Elliott Wave Trading Discussion - Page 938

brad_1199 · #**14056** (**permalink**) 07-06-2009, 03:23 AM

Cmellon... Kudos buddy

Excellent call on GBPJPY... I must admit I was very skeptical.. Hats Off

cmellon · #**14057** (**permalink**) 07-06-2009, 03:31 AM

Quote:

Originally Posted by brad_1199

Cmellon... Kudos buddy

Excellent call on GBPJPY... I must admit I was very skeptical.. Hats Off

Thanks Brad

Turning point is the toughest to trade, since it's essentially picking a top and bottom, so it's very understandable for anyone to be skeptical.

brad_1199 · #**14058** (**permalink**) 07-06-2009, 03:57 AM

Here's what I'm looking at as a likely possibility on the daily chart of CABLE..... If price plays out like this .. GBPJPY should end up going much lower as well...

Andy K · #**14059** (**permalink**) 07-06-2009, 04:09 AM

I see potential for more upside in EURGBP

I had posted 2 positions a few pages back, both long from 8520, one short term and one medium term trade. My short term target has been reached (8640) but I'm letting this run as I see considerable upside....

Andy K · #**14060** (**permalink**) 07-06-2009, 04:15 AM

......and the schoolboy error of the week goes to me......!

I posted this a few days back and entered a position on a new Spreadbetting broker I am trying out. Unfortunately I forgot to set the position to roll-over so it was closed at the end of the day (breakeven). Since then, look whats happened.....

brad_1199 · #**14061** (**permalink**) 07-06-2009, 04:24 AM

Quote:

Originally Posted by Andy K

I see potential for more upside in EURGBP

I had posted 2 positions a few pages back, both long from 8520, one short term and one medium term trade. My short term target has been reached (8640) but I'm letting this run as I see considerable upside....

I think EURGBP is deffinately due for some more upside, but I don't think the larger decline is finished just yet... Perhaps we may have a triple zig zag here on the daily... I'll be looking for a top to short up near .8800 if we get there...

EURGBP Daily Chart -------->

brad_1199 · #**14062** (**permalink**) 07-06-2009, 05:11 AM

Check Out This Long Term Chart of EURCAD.... That sure looks like one big WXY to me.... Price is sitting at perfect entry for long term short positions too

I think I'll give it a try

Nick129 · #**14063** (**permalink**) 07-06-2009, 05:42 AM

Brad, thanks for your posts. Arrived three months ago and still learning from all of you guys, but shall confess that I specifically appreciate your long term views

cheers

brad_1199 · #**14064** (**permalink**) 07-06-2009, 05:52 AM

Quote:

Originally Posted by Nick129

Brad, thanks for your posts. Arrived three months ago and still learning from all of you guys, but shall confess that I specifically appreciate your long term views

cheers

Hi Nick... No problem bud

We've got an awesome crew of traders in here, but I'm one of the few that digs into the really long term charts... Stick around, you'll learn a wealth of information from the people in this forum

--- Do you use elliott wave analysis in your trading ?? Have any charts you care to share ??

Andy K · #**14065** (**permalink**) 07-06-2009, 07:40 AM

Quote:

Originally Posted by brad_1199

I think EURGBP is deffinately due for some more upside, but I don't think the larger decline is finished just yet... Perhaps we may have a triple zig zag here on the daily... I'll be looking for a top to short up near .8800 if we get there...

EURGBP Daily Chart -------->

Exactly right Brad. My target is around that area - I think the most likely scenario is that we're in a wave C at the moment which should be worth a couple of hundred pips (C of X under your scenario)

Also I like your EURCAD set up.... good spot IMO

cmellon · #**14066** (**permalink**) 07-06-2009, 07:50 AM

Price action with GBP USD has recently left me scratching my head, especially with the pair currently in inversion time period (ITP) for both ITD and MTD time frame.

But it looks now the situation is becoming a little more clear and here's my latest count that I am using.

In the ITD chart, we see that LTD 15 high arrived late at 1.674.
ITD, MTD, and LTD are therefore now all travelling down.

ITD 4 low will be due around July 13.
A break of MTD 1 at 1.58 is required to confirm the position of LTD 15 high.

Although all time frames are now travelling down, LTD 16 low is going to arrive not too long from now. I circle the LTD 16 low time zone. I think it's likely that the downtrend will last until mid August as per my circle.

Looking at bigger picture LTD chart, once we finish this LTD 16 downmove, we'll rally higher one more time from probably around mid August to November of this year.

kaori · #**14067** (**permalink**) 07-06-2009, 08:05 AM

I wonder has anyone noticed but all yen crosses has broke first time rising 240 min log channels either in last night in asian market or today in european market.

Eur-Jpy, Aud-Jpy, Gbp-Jpy to list a few while Cad-Jpy made it while ago allready.

Edit; Gbp-Jpy is actually still in the channel, just and just, but very bottom of it - slightly re-checked the line, 2 millimeters means a lot with this big charts, but rest are broken.

fazi · #**14068** (**permalink**) 07-06-2009, 08:44 AM

Quote:

Originally Posted by cmellon

Price action with GBP USD has recently left me scratching my head, especially with the pair currently in inversion time period (ITP) for both ITD and MTD time frame.

But it looks now the situation is becoming a little more clear and here's my latest count that I am using.

In the ITD chart, we see that LTD 15 high arrived late at 1.674.
ITD, MTD, and LTD are therefore now all travelling down.

ITD 4 low will be due around July 13.
A break of MTD 1 at 1.58 is required to confirm the position of LTD 15 high.

Although all time frames are now travelling down, LTD 16 low is going to arrive not too long from now. I circle the LTD 16 low time zone. I think it's likely that the downtrend will last until mid August as per my circle.

Looking at bigger picture LTD chart, once we finish this LTD 16 downmove, we'll rally higher one more time from probably around mid August to November of this year.

Hi guys,

Cmellon - could you please take a look at these charts (4h especially) and express your opinion about how the x wave triangle (running flat?, expanded flat?) would fit in the delta count.

Brad - what do you think about this ?

I`ve been thinking about the following scenario.

Patryk

cmellon · #**14069** (**permalink**) 07-06-2009, 09:03 AM

Quote:

Originally Posted by fazi

Hi guys,

Cmellon - could you please take a look at these charts (4h especially) and express your opinion about how the x wave triangle (running flat?, expanded flat?) would fit in the delta count.

Brad - what do you think about this ?

I`ve been thinking about the following scenario.

Patryk

Hi P,

Here's an alternate Delta count where LTD 15 high has arrived on time and LTD 16 low arrived a little early. In a strong SLTD upmove, this could happen.

However, after giving it a thought over the weekend and by looking at cross currencies Delta projection, it seems that the more likely scenario is the LTD 15 late arrival per my previous chart. But a break of 1.58 is still needed to confirm that count.

The alternate count here is valid as long as 1.58 is not broken.

ravno · #**14070** (**permalink**) 07-06-2009, 09:11 AM

Quote:

Originally Posted by fazi

Hi guys,

Cmellon - could you please take a look at these charts (4h especially) and express your opinion about how the x wave triangle (running flat?, expanded flat?) would fit in the delta count.

Brad - what do you think about this ?

I`ve been thinking about the following scenario.

Patryk

Here is the most bearish scenarion for Cable...
I this case, the Cable will eventually drop below or at least very close to the last big low, namely 1,35...