Thread: Elliott Wave Trading Discussion

Good Morning Traders! I hope you have had a relaxing weekend. This last week of the quarter and the month could see a continuation of the volatile two-way price action seen of Friday.
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Hello all;

Hope you had a great weekend. I have looked at the GBP$ count critically and have two (2) possibilites; up or down:>) Well, I thought I'd throw that in for good fun.

From a time standpoint, all my calculations have time up between 9/16 and 9/22. I believe time is up. However, from a price standpoint, I have a slightly higher price price as a probability. When counting the long term move as and a-b-c of D and b as a flat yields a price of 1.6333. All other price targets based on my current counts are met.

Assuming the 5 wave up move that ended on 9/17 at 1.6271 was the end of the correction, I arrive at the count presented in this chart. As a result, I think the Gbp$ low is in possibly for the week as C=A at 1.6199. I therefore, expect a corrective move into the 1.6260 to 1.6300 area.

Other possibilities are wave 1 down reaching a low below 1.6160. Alternatively, if the expanded flat ends at 1.6192, is a wave 4 correction, price is likely to move higher.

Good Luck.

I think it is time to look lower in equities. There may be a little more in the DOW(less than 200 points) and Gold has moved within 7pojnts of my target.

Good Luck.

Originally Posted by JimboFX

There you go Luxuriant,

one more triangle in blue wave b

Alternative to the triangle idea........

add at retest





and a 5m time frame chart for usdjpy:

is it now the time to buy Dollar and sell euro?

I think that it is not the time to buy dollar yet.

Here is a follow up to the S&P 500 post on 9/14. I'm not singing yet but, it looks like "She's Gone."

Good Luck.

Originally Posted by aerocom

Here is a follow up to the S&P 500 post on 9/14. I'm not singing yet but, it looks like "She's Gone."

Good Luck.

Yeah! Dude, that is eye candy to me! Below 1393 is confirmation and believe a good top is in. I, however, have a slightly different count with some more upside but the outcome is eventually the same. I have a truncated 5th where you have II and I think (hope?) it is the first of the final set that must end below 1498. In case it isn't obvious after all these years, I always look for a wedge.

Here is the larger view of what you showed:
http://www.tafool.com/Charts/SP500092612.png

And the 1hr close up of the last move by my count showing 5 waves:

TAfool
http://www.tafool.com/Charts/SP5000926121h.png

The Gbp$ has completed wave C of y with both equal at 6242 and wave y longer that W by 20p. Is this it? Or, will there be zzzzz!

Good Luck.

Originally Posted by aerocom

The Gbp$ has completed wave C of y with both equal at 6242 and wave y longer that W by 20p. Is this it? Or, will there be zzzzz!

Good Luck.

hello aerocom, I am still short from 6300 now with stop at 6290 looking for 6100, where I will reverse long for 1.63+
cheers and gl

Originally Posted by tomaz

hello aerocom, I am still short from 6300 now with stop at 6290 looking for 6100, where I will reverse long for 1.63+
cheers and gl

I won't. If you go back and look at the Gbp$ for the past 5 years, you will see some interesting signals. The cycles equate to a period of about 18 lunar months (about 28 day periods.) They break down to about 9 months down and 9 up. Each 9 month period subdivides into 3 periods of 3 months and these further subdivide. As an example, if this move is an a-b-c, a would last to about October 29; b to about November 28 and; c to about December 28. Then B would unfold. I the case of the Gbp$, I think the next move would be E.

I plan to hold until at least the end of Oct.

Good Luck.

Originally Posted by longshot-nl

i am short too, its not over though i don't use SL for this tf.
gu still needs entry.

daily
Attachment 150166

weekly
Attachment 150165

weekly could be pennant. speculative chart:
Attachment 150175

1.5975 Bearish (At this time 3 wave movement down) See if 1.5850 supports.

Edit: Full moon new cycle. Maybe kick start it. Good Luck, and peace.

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you nailed it aerocom, congrats, good work it is.
so now can we pretty sure that it is heading down ?

Originally Posted by aerocom

Hello all;

Hope you had a great weekend. I have looked at the GBP$ count critically and have two (2) possibilites; up or down:>) Well, I thought I'd throw that in for good fun.

From a time standpoint, all my calculations have time up between 9/16 and 9/22. I believe time is up. However, from a price standpoint, I have a slightly higher price price as a probability. When counting the long term move as and a-b-c of D and b as a flat yields a price of 1.6333. All other price targets based on my current counts are met.

Assuming the 5 wave up move that ended on 9/17 at 1.6271 was the end of the correction, I arrive at the count presented in this chart. As a result, I think the Gbp$ low is in possibly for the week as C=A at 1.6199. I therefore, expect a corrective move into the 1.6260 to 1.6300 area.

Other possibilities are wave 1 down reaching a low below 1.6160. Alternatively, if the expanded flat ends at 1.6192, is a wave 4 correction, price is likely to move higher.

Good Luck.