Elliot Wave Trading

[Jamie Saettele]

minimum would be 23.6 but 38.2 seems much more likely. since wave W is a 5 wave impulse, then we are likely looking at a zigzag, so the maximum retracement would be 61.8

[blueman]

Originally Posted by Jamie Saettele minimum would be 23.6 but 38.2 seems much more likely. since wave W is a 5 wave impulse, then we are likely looking at a zigzag, so the maximum retracement would be 61.8

Thanks, have a nice weekend

[Jamie Saettele]

Originally Posted by blueman Thanks, have a nice weekend

sorry blueman...let me correct myself. The rally off of the low is in 3 waves and therefore we will see a flat. A flat will retrace at least 61.8 of the rise and probably more like 90% or even make a new low.

[serhito]

Originally Posted by Jamie Saettele I'd like to point out that the Dow just hit the 61.8% of its decline. This likely completes the first leg of a 3 leg correction. I am labeling it as W in a W-X-Y (complex). The Dow is entering Wave X then. [/url]

Jamie,

What do you look for to establish that it is going to be a complex correction ?

Thanks

[Jamie Saettele]

Originally Posted by serhito Jamie, What do you look for to establish that it is going to be a complex correction ? Thanks

Time...the rally off of the low in the Dow to this point only took 2 weeks...far shorter than the decline that preceeded it. The decline from the top actually took 6 weeks. What we have then is a perfect scenario for a complex correction which will occur in 3 segments...each taking 2 weeks to match the time that the decline took.....6 weeks. While price is most important, time must also be considered.

[marketwavez2]

Gbp/Usd

Update Time :
See Original Post #1908
http://www.learncurrencytrading.com/...923#post140923

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The Britsh Pound simply ran into a End of a Wave "B " High.............
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[marketwavez2]

Gbp/Usd
-Now we have the decline .........................

Price finally broke down this week......

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

All Charts were all posted here .........Early , for all in here to see .........

[marketwavez2]

Computers to Replace Traders

Computers will someday replace Traders because more banks are moving towards all-electronic algorithmic trading. The number of traders employed in London will have fallen by a massive 90% by 2015 :
---------------------------------------------------------------
http://www.finextra.com/fullstory.asp?id=15955

[Big Mike]

Originally Posted by marketwavez2 Gbp/Usd -Now we have the decline ......................... Price finally broke down this week...... ////////////////////////////////////////////////////////////////////////// All Charts were all posted here .........Early , for all in here to see .........

Nice work, marketwavez.
The bottom earlier this week at 2.017 happened to be barely penetrating 61.8% Fib, measured from 1.965 low (Aug 20) and 2.116 (Nov 7). It was instantly rejected, so it appears to be a significant bottom for GBP/USD.
Also, i am getting positive divergence on daily MACD, STOCH and Momentum.
Further, the bottom earlier this week was in a form of a spinning top (or a high wave), which is not significant by itself, but is an added argument for a change in direction.
Good Luck trading to you.

[4xis2ez]

Originally Posted by marketwavez2 Computers to Replace Traders Computers will someday replace Traders because more banks are moving towards all-electronic algorithmic trading. The number of traders employed in London will have fallen by a massive 90% by 2015 : --------------------------------------------------------------- http://www.finextra.com/fullstory.asp?id=15955

I wonder how many were EW's.

[edisko]

My dear ellioticians, have you ever thought about relation betwen option implied volatility and e.w? I mean there could be something to do with as both are driven by emotions and fears. In times of fast price moving options writters sell them expensive as they are unsure/scared about where price could go. When these fast moves comes? I think in 3rd, maybe in sharp 2nds and in trend reversals. What do you mean? Could this identify a wave position in wave cascade?
Two charts attached for eurusd and gbpusd, red line is option implied volatility, compared with price and Average True Range (10 days).
Opinions warmly welcomed.

[edisko]

Originally Posted by italm31 My count for the USD/Jpy still stands. Until wave 1 (red) is breeched, I still belive it might be a wave 4 of 3 down. If usd weakness begins today as I think it might, wave 5 of 3 should begin.

italm, I see a possiblity we are in 2nd of your blue 3. To be clear, I suppose blue 3 could be subdivided and 1st ended at 107,10, 2nd could retrace to 113,80 (62%) as proposed Jamie.

[spin the o]

wouldn't computer trading make EW obsolete?
Computers have no emotions...

[edisko]

Seems like triangel in wave B.
What is interesting, whole move equals to the prior correction from top 2,0650.

[italm31]

Originally Posted by edisko italm, I see a possiblity we are in 2nd of your blue 3. To be clear, I suppose blue 3 could be subdivided and 1st ended at 107,10, 2nd could retrace to 113,80 (62%) as proposed Jamie.

Hey edisko,
The count you describe was my original count but has recently been moved to my alternate count. For now, this is still my primary count. If my count is correct, were in the resistance zone I have us pegged for the reversal to a new low. (between 111.54 and 111.96). So for my count to be be right, it shouldnt be long now.