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Thread: Elliott Wave Trading Discussion

  1. #31861
    MrWilson is offline Member
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    Quote Originally Posted by apipintime View Post
    The strong argument for the ending diagonal no longer exists, but it does not change the corrective nature of price action over the last several days. Depending on how Cable closes, we could still be in the grips of a Double Three correction that would take us to the 1.6400 target I have been talking about. Here is a chart:
    Hi Jay

    How about the whole pattern of the 13th Oct low being a leading diag ?
    Would fit the delta..

    Yesterdays mark down being the the iv.... (ratio's of the square for the correctives 41.4% & 50% for ii & iv) ( geometric ratios for impulses as iii = 61.8% i )

    60min GBP F
    Last edited by MrWilson; 11-13-2009 at 03:00 PM.

  2. #31862
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    Eagle Eye

    Quote Originally Posted by MrWilson View Post
    Hi Jay

    How about the whole pattern of the 13th Oct low being a leading diag ?
    Would fit the delta..

    Yesterdays mark down being the the iv.... (ratio's of the square for the correctives 41.4% & 50% for ii & iv) ( geometric ratios for impulses as iii = 61.8% i )

    60min GBP F
    Hey MW,

    I like that. Nice eye. What is really interesting is the similarity to how the move originally started off of the 1.36 lows - leading diagonal as well! Interesting.
    รูปขนาดเล็ก รูปขนาดเล็ก Elliott Wave Trading Discussion-cable.jpg  


  3. #31863
    MrWilson is offline Member
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    Quote Originally Posted by apipintime View Post
    Hey MW,

    I like that. Nice eye. What is really interesting is the similarity to how the move originally started off of the 1.36 lows - leading diagonal as well! Interesting.
    Thx
    The fractal followers will get excited ( the same delta pattern crossed my mind as well
    Last edited by MrWilson; 11-13-2009 at 03:40 PM.

  4. #31864
    Jamie Saettele is offline Moderator
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    watching closely

    until the the 5th wave channel and 14625 are broken, the larger eurusd trend is intact (albeit with weakened technicals). at this point, the bearish count is extremely bearish with this morning's spike constituting a small 5th wave truncation. the rally now is then ii of 3. a triangle as a larger 4th is up there in probability, which would probably see weakness towards 14740/50 in wave c. the least likely is a flat. i place this as least likely because a falt would require a drop below 14625, which would break the channel and indicate (to me at least) a reversal. i am staying short into the weekend.
    รูป รูป  
    Jamie Saettele is the author of Daily Technicals, Currency Crosses, and COT on DailyFX.com. He is also the author of the recently published Sentiment in the Forex Market.

  5. #31865
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    Quote Originally Posted by Jamie Saettele View Post
    until the the 5th wave channel and 14625 are broken, the larger eurusd trend is intact (albeit with weakened technicals). at this point, the bearish count is extremely bearish with this morning's spike constituting a small 5th wave truncation. the rally now is then ii of 3. a triangle as a larger 4th is up there in probability, which would probably see weakness towards 14740/50 in wave c. the least likely is a flat. i place this as least likely because a falt would require a drop below 14625, which would break the channel and indicate (to me at least) a reversal. i am staying short into the weekend.
    Thanks for sharing this, Jamie. Great stuff.
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  6. #31866
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    GBPJPY

    I'm not exactly sure which way the beast is going here yet, but currently the market is holding above an important long term fibonacci confluence zone, if the market continues to show support on this level, i will eventually be looking for a larger up side move shown here on the daily chart --->
    รูป รูป    
    Last edited by brad_1199; 11-13-2009 at 05:39 PM.

  7. #31867
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    AUDUSD

    What an insane rally in AUDUSD since last year.... I think this pair is heading for a double top at prior multi-year highs at .9849 before staging a reversal... The intra-day strength is extreme and when this rally finds a top price is going to slingshot backwards hard and fast relieving excess upward momentum... For now it looks like price remains in an up trend though and a re-test of .9849 is in the cards --->
    รูป รูป    
    Last edited by brad_1199; 11-13-2009 at 10:06 PM.

  8. #31868
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    EUR/USD vs. USD/CHF

    A commonly known relationship between EUR/USD and USD/CHF is that these pairs like to move inversely to each other... As far as I can see the Dollar Bear Trend is firmly intact in both pairs, but I hear a lot of talk about the dollar bottom... WeLL we have yet to see it... So until we do, I say don't fight the trend which is a pretty simple concept to understand.. Never try to force the market... I wasn't paying so much attention to the USD bottoming scenario until i heard Precther on the news calling for a bottom and multi-year reversal in the USD... When that man speaks I pay attention... So hmmm, where the heck is the USD strength though ?? Hmmmm i'LL be watching both of these markets looking for some USD strength .... We deffinately need some more confirmation of a reversal yet in both pairs... Until we get it, the dollar bear trend remains intact...

    I was reading that Jaime is looking to remain short EURUSD going into the weekend, (In my humble opinion) I think he is a little too early and if the market gaps higher over the weekend it could cause him some problems... It would be best to wait for a daily close beneath the up trend line on the daily chart before shorting that market... The EUR/USD market is still in bull mode and has not given the sell signal yet....
    รูป รูป    
    Last edited by brad_1199; 11-14-2009 at 03:59 AM.

  9. #31869
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    NZD/USD

    Just like the AUD/USD chart i posted a little higher up --- the NZD/USD chart has seen a mega up trend this year and it looks like she's starting to run out of steam.. For now the up trend is still intact and it will probably push a little higher, but we'LL see a high probability shorting opportunity at multi-year resistance by 82.12 looking for a long term double top....
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    Last edited by brad_1199; 11-14-2009 at 03:36 AM.

  10. #31870
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    Brad

    Quote Originally Posted by brad_1199 View Post
    A commonly known relationship between EUR/USD and USD/CHF is that these pairs like to move inversely to each other... As far as I can see the Dollar Bear Trend is firmly intact in both pairs, but I hear a lot of talk about the dollar bottom... WeLL we have yet to see it... So until we do, I say don't fight the trend which is a pretty simple concept to understand.. Never try to force the market... I wasn't paying so much attention to the USD bottoming scenario until i heard Precther on the news calling for a bottom and multi-year reversal in the USD... When that man speaks I pay attention... So hmmm, where the heck is the USD strength though ?? Hmmmm i'LL be watching both of these markets looking for some USD strength .... We deffinately need some more confirmation of a reversal yet in both pairs... Until we get it, the dollar bear trend remains intact...

    I was reading that Jaime is looking to remain short EURUSD going into the weekend, (In my humble opinion) I think he is a little too early and if the market gaps higher over the weekend it could cause him some problems... It would be best to wait for a daily close beneath the up trend line on the daily chart before shorting that market... The EUR/USD market is still in bull mode and has not given the sell signal yet....
    Hey Brad,

    Brilliantly said.What a wise words! listen up EW pundits!

    Glad to have back you man.
    Last edited by mike3gdc; 11-14-2009 at 06:32 AM.

  11. #31871
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    Quote Originally Posted by mike3gdc View Post
    Hey Brad,

    Brilliantly said.What a wise words! listen up EW pundits!

    Glad to have back you man.
    Thanks Mike

  12. #31872
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    NZD/USD

    Quote Originally Posted by VINCY BALBOA View Post
    Awesome Brad, That Make a good Sence..

    and it is good You are ELLIOT WAVE ROOM, it is better a Long Term trader is with Ew Company..
    so where you Wish to Buy, Up to C..? @ What Price?

    thanks
    Hi Vincy

    The bullish trend on the daily chart is far too stretched for me to consider taking on any long positions in NZD/USD ... I would prefer to take advantage of the short side of the market when that opportunity presents.. Price is severely stretched into the up side right now, so down side risk far outwieghs up side potential and we must keep that in mind for risk management purposes... If you're going to be trading the NZD/USD market with a long bias here, I say manage your risk well and keep your position sizing smaller... The bigger opportunity is the short side of the market a little higher up...

  13. #31873
    VINCY BALBOA is offline Member
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    Quote Originally Posted by brad_1199 View Post
    Hi Vincy

    The bullish trend on the daily chart is far too stretched for me to consider taking on any long positions in NZD/USD ... I would prefer to take advantage of the short side of the market when that opportunity presents.. Price is severely stretched into the up side right now, so down side risk far outwieghs up side potential and we must keep that in mind for risk management purposes... If you're going to be trading the NZD/USD market with a long bias here, I say manage your risk well and keep your position sizing smaller... The bigger opportunity is the short side of the market a little higher up...
    thank s Brad I am With you Keep Patient for long Term..


    But

    I have one Question Have a look Please http://forexforums.dailyfx.com/380059-post25392.html I had Expained In EU room , about Candle stick on weekly Chart.. And You can See Now The next trading Gave a new candle so It Might be LONG LEGGED DOJI. Bear...

    I am bit confused does it the Time... And second now i am Educatating My self Of Candle Stick...

    I alread readed The Japanese Candlestick Charting Techniques, Second Edition And Beyond Candlesticks: New Japanese Charting Techniques Reveale..

    Now i am reading First Edition..

    So do you Know any Good Candle stick book.

    Many thanks
    Best Regards
    Vincy Balboa
    The Chinese Dragon!! :)

  14. #31874
    VINCY BALBOA is offline Member
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    Hi GUYS...

    YouTube - vincy charts12

    GOOD, BAD AND UGLY . VINCY BALBOA ALL CHART's.. Elliot wave, Ichimoku , Geometric And Techincal analysis..

    Happy weekend..

    BUT IT STILL LONG TO GO!!!
    Last edited by VINCY BALBOA; 11-14-2009 at 08:39 AM.
    Best Regards
    Vincy Balboa
    The Chinese Dragon!! :)

  15. #31875
    VINCY BALBOA is offline Member
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    Eu.. Flat?

    4 hour

    zoom

    1 hour

    Elliott Wave Trading Discussion-gsd.jpg
    Elliott Wave Trading Discussion-zoom.jpg
    Last edited by VINCY BALBOA; 11-14-2009 at 03:34 PM.
    Best Regards
    Vincy Balboa
    The Chinese Dragon!! :)

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