Thread: Elliott Wave Trading Discussion

Originally Posted by aerocom

Sorry Guys;

I could not PM so hear is my analysis. It has not been edited and feed back is welcome.

Good Luck.

Thank you. Very good work. Obviously took a lot of effort.

Hey guys,
I hardly ever trade 5 min charts but this one was too good to pass up. Ending D seems to be over and I suspect we may be entering a iii of III of 3 in Euro. I did short at 5395 and expect new lows. However, I will exit half my position at 5345 which is the beginning of wave 1 of ending D on this 5 min chart.

I posted early on the GBPCHF pair... it was a perfect buy on the gap down in minor wave 4 when I posted Here's a look at the chart now..

Originally Posted by italm31

Hey guys,
I hardly ever trade 5 min charts but this one was too good to pass up. Ending D seems to be over and I suspect we may be entering a iii of III of 3 in Euro. I did short at 5395 and expect new lows. However, I will exit half my position at 5345 which is the beginning of wave 1 of ending D on this 5 min chart.

Hey guys,
First target of 5350 was hit. Classic ending D where we reached a minimum of begining of wave 1 of ending Diagonal C wave. (Basically where B ended) Although I expect new lows, I have secured a profit and cannot lose on this trade even with a stop above todays high on the remaining position. I suspect I will be in this trade for a few days but only time will tell.
Good luck to all.

Originally Posted by brad_1199

I posted early on the GBPCHF pair... it was a perfect buy on the gap down in minor wave 4 when I posted Here's a look at the chart now..

Good job Brad! Although I don't trade gaps, i certainly see the value in them now.

Lets get some opinions going on this monthly chart of GBPCHF.... From where I'm sitting.. This looks like a major multi year bottom occouring right now... There is lots of money at stake here.. This will be a huge multi year wave 3 or "C" starting right now... This is a Prime opportunity to hop on board early and hold for the long run since it will be carry trade However.. I also think from looking at the structure of the decline from the top last year around 2.5000 that we could be in a wave 4 correction now of Larger wave "C".. So We may be expecting one more bottom before a reversal.. But as it stands right now.. Price is moving upward and there is a Bullish Engulfing Candle On The Monthly chart after a substantial run down so I remain Bullish until given a reason not to be ...

The red arrows on the Daily chart are drawn a little steep... But it is for visual purpose

Don't say I never warned you all early about this one... lol

Originally Posted by italm31

Good job Brad! Although I don't trade gaps, i certainly see the value in them now.

Thanks Italm ...

For those euro traders..

We have 5 waves down completed, I now believe we are carving 5 waves up on the euro.

Same setup as last week the 5,35 osc (elliot wave osc) had declining strength on a new low.

Range trading has us hitting the old short-term high possibly this week.

The trend line break was a buy, confirmed with a XTL breakout. Action since last friday has been bullish to say the least.....action is mirror the violatility seen last week.

Hold on to your hats.

Just to open up a new can of worms.

My weekend reading is all about gann.

Here is my gann chart from last weeks move.

Also here is my gann chart for this weeks moves.

I'm not quite getting the time down on the hourly but my price levels are damn interesting.

For this weeks move, the 180 level is typically always the strongest. Followed by 270 and 360. Basic Gann understanding is that they are various degress in a cirlce.

90,180,270,360
45,90 etc etc.

Good Morning, guys
Here is a quick update on gbpjpy:
(I will not be posting a chart this morning)
My target was hit overnight, made 230 pips on long position. But, the currency is still going up, it looks like we completed 3 waves in the last wave, so far.
So, we might be looking at another 50 pips to the upside.
Since it was a triangle thrust up in the wave 4, wave 5 should be a terminal situation, followed by a reversal. Id this the major reversal we are all waiting for? Quite likely.
Who else is following this pair? Any other comments?
Mike

Originally Posted by Big Mike

Good Morning, guys
Here is a quick update on gbpjpy:
(I will not be posting a chart this morning)
My target was hit overnight, made 230 pips on long position. But, the currency is still going up, it looks like we completed 3 waves in the last wave, so far.
So, we might be looking at another 50 pips to the upside.
Since it was a triangle thrust up in the wave 4, wave 5 should be a terminal situation, followed by a reversal. Id this the major reversal we are all waiting for? Quite likely.
Who else is following this pair? Any other comments?
Mike

Congrats on the pips. It was a beautiful setup.

Thanks Guys;

Mike, I count five waves in all time frames especially if you consider the ending move to 1.6018 as a diagonal. I still question the validity and prefer to call it a flat and part of a complex wave 4 correction But, you infer by this statement that wave 5 "Afterwards, EURUSD should go higher, above 1.60, to complete wave 5 of III." has not completed and thus you are also viewing the "ending diagonal" as something else.

Could you elaborate further on why you believe there will be a new high before a major correction and share your reasoning.

Thanks.

Good Luck.

Very short term Cable count. If this is correct, then we should get a super buy opportunity in the next 2 days

Originally Posted by Big Mike

Also, there is talk (pure theory for now) about eliminating money altogether and introducing units based on energy, like 1 kWh instead.

Mike

Mike ,
you will always have money ,
otherwise you can't put a value on oil ..... or any other commodity

and besides the falling US Dollar is good for Us exports ,
people can now get American goods and services for much less around the world ....


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The answer to energy crisis is not to get another currency to
measure the value of oil ........
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The answer to the energy crisis is Water , ....................
(2 )part hydrogen - (1 )part oxygen

this will burn clean and not destroy the ozone layer ................

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Originally Posted by Jamie Saettele

Very short term Cable count. If this is correct, then we should get a super buy opportunity in the next 2 days

Jamie, I can't believe it -

you actually posted a 5 min chart ? .................

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