9885. However, when counting wave C, the target at 5=1 is .9865 and using the 5th wave principle I get .9825.

There is a problem with time here. In this count wave 5 has already exceeded the time required for wave 1 and is already 2/3rd's of wave 3. In this case, time should be up today. Also, from a harmonic ratio standpoint .707(.71) today will be .71 times the time of wave A.

In conclusion, there is a high probability that the $cad will reverse today in the .9885 to .9825 area. However, from a time standpoint wave C is short of wave A and price may continue to decline until Aug 24 where the time of A and C will be equal.

Good Luck.

[QUOTE=aerocom;1285907] $cad. It is looniecy:>)


Looniecy indeed

I think it is in 4 of 5 of 5 at this time (may be just 4 of 3 but either way wrapping up) Targeting 1st stop .9876 @.618 of 1 in the final leg. this is my preference as other fibs like it around there but.....
2nd target .9838
risk reward getting friendlier and friendlier.
In small as of now and awaiting some impulsive presence northward sooner than later.

Originally Posted by Luxuriant

EUR/CAD




I was wrong triangle not complete yet. Closed out. Expectation below B. We shall see.
EDIT: EURO bounce coming EUR/GBP looks ready to take back losses too
Peace

I am getting divergence now on my EUR/CAD short. Larger degree wave 5 is about done. Probably near 121.00. I mention this because it should bode well for USD/CAD longs. I have been long USD/SGD, and USD/CHF. So no need for me to join the USD/CAd party.

Edit: Falling CAD/JPY would also help. Its all one market

USD/GBP now falling in wave 3. About time!

Lightning Round!

How are you positioned? Don't be shy, tell us the currency pair that you are either long, short or the level you are waiting for.

No need for a chart (unless you have the time) - you can even post a non FXCM/DailyFX chart!

This is just a great way to get everyone to participate and get a sense about market sentiment through our forum sampling!

Originally Posted by Alejandro Zambrano

Lightning Round!

How are you positioned? Don't be shy, tell us the currency pair that you are either long, short or the level you are waiting for.

No need for a chart (unless you have the time) - you can even post a non FXCM/DailyFX chart!

This is just a great way to get everyone to participate and get a sense about market sentiment through our forum sampling!

Long EU from 1.2270

Originally Posted by Alejandro Zambrano

Lightning Round!

How are you positioned? Don't be shy, tell us the currency pair that you are either long, short or the level you are waiting for.

No need for a chart (unless you have the time) - you can even post a non FXCM/DailyFX chart!




This is just a great way to get everyone to participate and get a sense about market sentiment through our forum sampling!

I am short aussie,
Long $cad looking to add in the .9950 area. May get one more swing low. Slight divergence.
Long $yen, possible wave c of flat underway.

Good Luck.

Update or the reason why Im still holding long position's

30 m Chart

Enjoy

Attachment 143452

$cad turn is near as there is a shooting star in Oil today on 4hr chart. Looks like aussie has a little more to go before 2 equal legs up.

Good Luck.

Here is what I think about the S&P. Looks like a move up to about 1480.62 maybe a little higher.

Good Luck.

I look to enter short again just below 1.2300. Impulsive move down changes view, and lower still.

Eur$ is about ready to move. Move down will probably go into the 1.2180 area.

Good Luck.

Lord Jacob Rothchild of the Rothchild banking dynasty has taken a huge short position on the EURO currency as speculation of collapse continue to surround the weak currency...

Read this short article ----> Lord Rothschild takes £130m bet against the euro - Yahoo! Finance UK