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07-05-2009, 11:33 PM
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Quote:
Originally Posted by Zero Gravity
Wave 1 begins at the first move down from the peak of wave 5 at 1.6014 that occured on 4/25/08. My daily chart data only goes back 12 months.....:-(
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Under your count, wave (2) exceeds the beginning of wave (1), which goes against the Elliott Wave rules. On all cash FX charting programs I've seen, the July 2008 high (your wave 2) exceeds the April 2008 high (the beginning of your wave 1), therefore making your five-wave decline an invalid count. |
07-05-2009, 11:39 PM
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Usd/Cad
This is my favorite chart , going into next early next week Us session ......... 
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07-05-2009, 11:54 PM
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Usd/Yen
Chart Update : ///////////
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Only a Probability ! ................ Not Cast in Stone !
Last edited by marketwavez2; 07-06-2009 at 12:13 AM..
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07-05-2009, 11:57 PM
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Eur/Usd
Long Term
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07-06-2009, 12:02 AM
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Quote:
Originally Posted by justy10125
Under your count, wave (2) exceeds the beginning of wave (1), which goes against the Elliott Wave rules. On all cash FX charting programs I've seen, the July 2008 high (your wave 2) exceeds the April 2008 high (the beginning of your wave 1), therefore making your five-wave decline an invalid count.
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You could be right....and E-Signal shows a 6 pip differential....Not sure I would through out a daily count on 6 pips though.
Here the chart is moved into a monthly timeframe.
For argument sake, let's call it a 3 wave decline...what does that result in. A 3, 3, and now 5 for wave C perhaps?
How are you charting it?
__________________
Chemistry....It's Elementary!
Last edited by Zero Gravity; 07-06-2009 at 12:06 AM..
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07-06-2009, 12:40 AM
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GBPJPY
Quote:
Originally Posted by cmellon
Hi Brad,
Like AP said, that target for GBP USD is towards the end of this year. Likewise for GBP JPY, I am not saying we are now ready to break 118. We'll probably see a medium term trend down until the end of the summer, before rallying higher again.
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Cmellon... I take it you are thinking GBPJPY is going to break through the rising channel some time soon ???
GBPJPY Daily Chart ---->
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07-06-2009, 12:45 AM
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Quote:
Originally Posted by brad_1199
Cmellon... I take it you are thinking GBPJPY is going to break through the rising channel some time soon ???
GBPJPY Daily Chart ---->
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Yes, I think GBP JPY would break 154 soon. GBP JPY should be in medium term downtrend to at least around mid August. |
07-06-2009, 12:49 AM
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Quote:
Originally Posted by cmellon
Yes, I think GBP JPY would break 154 soon. GBP JPY should be in medium term downtrend to at least around mid August.
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If we break below the rising channel, things will be very interesting ... Thanx 4 the quick reply  |
07-06-2009, 12:58 AM
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Quote:
Originally Posted by brad_1199
If we break below the rising channel, things will be very interesting ... Thanx 4 the quick reply |
You are welcome.
Here are two of my latest posts on GBP JPY. It has the details of my thought process. I first identified a top at 162.6 using Delta logic on June 24 when price broke 154.85.
Elliott Wave Trading Discussion
And then here's the update of what's happening on July 2
Elliott Wave Trading Discussion |
07-06-2009, 01:40 AM
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GBPJPY
Quote:
Originally Posted by cmellon
You are welcome.
Here are two of my latest posts on GBP JPY. It has the details of my thought process. I first identified a top at 162.6 using Delta logic on June 24 when price broke 154.85.
Elliott Wave Trading Discussion
And then here's the update of what's happening on July 2
Elliott Wave Trading Discussion |
Here's one more set of channel lines you can keep eye on as well... Just from watching where this market has been finding the major support and resistance points, I will be paying close attention to this channel as well if the first one I posted earlier gives way....
GBPJPY Daily Chart ---->
Last edited by brad_1199; 07-06-2009 at 01:42 AM..
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07-06-2009, 02:05 AM
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EURUSD
Quote:
Originally Posted by cmellon
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I actually wouldn't be surprised to see EURUSD decline a bit... I was holding long from 1.3000 looking for a 1.4500 target but have already dumped my longs and flipped to short after seeing how price is being rejected at the over head Fibonacci cluster....
EURUSD Daily Chart ----------->
Last edited by brad_1199; 07-06-2009 at 02:45 AM..
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07-06-2009, 02:59 AM
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GBPUSD
THERE GOES CABLE
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07-06-2009, 03:06 AM
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GBPJPY
THERE GOES THE BEAST
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07-06-2009, 03:15 AM
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EURJPY
Just what in the heck is going on over here ??? Hmmmmm... 
EURJPY Daily Chart ---->
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