Thread: Elliott Wave Trading Discussion

My 60min,240min, daily and weekly takes on the Euro.. to me suggests a high may be due soon...
Cheers
Rimu

Looks like the Skippy may be setting up for a minor wave3 down.. seems there may be support/resistance around 9180ish.. interesting times..
Cheers
.........Rimu

This is a long term Monthly chart of the Eur/Usd

Euro prices today have now touched the March 1995 highs !

really??

This is a track record of recent trade -set-ups

Successful Trading is about tracking your Averages ..............

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( See file below )

Hey guys,
Aussie is breaking down quite nicely. Still need a break below .9138 to confirm correction over though. Here's an update of yesterdays chart.

As far as the Euro goes, the ending expanded diagonal scenario has not been dis proven yet. Wave 5 of 5 of the diagonal is a series of 3s so far so the only logical conclusion would and an ending diagonal there as well. If this is correct, we are in the end stages as well. A move back to 1.45 means wave iv of that smaller degree diagonal is over. We then will have an entry as with a stop above the high. That would be the ultimate position trade (for me anyways) as I believe we are in the end stages for a while. If this does not pan out, will still need a break below 1.4473 to confirm (Wave iv blue) top.

In another scenario, we already have a top in place regarding the Euro. As we know diagonals should be a series of 3s so it wouldn't make much sense for the wave 5 of the expanded ending diagonal to end in 5 waves. So here would be another count where wave 5 of the diagonal would be a 7 waver putting a top in place. Either way, a break below x is confirmation. Or a break below b (wave 6) would be a little more aggressive as confirmation.

Hey guys,
I had put an entry price to sell AUD/NZD last week I believe and forgot about it. It was just hit. I guess that was a little sloppy on my part and Im not sure if I sould let it go. Im looking for a move back to wave IV area at 1.1350 or so. The Aussie is showing significant weakness against many pairs. Its not really a crazy mover and I didn't risk very much. I think Ill see where it goes. Heres a picture of the long-term view.

Well guys, Im off for the day as I have some prior committments I need to attend too. I think by the end of the day, we should get a lot of answers. If what I think is transpiring does happen, media will use speeches from 2 fed members today as catalyst.


GMT
14:00 PM
USD USD Fed's Mishkin Speaks at Risk Conference in New York Medium


GMT
15:00 PM
USD USD ISM Non-Manufacturing (MoM) (SEP) High 54.0 54.8 Show


GMT
17:00 PM
USD USD Fed's Kroszner Speaks on Subprime Mortgages in Virginia Medium

Both have to do with the credit debacle. I wouldn't worry about the Euro just yet. If this is a top, were in the very early stages of the decline. Will update my charts this evening. Good trading everyone.

I'm strictly following USDJPY and the smaller degree waves are not that clear in the 3rd wave; At least in comparison to the 1st wave of the same degree. Can anyone provide a count of the 1st wave and now the 3rd wave with their smaller waves. Thanks

Watch out this morning...it looks like the Yen pairs are ready to BREAK down. GBPJPY may be entering a 3rd wave lower.

Well...When should I make the trade. My counts aren't clear to me anymore. THey were VERY clear the 1st wave..but this 3rd wave is blurry..Mind helping me Jamie?

This is my USDJPY count. The count is very bearish as long as price is below 115.40...although price is likely to remain below 114.81. The objective is below 111.59. Those that follow my trades on fxcmtr would be short now from 115.30/40.

Yea, great I see what you see, but iii is not playing out like I thought it was. It's currently up. WHere do you think iii will actually start? the big 1..played out very smoothly while this one is very haywire.

It is not playing out as expected so maybe it is not iii afterall. Regardless, it could still be iii and there is not reason to think it is not until it is proven that it is not. It is important to remain confident in your analysis.