Thread: Elliott Wave Trading Discussion

Us Dollar
Usd/Chf

//////////////////////////////////////////////////////

Here's another chart of the Us Dollar
again ,
illustrating the Probability of a wave " B "rally
--------------------------------------------------

Only Time will tell , now
----------------------------------------------

Could be Market, the only possible 5 wave count is the second one I posted here, because the first is invalid due to wave 4 interfering with wave 1.
However, the 3rd one looks most probable.. (its time to choose...)

Now, If I look at the correlation between the pairs, it looks like €$ is still highly correlated
EDIT: trying to find USDCHF...Chart no work.. Okay works now..

That yours your count pippin not mine ............. !
--------------------------------------------------
in my chart i'm looking for a wave " B " rally

------------------------------------------------

i have already explained in here that
none is more probable that the other
-------------------------------------------------------------

you have followed Elliott 's rule with your count #2 an #3 ,
there no question about that , ......that should be enough for you

you have not followed Elliott's rule with your chart #1
you have wave 4 overlapping wave 1 in your chart "#1

i thought you learned that lesson already of not to overlap wave 4 already

i am in no competition with any one when it comes to wave-counts
and no one else should be either ....
-------------------------------------------------------------------

Good luck with what you see Pipin ........

All the best to you .......

just always remeber ,
your count is not the only count that is occuring
and your count is no better than anybody else's in here

/////////////////////////////////////////////////////////////////////////

Elliott waves Basics

---------------------------

Originally Posted by marketwavez2

That yours your count pippin not mine ............. !
--------------------------------------------------
in my chart i'm looking for a wave " B " rally

------------------------------------------------

i have already explained in here that
none is more probable that the other
-------------------------------------------------------------

you have followed elliott 's rule with your count #2 an #3 ,
there no question about that , ......that should be enough for you

you ghave not followed elliots rule with your chart #1
you have wave 4 overlapping wave 1 in your chart "#1

i thought you learned that less already not to overlap wave 4 already

i am in no competition with any one when it comes to wave-counts
and no one else should be either ....
-------------------------------------------------------------------

Good luck with what you see Pipin ........

All the best to you .......

just always remeber ,
your count is not the only count that is occuring
and your count is no better than anybody else's in here

/////////////////////////////////////////////////////////////////////////

Indeed, just trying to find 5 waves down to complete A. Right now the most probable to my count is stuck at 3, the alternate is at 5.
Time will tell...

Originally Posted by marketwavez2

Elliott waves Basics

---------------------------

Go back and read pippins post again. He was saying that the first possibility he put up there was indeed invalid because of the overlap. He was just narrowing down the possible counts and explaining his reasoning for doing so.

The only time the overlapping of 4th wave over wave 1

is allowed is in Diagonals chart patterns
//////////////////////////////////////////////////////////////////////////
Diagonal are Rare :
and you have to make sure that price touches the resistance line
and support-lines within its structure as exactly as possible


////////////////////////////////////////////////////////////////////////////
Justy, is the only one that i see in here that observes this rule

------------------------------------------------------------------------
Duyman on the other hand ,
for some reason keeps on overlapping wave 4 over wave 1 in his charts
i dont know why ,

///////////////////////////////////////////////////////////////////////////////

Here is one of Justy's recent charts ,

identifying a Diagoinal Pattern .......
that lead to a massive price decline
--------------------------------------------------------------------------
This what you will able to see when you do your homework properly

------------------------------------------------------------------------

On the daily chart USDCHF cannot move below 1.18, as it would violate EW rules. At the same time, it must reach 1.825 or lower.
So, here it is: the end must be between 1.1800 and 1.1825

Hi Mike , how was your trip ?

-------------------------------------------
though i read some where you had left

--------------------------------------------

Originally Posted by marketwavez2

Hi Mike , how was your trip ?

-------------------------------------------
though i read some where you had left

--------------------------------------------

Trip was good, thanks.
I was in Europe; it is always nice to go there in the fall. Not many tourists this time of the year. Prices are still high, but not as bad as in the summer.
Nice to be back, though.
Lots of problems in Europe; we discussed them many times on this Forum.
I am back in Canada now. Canada seems to be weathering this storm relatively well; maybe better than other places.

Originally Posted by justy10125

Here is the link to the book I have:

Amazon.com: Elliott Wave Principle: Key to Market Behavior (Wiley Trading Advantage): A. J. Frost, Robert R., Jr. Prechter, Charles J. Collins: Books

I trade (B) waves on 4-hour charts and above. I use 1/4 my normal position size.

Thanks Justy.

It seems to me that corrections are more confusing/harder to see than impulses. I've been trying to get a medium term count for gold but it seems pretty confusing. From this I would assume that we are in a correction.

Does anyone have any ideas for this ?

Guys, many of us agree that dollar franc has completed corrective pattern on the hourly - being rejected by the 76.4 fibo retracement level. As I am looking to find a supportive count on the monthly to justify any short position, I could only see the count below. However, it does not look much reliable, especially the painted area. What do you think?

Yes Big Mike, that is the most probable count for USDCHF in my count as well. The EURUSD will be exactly reverse. There is still a 200pip downward potential in that pair, since wave 1 was about 200pips.

Now, remember Market, what you see is not always what you trade and what you trade is not always what you see. Those are different things, its like a game of chess. You need to exclude certain scenario's. In this case you have to wait for conformation in this case a break of 2645 to go short.
On the upside however in this case I am very conservative and 1.2835 would warrant a long position to test the upper TL at 1.3000.