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02-13-2009, 03:32 PM
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USD/CHF
Here are the results of that USD/CHF trade. Both targets reached.
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02-13-2009, 03:41 PM
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Quote:
Originally Posted by justy10125
Here are the results of that USD/CHF trade. Both targets reached.
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A nice way to cap off the week! Care to share your most recent Cable count? |
02-13-2009, 03:53 PM
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GBP/USD
Here is the count I'm following for GBP/USD. I'll be looking to get short on a wave (ii) bounce next week.
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02-13-2009, 03:55 PM
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Cable
Quote:
Originally Posted by justy10125
Here is the count I'm following for GBP/USD. I'll be looking to get short on a wave (ii) bounce next week.
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Thanks Justy. This is what I am working with. I had a lot of trouble finding 5 waves up to complete the C wave of A/1, so I thought that it was just an A wave in a bigger ABC? To be clearer, from your b point to your C point of B, I had difficulty counting 5 waves.
Last edited by apipintime; 02-13-2009 at 03:58 PM..
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02-13-2009, 04:07 PM
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GBP/USD
Today's decline in GBP/USD is in five waves. So that is probably either wave (A) or wave (1). I think if you get short on a bounce, you'll be able to make some money either way.
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02-13-2009, 04:20 PM
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Quote:
Originally Posted by justy10125
Today's decline in GBP/USD is in five waves. So that is probably either wave (A) or wave (1). I think if you get short on a bounce, you'll be able to make some money either way.
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I guess this is the part of Elliott Wave that confuses me a little. Because I couldn't effectively count 5 waves in c to complete B, it made me change my initial count of the 5 wave drop that you have just labelled, to an ABC. Which in turn made me decide to exit my short that I had entered at 1.4467 (mind you for a nice 85 pip pop) instead of holding onto it. Lessons I am learning, I guess. Thanks. |
02-13-2009, 04:33 PM
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i wouldnt really agree these are 5 waves down in cable, they fit better as three, but there should be a safe short entry from 1,45 in the first days of the new week in any case.. for at least 200 pips.
lets see how many dollar positions i can load up, as there will be entries in usdjpy, usdcad and eurusd, as well..
edit: it broke the low quite heavily, switching to your five wave count, justy - excellent 
Last edited by qsx; 02-13-2009 at 04:49 PM..
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02-13-2009, 04:41 PM
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USD/JPY
It looks like there could be a little more upside potential remaining in USD/JPY. One more pop higher may complete wave (C) of the triangle.
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02-13-2009, 04:48 PM
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looking at the usdcad.. a very interesting thing is happening - i am expecting a 5 wave drop to 1,20, but what i get is a three wave move as a start.. which would bring a diagonal in the (c) position of E in the daily triangle to light.. repeating what we know.. diagonals occur in Cs in the end of complex corrections, and show a lack of strenght in the direction of the trend.. so it seems to make sense in that position.
looking at it this way, it will be a very safe and clear long entry.. if it does not truncate along the way; i will be monitoring this one very closely from tuesday/wednesday, as a important Intermediate, and MediumTerm Delta low are knocking on the door... cant wait
Last edited by qsx; 02-13-2009 at 04:50 PM..
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02-13-2009, 04:56 PM
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Kudos
Just wanted to thank everybody for all of the time and effort it takes to keep this forum going. It truly is an invaluable resource for anyone looking to learn or hone their EW skills. Great work!
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02-13-2009, 05:28 PM
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Quote:
Originally Posted by justy10125
It looks like there could be a little more upside potential remaining in USD/JPY. One more pop higher may complete wave (C) of the triangle.
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Justy, Why do you have the upper line of the triangle drawn where you do? I have mine across the tops of "a" and "c" and now "e" but yours is drawn higher. Help me understand please. Thanks, 
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02-13-2009, 05:49 PM
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Quote:
Originally Posted by Grin
Justy, Why do you have the upper line of the triangle drawn where you do? I have mine across the tops of "a" and "c" and now "e" but yours is drawn higher. Help me understand please. Thanks, |
Because I think it's a descending triangle that's forming and I still think wave (C) is not finished.
Why are you showing wave (E) as a five-wave move? Triangle legs are all three-wave moves.
Last edited by justy10125; 02-13-2009 at 05:51 PM..
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02-13-2009, 06:32 PM
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Quote:
Originally Posted by justy10125
Why are you showing wave (E) as a five-wave move? Triangle legs are all three-wave moves.
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Because I'm still very much a student and mislabel things and need help from people like you. Thanks! |
02-13-2009, 06:34 PM
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USDJPY
Until today it looked like a triangle playing out in USDJPY, but after the sizeable rally today, I think a flat correction is now the obvious... Which means we need one more high above the wave "A" high at 94.62, but I don't think price will be making any headway above there.. I think we're going to see a new high by only a few pips above 94.62, either that or a double top off 94.62.. One of the two ...
Last edited by brad_1199; 04-09-2009 at 12:13 AM..
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