Thread: Elliott Wave Trading Discussion

Hi Fiedlio,
Any news on this pair as today its up nearly 100pips just in last few hours of european trading. Any clues for further move or are we waiting for the top end close before we go short with Brad_1199. Thanks

Originally Posted by SKS

Hi Fiedlio,
Any news on this pair as today its up nearly 100pips just in last few hours of european trading. Any clues for further move or are we waiting for the top end close before we go short with Brad_1199. Thanks

I am not convinced that the pair will not go higher.If we are at wave 5 of the move started 17th of March then the turning points would be 170.42,171.94,173.50.We have a clear view because wave 3 158.59-169.45 can not be the shortest wave meaning that wave 5 will be the shortest.I think that the opening of Wall street and the move in usd/jpy will show us the way.Of course the weekly close will be significant as the pair is in the same range the last month.

Gbp/Usd

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Wave 5 low failed to materialize ..............

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Eur/Usd

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Wave-count

Eur/Usd

Here's another look at the Euro ............

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Jamie,

The 156.11 is the "line in the sand". Looking ahead, IF it is taken out are you reversing your position or just turning neutral? Thanks.

really nice charts guys.

hey brad i like ur analysis for EJ

do u think it could fall to the targets near 163.50 and 160 before visiting 170 or 171 ?

regards,

Hourly look at EUR/USD. Possible scenario is: 5-3-5 down from the high is wave A. We are tracing out NOW a wave B triangle and are in wave e at the moment. Wave C out of the triangle would project to approximately the low 156's right where Jamie's line in the sand is. Then UP and Away in the big leg up.

Originally Posted by diver

Hourly look at EUR/USD. Possible scenario is: 5-3-5 down from the high is wave A. We are tracing out NOW a wave B triangle and are in wave e at the moment. Wave C out of the triangle would project to approximately the low 156's right where Jamie's line in the sand is. Then UP and Away in the big leg up.

Diver,

Great chart and explination of what you think is happening.

Thanks,

TP

Originally Posted by diver

Jamie,

The 156.11 is the "line in the sand". Looking ahead, IF it is taken out are you reversing your position or just turning neutral? Thanks.

I would be neutral at that point....but looking to short. Obviously, I would need to see the structure to that point in order to identify high probability short opportunities.

Originally Posted by diver

Hourly look at EUR/USD. Possible scenario is: 5-3-5 down from the high is wave A. We are tracing out NOW a wave B triangle and are in wave e at the moment. Wave C out of the triangle would project to approximately the low 156's right where Jamie's line in the sand is. Then UP and Away in the big leg up.

Hey TEX...here is a labeling of what you are referring to. I like this count.

Originally Posted by texas pipster

Diver,

Great chart and explination of what you think is happening.

Thanks,

TP

Thanks PIP. :-)

I'm short on the failure just now to make any headway to the upper trend line. S/L at a break of my labeled wave a. We'll see how it plays out. If I'm correct I might catch a nice move down to the 1.56-1.57 area. If I'm wrong I'm risking around 40-60 pips.

Hey Diver,
As bullish as I am USD, thats a great count. Il have to keep my eyes glued to that one since Im already short. Thanks for your perspective.

Now, here's an update of the Eur/Jpy. We seem to have completed 5 waves up without making a new high. Is this a truncation or Is this simply I of 5. Im not taking any new positions going into the weekend but if there is a fall now, will watch to see if it is impulsive or corrective. Im hoping wave 5 is extended as I have a target of 176 if it is. Thats where I would look to short heavily. Stay tuned.

Originally Posted by italm31

Hey Diver,
As bullish as I am USD, thats a great count. Il have to keep my eyes glued to that one since Im already short. Thanks for your perspective.

Now, here's an update of the Eur/Jpy. We seem to have completed 5 waves up without making a new high. Is this a truncation or Is this simply I of 5. Im not taking any new positions going into the weekend but if there is a fall now, will watch to see if it is impulsive or corrective. Im hoping wave 5 is extended as I have a target of 176 if it is. Thats where I would look to short heavily. Stay tuned.

Italm,
I am waiting to pull the trigger.I will give you the signal.But I will give you a puzzle to solve
EUR/JPY=EUR/USD X USD/JPY
IF EUR/JPY=176
WHAT WILL BE THE PRICE FOR THE OTHER TWO PAIRS?

Originally Posted by FIDELIO

Italm,
I am waiting to pull the trigger.I will give you the signal.But I will give you a puzzle to solve
EUR/JPY=EUR/USD X USD/JPY
IF EUR/JPY=176
WHAT WILL BE THE PRICE FOR THE OTHER TWO PAIRS?

The answer would be variable. It would seem that the EUR/USD and USD/JPY could be any number of combinations (higher or lower) that might still = 176. I'm not sure how you can answer this question with a specific number.