Thread: Elliott Wave Trading Discussion

Originally Posted by raisinghope

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

Thanks Guys. In my view the overall trend is down but there is resistance in the 1.6134 area extending down to 1.5900; then 1.5740 to about 1.5400. A break of 1.5900 should see a fall of about 160p.

Good Luck.

EU1H

Originally Posted by skinnypuppy

EU1H

Your image is stored at 666kb. I'm not saying anything bad about it and gave it a like, too! (that and I like your turning point)

BRENT 4H

Originally Posted by TAfool

Your image is stored at 666kb. I'm not saying anything bad about it and gave it a like, too! (that and I like your turning point)

thanks mate... it's because it's 666kb :evil:

USDTRY W

Here is a more bearish interpretation of the chart I posted Saturday in the Gbp$ forum. My thinking is lower because wave wave 5 of 3 was extended and has not been fully retraced. Any correction should retraced to the 5950 to 6040 area.

If this does not play out, I will revert to the count posted in the Gbp$ forum.

Good Luck.

Originally Posted by Luxuriant

IT is not unusual for 4th waves to form triangles. Fridays up, and down wave movement shed some light as to what is happening on the EURO. You normally can expect thrusts from triangles to be the width of the triangle, and a ending move. So I expect a drop to 1.2850 to 1.2800. (Matches Jimbo's post) Then wave 5 to start. Projections for wave 5 using the wave principle:
Wave Relationships:
Wave5 = Wave1
Wave5 = 1.618 x Wave1
Wave5 = .618 x Waves1 and 3

Note: Triangles offer low risk trading with proper money management and correct stop placement.
Down in the triangle = exit down
Up into the triangle = exit up

Note2: I normally shy away from this pair. But always look for the best trading opportunity on all pairs. This also would confirm that way to much money is short USD. So I again point out that if you are short USD be careful. The DXY has found support for now.

618 of 1 and 3 = 1.3450 area
Peace

Looks like it is going to be a sell off tomorrow if it does not start later today.

I had the pleasure to look a DOW 100 year printed chart this week end. It was several pages and a line chart. One thing that jumped out at me was pattern that occurred from about 1960 to late 1974 to early 1975 looked very similar to the pattern we are in now from 2000.

The differences in the patterns are the highs or peaks. The 1960-1967 peak was more proportional than the 2000-2007 peak and the 1972 high was above the 67 peak. The move that followed carried to a new low.

If we get a similar move today, the Dow will bottom in 2014 to 2015 near 5900.

Good Luck

skinnypuppy,

you know what's funny - since my main count was invalidated this morning I was looking for some alternatives and came up as similar thing. The only difference is that I see 1.2630/34 as end of (c) of Y of iv.

It will be interesting to see how it plays out...if it's bearish indeed

Originally Posted by JimboFX

skinnypuppy,

you know what's funny - since my main count was invalidated this morning I was looking for some alternatives and came up as similar thing. The only difference is that I see 1.2630/34 as end of (c) of Y of iv.

It will be interesting to see how it plays out...if it's bearish indeed

ahhahh.. nice, it is indeed a very similar count... the trick is these 3 waves in between.. from occam's razor they look like a huge abc countertrend correction to me... hope it works out, i'm banked on it

I think Dow is already completed 5 waves. Do you agree ?..

Originally Posted by JoeyLee

I think Dow is already completed 5 waves. Do you agree ?..

I think if 1422-1425 area can hold on S&P500 We will see one more leg up above 1500. I closed EUR/USD long from 1.28 Flat right now.
Peace

The rest of the forecast from 2 weeks ago should now develop:

http://harmonicelliottwave.blogspot....or-eurusd.html